Definition

A percentage of money returned to a customer after making a purchase, often used as an incentive by credit card companies or retailers.

Example

I received a cashback reward after buying my new phone.

Conversation

Have you heard about the new credit card that offers cashback on every purchase?

No, I haven't! That sounds really interesting.

Yeah, you can earn cashback on groceries, gas, and even online shopping.

That's awesome! I might need to look into that.

Synonyms & Antonyms

Root Explanation

Cashback is formed from "cash" (from Middle English *cashe*, meaning money in the form of coins or notes) and "back" (meaning return). The term refers to the return of a portion of money spent, typically in a transaction or purchase.

Memory Tip

Think of receiving money 'back' after spending 'cash' — that's what cashback means.

Visually Confused Words