Lyoness

Thanks to Lyoness, shoppers have a way to earn cashback on their everyday purchases without having to pay anything extra. There are no membership fees, application fees, or any other costs to sign up. Instead, Lyoness members receive cashback every time they present their Lyoness Cashback Cards to participating Loyalty Merchants whenever they make a sale. The cards are used as a way for members to track their purchases so that they can access their cashback benefits. Lyoness members regularly enjoy as much as 2% cashback on the purchase amounts using their cards, which they receive into a cash account. After that account with Lyoness accumulates a minimum of €10, it is transferred into the member’s personal bank account to use as desired.

Hubert Freidl is the man behind the Lyoness concept. The idea for Lyoness occurred to him when he was out purchasing new furniture and attempting to negotiate a better price on what he was buying. He was informed that he could potentially receive a larger discount if he were willing to buy more furniture. It occurred to him that purchasing power was the concept behind being able to access better discounts. He envisioned a scenario where his friends and family worked together to purchase more furniture, allowing them to collectively obtain a larger discount. From these types of ideas, Lyoness was founded. By bringing together the purchasing power of 3.6 million shoppers around the world, Lyoness is able to negotiate better deals with its participating Loyalty Merchants, which now number more than 39,000.

A strong company requires a strong foundation, which is why Hubert Freidl emphasises heart, soul, and determination as part of the Lyoness culture and ideal. His own journey to entrepreneurship began at the age of 23, after he worked in different industries such as software development and insurance. He started Lyoness in 2003 with the hopes that the company would help build up a sense of community between merchants and members. Through Lyoness, these two groups are able to accomplish more together than would be possible if they were on opposite sides. The programmes in particular focus on building loyalty and inspiring people to act together.