Photo (cc) by GotCredit
If you do much online shopping, you know it’s virtually impossible to keep track of changing prices. Internet retailers seem to constantly change their sticker prices, making it difficult to predict how or when you may score the best deal. It’s even more frustrating to make a purchase and find out later that the product price dropped after you hit “checkout.”
Sure, you can request a refund if you find the price discrepancy quickly enough, but that takes both time and effort. Wouldn’t it be great if someone (or something) monitored your online purchasing and got you an automatic refund if you (unknowingly) overpaid? Sounds amazing, right?
Fortunately for consumers, that “something” already exists and it’s known as Paribus. It’s an app that automatically gets you refunds when a product’s price drops or you miss a coupon or a price-match. And the best part about Paribus (besides saving money!) is that you don’t have to lift a finger or monitor a single product price. Paribus does everything for you.
Here’s how it works. Paribus scans your email account for purchasing receipts you’ve received, analyzes the content and stores it in its database. Then it starts scanning the Internet for price drops from the retailer.
If it finds a product price drop (or a coupon or lower price match) during the store’s refund period – which is typically seven to 15 days after you made the purchase – then Paribus submits a refund request on your behalf using an automated email. Paribus charges you roughly 25 percent of any refund money it recovers.
For example, let’s say I purchase a pair of shoes on Amazon for $35 and five days later, the price drops to $25. Paribus will apply for a refund of $10 for me and if it’s successful, it will keep $2.50 and give me the remaining $7.50.
You might think a 25 percent commission is steep, but considering I had no idea the shoe price dropped after I made my purchase, I think it’s a pretty great deal. Plus, your first deal is free. The commission fee also temporarily drops if you refer a friend to Paribus.
According to its app page, Paribus has been successful in getting money back for over 90 percent of its active shopping users. If you shop at any of these websites, Paribus may be able to save you money.
Signing up for Paribus is quick and easy. I know that because I just did it. It took about four minutes.
You need to give Paribus your email address so it can automatically track your purchases. You also need to provide credit card information so, if the app is successful in getting you money back, it can collect its commission.
Are you hesitant to hand over your email address, access to your online shopping emails and credit card information? That’s understandable. But Paribus says it’s taken steps to keep your info secure.
Paribus transmits all information over SSL and uses bank-level encryption to store sensitive data. It has been tested and certified to be secure by McAfee, the world’s largest dedicated security company.
Paribus does not live in your inbox. We place custom webhooks to detect and pull ONLY receipts from stores based on sender and subject alone without examining the email contents. So your inbox contents stays fully under the security and supervision of your email provider (like Google and Microsoft).
This seems like a win-win to me. It’s kind of like getting free money since I didn’t know I had a refund coming to me before Paribus stepped in. In fact, I just got an email from Paribus letting me know that they’ve requested a refund from Amazon on my behalf for a book set I purchased for my daughter this week. Awesome! It looks like Paribus has already saved me money, and I’ve only had it for 15 minutes.
What do you think about Paribus? Do you plan on trying it? Share your comments below or on our Facebook page.
Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.