How LetyShops solved payout challenges with Corefy

About the client

Since its launch, LetyShops has reached almost 29 million users and partnered with over 2700 stores worldwide, including major players like AliExpress, Shein, Asos, and many more. LetyShops users have already made close to 160 million purchases with cashback.

In October 2018, LetyShops became a client of Corefy. With us, the company started its rapid international expansion, entering the markets of Spain, Germany, Poland, India, and Latin America. During four years of our collaboration, which ended in 2022, the service became available in more than 35 countries worldwide.

How we helped LetyShops deal with payout workload

LetyShops pays out cashback in real money. The customer journey is the following: a user registers on their website, chooses one of the partner stores from the list, gets redirected to its website, makes a purchase, and, in case there's no return in 30 days, receives cashback that varies from store to store and can be as high as 30%. After being credited with cashback, a user can withdraw it using any of the multiple payout options LetyShops offers.

The payout workload is immense because the company has millions of users. After one of the fastest onboardings⁠ in Corefy history (it took LetyShops just two days from getting acquainted with the documentation to performing the first live transaction), LetyShops began successfully using our platform as a tool for paying out to thousands of users daily.

We have worked with Corefy since October 2018. We are very thankful that we got acquainted with a really strong partner with deep expertise in fintech, development, and IT tools for payouts.

How LetyShops saved time, money, and effort with Corefy

The particular value of our platform for LetyShops lies in our proven payment expertise and our ability to deliver numerous out-of-the-box integrations.

As the business scales, payment processes grow exponentially in complexity. Large businesses require multiple payment partners to support international expansion and diversify risk. Every new integration with a payment service provider comes at a cost, as it involves significant development efforts to establish, maintain, and update the connection. Moreover, it takes a lot of time and drains resources that could otherwise be used for business development.

That's why LetyShops decided to leave the provider integration hassles to us. A single integration with Corefy made it a piece of cake for LetyShops to connect new providers⁠ and payout methods. In addition to dozens of pre-established connectors, we added new integrations for the client upon request. We did the work that LetyShops could have been doing themselves for months, much faster, ensuring quality and providing support for every connection. Moreover, it ended up being notably cheaper for our client.

We have been connected to 8 PSPs and more than 15 payout methods, so everything we needed was fully covered by Corefy.

This way, the company was fully equipped with the payment capabilities needed to expand into any market worldwide⁠. LetyShops used this benefit to the fullest, entering Latin America while we took care of connecting them with local PSPs.

All the questions we had were fastly resolved with our Account Manager, and the communication was on a high level of responsibility and trust.

Why Corefy?

Corefy has developed payment solutions for more than fifteen years. It is how we've learned what works, what doesn't, and what helps our clients to reach the top. With this knowledge and experience, we are ready to guide you every step of the way with personalized support and consultancy⁠.

We provide a holistic payment infrastructure and tackle every related technical issue so you don't have to. Feel free to get in touch to see our platform in action, share your pain points, and find the solution you've been looking for.