The money is on the way Cashback. Wednesday 30 June, in three days, in fact, the first half of the 10% state reimbursement mechanism on expenses with credit cards, debit cards and payment applications will close. And from the numbers provided, albeit provisional, it emerges that they are there 7.86 million citizens with valid transactions (for a total of 726 million processed transactions), of which 5.9 million which, with 50 or more transactions assets, have already accrued the right to receive a refund of up to 150 euros.
How many will receive the refund
The data – which are those updated on the Io app – could however rise again (it will take a few days even after the end of the semester for the official results). There are indeed at the moment 1.9 million users who made between 1 and 49 transactions and that they could accumulate other purchases by Wednesday in order to reach 50 transactions, that is the minimum threshold that allows to obtain the “compensation” of part of the expenses made with electronic money.
Instead, to enter the ranking of the 100 thousand (those with the highest number of transactions in the period) they will have the € 1,500 Super Cashback, at the moment you must have done more than 689 transactions. Refunds, which will arrive directly to the current account, are expected for August (the regulation provides for disbursement within 60 days from the end of each period).
How cards and apps are used
From the cashback data also comes an insight into the use of cards and apps. The greatest number of operations is done for purchases between 25 and 50 euros (21.4%): in particular, the average receipt of those who buy by participating in the
Cashback is 35.6 euros. But electronic money is increasingly being used to pay for a simple coffee: 16.2% of the transactions relate to amounts of less than 5 euros (it was just 6.5% during the Christmas trial). There are also many transactions for amounts of between 5 and 10 euros (14.1%) and between 10 and 15 euros (11.7%). The lowest percentage of transactions is instead for maxi amounts exceeding 300 euros (0.84%).
How many have joined
Overall, from the beginning of the program (started with the experimental phase of the Extra Cashback of Christmas) to today they are already 8.9 million citizens who signed up, with a total of 790 million transactions processed and 16.4 million payment instruments activated. Strong growth in numbers compared to the experimental phase, which ended at the end of December, after just under a month, with 5.8 million registered citizens, 9.8 million registered electronic payment instruments, over 63 million transactions carried out, over 222 million reimbursements for 3 , 2 million people, for an average amount of around 69 euros each.
The next steps
During these months, some ‘adjustments’ to the system have also been made, such as the anti-cunning changes, to avoid micro-payments at the same business, a practice that someone resorted to to more easily reach the minimum number of transactions and ‘climb’ the Super Cashback ranking. Now, after this first semester, the program includes two other semesters, until June 2022.
Then from July 1st the transaction counter will be reset and we start again until the end of the year with the same rules implemented up to now: a maximum reimbursement of 150 euros (300 euros per year) can be obtained every semester; for each purchase (there is no minimum purchase amount) made with registered cards and payment apps, 10% of the purchase can be accumulated (up to 15 euros per transaction); the accumulated cashback is obtained if at the end of the period the minimum number of 50 valid transactions has been reached; if the maximum reimbursement threshold of 150 euros is exceeded, the transactions will continue to be counted until the end of the reference period, but only for the purpose of participating in the “Super Cashback” of 1,500 euros, which goes to the first 100 thousand which in the semester have totaled the largest number of transactions.
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