Merchant FAQ

What is the purpose of the program?

The ibuyneo program encourages consumers to shop locally to keep dollars within the local economy. ibuyneo promotes shopping at participating businesses by rewarding customers with a cash back rebate and donating to their favorite causes. The program directs money to local businesses and nonprofits and creates a way for citizen-consumers to make choices about their spending that positively impact small businesses in Northeast Ohio.

What are the benefits of participating?

• Businesses will attract new customers as a result of program related marketing and promotions including; media and publicity, inclusion in our online directory, community events, and members communications.
• In addition businesses can expect an increased frequency of sales on above average transactions
• Being a partner in community giving

How does it work?

Card holders present their community card at participating businesses to be swiped when making a qualifying purchase before paying with an accepted form of payment. A rebate plan is set by each participating business. The rebate portion of the transaction, which is set by each business, is then divided and distributed with a portion going to the card holder as a cash rebate and a portion going to a beneficiary of the card holder’s choice.

What is the community card?

The Community Card has a magnetic strip on the back and functions as a loyalty and identification card. No money is stored on the card and it is not used for payment. The customer can pay with any accepted form of payment as they normally would. The card transmits transaction data through the existing MasterCard or Visa exchange, so processing is as simple as swiping the card through the credit card processor.

Does it cost me anything to join the program?

There is no cost to join the program. Merchants pay a Community Rebate only when someone makes a purchase and merchants are billed accordingly on a monthly basis.

What is a rebate plan?

The businesses set a rebate amount and a minimum purchase amount. The rebate can be a %, fixed or maximum amount, e.g. 5% rebate for purchases over $20.00 or $5.00 on purchases over $50. The rebate parameters may include: date, time, rebate % and required threshold for rebate, e.g. 5% rebate with every purchase, 10% rebate if you spend over $50 up to $200.00.

Is a rebate the same as a discount?

No. With a rebate, the customer will pay the full ticket price at the time of purchase. The business will then be charged the amount of the rebate for ethe transaction, which will be deposited into the program fund. From the program fund, the money will then be distributed as a cash rebate back to the card holder, as a donation to the designated beneficiary and a portion will go to the program operations.

Can I change my rebate plan?

Yes. Businesses can change their rebate at any time and as often as they would like. Can I offer “specials” that override the rebate plan? Yes. A business can create and manage multiple specials. A special is an alternative rebate plan that can be activated on one or more days of the week and last for a range of dates. For example, on the first Tuesday of every month businesses can increase the rebate to this %. This can also be used for cross-marketing amongst neighborhood businesses, e.g. offer a special during the monthly Artwalk.

How will the Community Rebate be collected and dispensed?

On a monthly basis a merchants will receive an email invoice stating their total accumulated rebates generated through participating shoppers. This amount will be automatically debited three days later from the merchant’s designated bank accounting through an Automated Clearing House (ACH) transaction. These rebates will then be distributed by I Buy NEO to the customers and chosen beneficiaries as cash back rewards and donations respectively.

How can I keep track of my rebates and account?

Merchants will be able to monitor all community card transactions online through their I Buy NEO account. The account will also detail important program sales tracking information including demographics.

Do I have to change any hardware or software to participate?

No. The program will work on your existing MasterCard or Visa credit card terminal. What if I don’t have a MasterCard or Visa terminal? Businesses can manually enter transactions into their on-line account. If you would like a terminal to swipe the Community Cards, We will work with your organization to obtain one.

Is there a cost for swiping the card in a terminal?

There is a $.26 transaction processing fee using the credit card terminal that Interra pays our payment processor. The fee is deducted from the rebate amount. You are not charged an additional $.26. To cover the cost of this processing fee, merchants must set a rebate amount that at a minimum covers the transaction cost of $.26.

What is the rebate breakout on a qualifying transaction?

If the total purchase amount is $12.60 and the rebate is 10% then the total rebate amount is $1.26.

After the $.26 cents transaction processing fee has been deducted, the remaining $1.00 is broken out as follows:
$.35 as a reward to the cardholder
$.35 as a donation to the cardholders’ beneficiaries (not for profits or schools)
$.30 to the program fund

Is there a time commitment when I sign up for the program?

Yes. Businesses commit to participate in the program for two years. However merchants may withdraw from the program at anytime. The agreement renews automatically on a year-to-year basis after the first two-year term until a notice of termination by the merchant is received.

How will businesses promote the program?

Businesses will be provided window and in-store decals and displays to draw attention to the program. Cardholders will receive monthly e-newsletters highlighting local businesses, events and nonprofits. Stores can also individually promote benefits that they decide to offer through the program. Window posters will promote other businesses participating in the program.

How can I help to increase the impact this program will have on the local economy?

Businesses are encouraged to inform other businesses, tell customers about the program or donate other resources to introduce and promote the program to the community.

What does a store employee need to know to process a transaction utilizing the I Buy NEO loyalty card?

How much time does this add to a purchase transaction?

The only added time the program adds is time it takes to swipes the loayty card.

How do I get started?

It’s easy, there is no cost to enroll. Complete and sign the merchant agreement, void a check, set a rebate plan, and we will stop by to do an initial test swipe.

How will card holders know which stores accept the loyalty card, and what type of rebate the store offers?

All participating businesses and their current rebate offers will be listed on the I Buy NEO online directory at www.ibuyneo.com and they will display window decals and in store promotional materials.

How does a card holder keep track of their rebates and donations?

Every time a purchase is made and the loyalty card is swiped, cash rebates are recorded in the card holder’s account. Card holders will receive monthly electronic statements detailing their total earned cash rebates as well as the total donations generated for selected non-profits in the community. Cash rebates can be redeemed once they reach $25.00.

What non-profit organizations are eligible to be beneficiaries on my card?

Any organization registered as a 501c3 and any local school is eligible to be a beneficiary on your card. You may choose up to 4 organizations to receive donations every time you use your I Buy NEO Community Card.

How do I update my I Buy NEO Business Listing?

Click here for instructions