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Tinkoff launches charity cashback scheme

Russian neobank Tinkoff announced the launch of its new charitable scheme called ‘Cashback to Give Back’.

This particular tool allows Tinkoff’s users to direct their cashback to charities and aims to encourage more Russian consumers to consider donating to some of the current issues in the country.

Read also: Revolut losses tripled to £107m in 2019

Customers are able to make donations of up to RUB 9,000 ($122.62) each month to more than 300 of the bank’s partner charities. Tinkoff debit card gives users a 1% cashback for every RUB 100 spent. There is a possibility to get up to 15% cashback on purchases made within certain categories, and even up to 30% on purchases made at the bank’s partners.

Chairman of Tinkoff Bank’s Management Board Oliver Hughes commented, “Cashback to Give Back is the latest in a number of steps we have taken to help further the work of charities. The first step saw us give our clients the opportunity to make donations directly via our SuperApp.”

“As a result, the number of contributions Tinkoff customers made to charity doubled over the course of one year,“he added.

The Bank said that customers could get involved in the new program through its mobile app, available on iOS. In June Tinkoff managed to partner with goods.ru. This enabled the customers to shop at goods.ru right from the Tinkoff app and receive 5% cash back for each purchase. This service is currently live in Moscow and the Moscow Region. However, Tinkoff plans to make it available in all Russian regions going forward.

“Together with our partner charities, we hope that Cashback to Give Back will help foster a culture of charitable giving in Russia. Our goal is to make giving to charity something routine for each and every one of us. We want to lift any barriers and make helping others much easier for everyone,” Hughes concluded.

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Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

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