Interviewed by Syed Md. Rakeen, Team MBR

Pioneering the first cashback app in Bangladesh, AyyKori enables consumers to save money on their purchases as well as earn by sharing amazing brand bargains with friends and family. Their platform was created to offer everyone who enjoys shopping and saving money a rewarding and fulfilling experience. Realising the importance of receiving curated cashback offers in a sea of cashback offerings from myriad brands, they have developed an easy-to-use platform that enables customers to access cashback offers and avail those on their purchases. By spreading news of lucrative brand discounts throughout their network, they also provide users with the opportunity to earn money through the platform. To guarantee that customers always gain access to the best offers and discounts, they have collaborated with several renowned and new businesses and added the offerings of those companies to their app. Team MBR was in conversation with Mr. Aminul Islam to learn about his inspiration behind forming AyyKori as well as his long-term vision regarding AyyKori. 

Syed Md. Rakeen: AyyKori has pioneered the first cashback site in Bangladesh, allowing consumers to gain access to exclusive cashback offers from renowned brands as well as save on their purchases. Would you kindly share what inspired you to create a unique platform like AyyKori?

Aminul Islam: AyyKori was born out of the desire to address a pressing need in the Bangladeshi market. The idea came from recognising that consumers were looking for ways to save money and earn extra while shopping, and brands wanted to reduce their reliance on marketplaces. This inspired us (the founders) to create a unique platform that not only bridges the income gap for users but also empowers brands to sell directly from their own platforms, reducing their dependency on marketplaces. 

Syed Md. Rakeen: Daraz and Esquire Electronics are just two of the many renowned brand partners of AyyKori so far. Could you please share how the revenue distribution model works with the brands you have collaborated with?

Aminul Islam: Our revenue distribution model with brand partners is based on performance. Brands collaborate with AyyKori to offer exclusive cashback deals to our users. Users receive cashback from these deals, and AyyKori keeps a portion of the sales as a service fee. It is a win-win model that ensures brands gain visibility and users enjoy savings.

Syed Md. Rakeen: Given the price- sensitiveness of the majority of consumers in Bangladesh, an all-in-one cashback site will undoubtedly be lucrative to individuals seeking discounts while shopping. How is AyyKori raising awareness among consumers regarding its platform?

Aminul Islam: To raise awareness among consumers, we employ a multi-faceted approach. We leverage social media, influencer marketing, and partnerships with renowned brands to promote our platform. We also engage in targeted advertising campaigns to reach consumers seeking discounts, especially before major shopping seasons.

Syed Md. Rakeen: Consumer purchases tend to increase exponentially before religious festivals, with several renowned retail brands offering numerous cashback offers. Would you kindly share how AyyKori strategies during the seasonality of shopping and cashback trends?

Aminul Islam: Seasonal shopping trends are a significant focus for us. During the seasonality of shopping, we observe a cashback trend from the MFS and bank cards. But none of them represents a true form of cashback. They are all payment gateway discounts, and you cannot enjoy cashback while availing cash on delivery. On the other hand, AyyKori users enjoy cashback even after getting it from payment gateways! It means, in AyyKori, you will get cashback round the year along with other brands’ offers.

Syed Md. Rakeen: The sheer volume of online and offline shopping can often lead to brands and retailers going out of stock for products with cashback offers. How does AyyKori ensure that all the cashback offers sourced from its partners remain updated?

Aminul Islam: Every brand partner of AyyKori has a tech integration, and our offerings are realtime with 100% accuracy with the help of AI and machine learning. Also, we are the largest techintegrated local network, working with more than 100 local and foreign brands to serve the market.

Syed Md. Rakeen: AyyKori provides an attractive opportunity to earn from its website through affiliate marketing techniques. Would you kindly share how cashback redemptions and payment processing work on your platform?

Aminul Islam: Cashback redemptions on AyyKori are straightforward. Users shop through our platform, earn cashback on their purchases, and can then redeem it as a direct bank transfer or MFS transfer. Our payment processing is efficient, and we are continually working to provide multiple payment options to cater to user preferences.

Syed Md. Rakeen: The lucrativeness of cashback offers comes with its fair share of challenges, as some consumers may try to claim more cashback than they are entitled to. How is AyyKori addressing potential fraudulent cases and preparing to eliminate malpractice?

Aminul Islam: Addressing potential fraudulent cases is essential. AyyKori employs a robust system to monitor and detect any irregularities. In cases of suspected malpractice, we investigate thoroughly with our automatic AI spider and, if necessary, take appropriate actions to ensure the integrity of our platform.

Syed Md. Rakeen: AyyKori was recently ranked as one of the top 10 startups in the Bangabandhu Innovation Grant (BIG 2023) event, where it also secured government grants. Given the immense potential of your platform, what are the long-term aspirations of AyyKori in the future?

Aminul Islam: AyyKori’s long-term aspirations are to become the go-to platform for both consumers and brands in Bangladesh. We aim to expand our brand partnerships, enhance our user experience, and continue to innovate in the field of cashback and affiliate marketing, both locally and globally. Ultimately, we envision AyyKori as a catalyst for digital inclusion and financial empowerment in the region.