History & Evolution

Redemption promotions have been around for many years including famous names such as Green Shield Stamps, Air Miles, Neckter Points and Tesco Club Card which are all redemption promotions aiming to create customer retention and loyalty.

The original “Cash Back” promotions were redemption promotions guaranteed through insurance and re-insurance of the claim risk, hence the Insurance Company accepted a premium to insure the risk of the claim and guaranteed 100% payment to successful claimants. These promotions proved on the whole to be unsuccessful because, of course the Insurance Company’s involved were not household names and the promotion was “Too good to be true” in our experience when something seems too good to be true, it usually is!

The promotions that are today administrated by Reclaim were originally created by Retailers as a fun promotion for their clients that increased sales and allowed the client to participate in a challenging promotion that successful claimants could achieve a percentage of their purchase price back. Their mechanics were quite simple, a percentage of the purchase price was put to one side, the purchaser was presented with a voucher which was subject to specific terms and conditions for redemption, he submitted part of the voucher in a specific time period and then at a later date submitted the other part of the voucher in a specific time period. What then happened is that half the customers failed or just did not bother to submit the first section, which then doubled the benefit to the people who did submit correctly and of course the process repeated itself on the second period to submit the voucher, doubling the customer’s benefit who did submit the voucher correctly again.

Reclaim Limited took this concept and developed it into a commercial business and has since 1999 become the leading Company in the World operating financial redemption promotions.