Summary: Money-Mate, a new comparison and utilities company have decided to break the mould by giving the commission back to the customer.
In recent weeks comparison sites have been in the news for their manipulating tactics towards customers. The Telegraph reported that comparison sites take a huge chunk of commission from sales of products and while they offer a good deal at the outset, customers are left baffled when prices rise suddenly.
For over twelve months Money-Mate has understood this problem facing customers and has developed a platform to give the money back to the consumer. Money-Mate wants to eradicate the shock people face when prices rise on renewal while giving the customer complete control over their money.
Money-Mate aims to do this in a variety of ways.
The first promise is bold. Money-Mate claims that they can make any of their five star products free within twelve months. This could mean that Money-Mate customers pay absolutely nothing for broadband, travel insurance, gas, electricity, business energy and cyber insurance, simply through sharing their unique Money-Mate code.
The second promise gives allows for instant savings. On products such as health insurance, broadband, business electricity and gadget insurance Money-Mate instantly gives the customer one month’s credit. On top of this, when anyone else signs up to the same service, Money-Mate credits the previous customer’s account with their monthly premium. It sounds insane, it probably is.
What Do Customers Have to Do to Earn Free Business Energy?
To make the products free, all a customer has to do is share their unique code with their friends. Every time a friend buys a product, the original customer receives yet another month’s credit. By the end of 12 months, customers could have enough credit to make their renewals on everyday products completely free.
What’s the Catch?
This does leave some customers wondering where the catch is? How can Money-Mate afford to give so much away in credit? The original article mentioned sums this up, as Money-Mate is giving the commission back to the customer instead of keeping it for itself.
Roopesh Patel is the founder of Money Mate and he explains the concept and his reasoning behind such a generous platform. He says, “I know that profit through the site will be small per customer and that’s fine. I wanted to give back to the customer and provide a service that listened to their feedback. Comparison sites have got away with charging these hidden premiums for too long and now they need to give the customers what they want. I’m hoping that the UK public will see the benefits of Money-Mate as the more people use us, the cheaper we’ll be. By keeping the profit low, I can appeal to everyone and bring in a larger quantity of customers who pay very little per product rather than a few that have to pay through the nose to fund the comparisons. It’s also important to me that we only offer high quality products, as there’s no point giving to the customer if our services don’t meet or exceed their expectations.”
To find out more about Money-Mate or to benefit from the five star products visit their website where you’ll be greeted by Lord Chumley and Buddy, the Money-Mate mascots.
Money-Mate is a provider of high quality products and utilities online. Along with their own gadget insurance, travel insurance, health insurance and business electricity, Money-Mate also offer products through vetted third party providers who share the same money saving, high quality ethos.