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The company was founded in 1999 as the website How2.com. In 2001, the company shifted its business to rebate and reward programs. Parago was founded by venture capital firm T. H. Lee of New York and was formerly known by the name Parago Rebates HQ. The firm has experienced significant growth and expansion in the early 2000s.
A rebate card is a debit card that provides funds promised by a business as a rebate.They are often offered to those who make a specific purchase, or for loyalty to a company by accumulating a certain amount of money or number of points worth of purchases from a particular company.
In marketing, a rebate is a form of buying discount and is an amount paid by way of reduction, return, or refund that is paid retrospectively. It is a type of sales promotion that marketers use primarily as incentives or supplements to product sales. Rebates are also used as a means of enticing price-sensitive consumers into purchasing a product.
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Sites vary on what form of cashback rebates they offer their users. Some programs will provide the users with a percentage of the total purchase price, while others have a flat sum that they pay out for each action. Many cashback sites offer users a reward for referring others to the site.