Egypt - WaffarX, the first cash back provider in the Middle East and North Africa (MENA), has hosted a special event to show appreciation for its most loyal customers and dedicated partners. The event also marked the official announcement of the company’s recently launched service, In-store Cash Back, as well as new collaboration with the Commercial International Bank (CIB) starting with the launch of the WAFFARX I CIB app.

“WaffarX is focused on delivering consumers a seamless, valuable, and engaging rewards experience on behalf of our brand partners, cultivating a meaningful relationship where everybody wins. We plan to leverage the collaboration to combine our technology with CIB’s scale and yield even more benefits and savings for our members and CIB customers,” said CEO of WaffarX Ezz Fayek.

Adding to its lucrative credit cards perks, CIB customer can now access higher Cash Back rates from WaffarX’s diverse catalogue of top local and global brands, including Amazon, Bokking.com, Jumia, B.Tech, spinneys, Nike, Springfield, Rabbit App, and much more.

WaffarX I CIB customers get other exclusive benefits, like payment transfer (Cashout Days) six times a year instead of the usual four. This collaboration will enable CIB to harness the power of Cash Back rewards and remain top of the wallet among customers.

It was promised by CIB’s dedicated teams to always strive to enrich its customers’ value proposition with unique offers by innovative collaborations with several startups.

With WaffarX, the collaboration is the first of its kind in the market with more to come given how well both teams could work together, not to mention the wins across all levels.

With WaffarX, consumers save and shop more while brands acquire and retain loyal customers. This simple but impactful model has resulted in year over year growth as top global brands leverage the platform to drive sales.

So far, WaffarX has returned over EGP 25m in Cash Back to its members and continues to grow.

The Cash Back Kings event and WaffarX I CIB app are just the latest in a series of recent accomplishments for the company. In December 2021, WaffarX announced a multimillion-dollar investment led by leading Silicon Valley VC lobby Capital, which included initial investors A15, a top Egyptian VC.

With their support, WaffarX is working on meeting the needs of today’s consumers by adding new brands to diversify their merchant catalogue and developing additional services to help shoppers save more. In September of this year, WaffarX launched In-store cash back, bringing seamless and delightful cash back rewards to shoppers at brick-and-mortar stores. This new service aligns with the company’s aim to maximize the value of everyday transactions for consumers and brands alike.

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