2. How large a rebate is expected?
The rebates will vary depending upon the participating merchant's business model. Naturally, a rebate that motivates the consumer is most appealing. Typically, the rebates of a licensed program will range from 1% to 15% depending upon the particular retail or service category. Some programs may permit the retailer to offer different rebate amounts for different types of cards (e.g. credit vs. debit card) or vary the rebate amount depending upon the day of the week. In addition, some programs may permit absolute dollar maximums on a per transaction basis.
3. How are rebates captured for deposit
into the member's account?
The sponsoring organization or its third party processing agent captures the qualifying transactions made with registered credit or debit card accounts from the credit/debit card sales data received from your card processor, the applicable rebate amounts are calculated, and periodically an ACH transaction or other form of transfer is generated to transfer the rebate amounts from your designated bank account to the members' savings accounts. The sponsoring organization or its third party processing agent may require that you complete a merchant authorization form and send it to your card processor(s) authorizing them to make your card transaction data available so that they can capture the qualifying transactions.
4. Will my business need any specific software
or technical equipment to participate?
If you're currently processing credit and debit card transactions, you have
the necessary equipment to get started. The only limitation is that
your processor must be willing to send your transaction files to the sponsoring organization or its agent to capture the qualifying transactions. 5. How will members know of my participation
as a TuitionFund® merchant?
Participating merchants will be displayed on the sponsoring organization's website and the sponsoring organization's website will provide a link to a participating merchant's website to facilitate on-line shopping. In addition, there may be opportunities for cost-effective cooperative advertising with other participating merchants participating in a sponsoring organization's TuitionFund® program. In-store marketing materials may also be made available by the sponsoring organization. In addition, we suggest adding the TuitionFund® logo to your existing marketing and for brick-and-mortar merchants, displaying a TuitionFund® sticker on your door to enable your customers to recognize your location as their preferred shopping destination.
TuitionFund, LLC has been granted U.S. Patent Nos. 7,499,872, 7,653,572 and 7,899,704 which, along with other pending application(s), applies to this program and to certain of its features and services.
