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Save on What You’re Already Buying
By MP Dunleavey Wednesday July 14, 2010
Let's say you're a Target shopper who gets the occasional mani-pedi, subscribes to Oprah magazine, and buys rice milk by the case. (Sounds like Amanda, doesn't it?) Enter Offermatic—a money-saving service that bills itself as the "freak love child of Mint, Groupon and Blippy."
Spend 'n' save
Offermatic tracks your spending (via debit or credit card)—then sends you discount coupons based on your unique spending habits—between 50% to 90% off.
Offermatic spots your shopping preferences, and searches its database for discounts for those stores, products or services. See how it works.
Similar to money trackers like Mint, Offermatic downloads your transactions securely—and doesn't have access to your account numbers.
Bank on this
You have to shop, so you might as well save while you're at it. We recommend that you check out Offermatic.
Comments
(8)
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Written by Kat Bretcher, July 14, 2010
Well I don't think this would work very well for me. Almost all of my spending is done with cash! I am so weird...
Written by Skye, July 14, 2010
This sounds awesome, but I just tried to sign up in both Firefox and Internet Explorer and when I enter my info and press sign up, it just refreshes the page. I will try again later on another computer...
Written by Jen, July 14, 2010
I don't see how this is safe - or anonymous! Once they have your credit card/bank login information-- your name, account number, and address are often right there for the taking once they've logged into your account!
Written by Carla Bobka, July 14, 2010
This is a really interesting concept. Let's think this forward to see how Offermatic might use the information they gain from our transaction history, and what their earning model looks like.
Here' my guess - they sell advertising to the businesses giving us the offers. The advertiser knows they will get exposure to only a highly qualified target market, that's worth a premium rate. Our transactions are how Offermatic targets so precisely, so they are willing to pay us $15/year/card for the highly credible research. That's cool, being paid for the data I am supplying.
An additional possibility for another revenue stream is Offermatic will consolidate the spending trends across many banks and card types(still anonymously) and be able to sell aggregated trend data on consumer spending to other businesses. That's where the big money would be. Someone like Iconoculture would love to have those stats to layer into their current consumer research.
Big question for me - What security do they have in place for the card numbers they gather? Big question worth knowing more about before I type in my info.
Here' my guess - they sell advertising to the businesses giving us the offers. The advertiser knows they will get exposure to only a highly qualified target market, that's worth a premium rate. Our transactions are how Offermatic targets so precisely, so they are willing to pay us $15/year/card for the highly credible research. That's cool, being paid for the data I am supplying.
An additional possibility for another revenue stream is Offermatic will consolidate the spending trends across many banks and card types(still anonymously) and be able to sell aggregated trend data on consumer spending to other businesses. That's where the big money would be. Someone like Iconoculture would love to have those stats to layer into their current consumer research.
Big question for me - What security do they have in place for the card numbers they gather? Big question worth knowing more about before I type in my info.
Written by JR, July 15, 2010
Carla - I'm pretty sure they'll follow the Groupon model. Everything you suggest is possible, but very complicated. In the Groupon model, group buying websites take about 30% of the revenue when subscribers buy "vouchers" via the group buying website. In the Offermatic model, the coupons are likely to be 5x more targeted. I've heard that Groupon is earning about $6 million per month (yes MONTH) in revenue. That's not been verified.
Written by Faisal Qureshi, July 15, 2010
Hi all, just thought Offermatic should contribute to the conversation.
Skye - you should try to sign up again. the issue you mentioned happened when special characters were entered in the password field. we've fixed that, so it should work fine now. ping us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it if you have any issues.
Jen - the way your bank login information is accessed, it never provides us with access or visibility into your name or address. Regarding card number, most banks don't show the card number in the online statement - and if they do we never store it. You can read more about our security here: http://www.offermatic.com/safe-and-secure.html
JR/Carla - yes our offers are likely to be more targeted than Groupon. which is good for users as well as for merchants :)
Thank you all for commenting about Offermatic!
Skye - you should try to sign up again. the issue you mentioned happened when special characters were entered in the password field. we've fixed that, so it should work fine now. ping us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it if you have any issues.
Jen - the way your bank login information is accessed, it never provides us with access or visibility into your name or address. Regarding card number, most banks don't show the card number in the online statement - and if they do we never store it. You can read more about our security here: http://www.offermatic.com/safe-and-secure.html
JR/Carla - yes our offers are likely to be more targeted than Groupon. which is good for users as well as for merchants :)
Thank you all for commenting about Offermatic!
