Paribus is a price protection app that gives you cash back whenever there’s a price drop within a company’s policy. The Paribus app makes it super easy to get that cash back and makes life so much easier. Best of all, it’s free!
- 1 What Is Paribus?
- 2 Is Paribus Legit?
- 3 How Does Paribus Work?
- 4 Is Paribus Secure?
- 5 Paribus App Pros And Cons
What Is Paribus?
Most retail sites have a time period that allows you to get cash back if the price of the item you bought drops. On most sites, the item must still have the size and color you bought in stock. While you could look for price drops yourself, it’s difficult to monitor a site continuously and frankly, kind of annoying.
Each site usually has a specific email you need to contact for price drop cashback, and there’ll be back and forth amongst you and the retailer.
The Paribus app monitors those sites to get you cash back automatically for free whenever the price drops within the company time frame.
Is Paribus Legit?
Capital One is trying to strengthen its price protection offering for credit cards. Imagine a credit card company that automatically tracks price reductions on every purchase you make. It’s a pretty hefty incentive to sign up with them, right? I imagine this is why they bought Paribus.
In the meantime, I’m going to use the Paribus app for free :D.
How Does Paribus Work?
In order to use Paribus, you’ll need to allow Paribus to read, send, delete, and mange your emails. The reason for this is because Paribus scans your emails via their software for any purchases you make. Then an email will be sent from your email to request a refund.
It’s safe to say your email is secure with Paribus, but if you’re not comfortable, you can always create a separate email just for purchases.
Each retailer offers a different price drop policy. Some offer 14, 21, 28 or 30 days of price protection. Others don’t include the price drop policy for items in the clearance or sale section. Another variation of the price drop policy might be to not include items sold during certain events — Black Friday, Christmas, or an annual store-specific sale.
It’s tough to keep track of all those rules by yourself, so it’s great to have a Paribus be a free tool do that for you.
Here’s what your dashboard looks like below. Purchases might take up to 48 hours to populate.
Which Companies Does Paribus Work On?
Currently, Paribus works on around 30 companies but is looking to add more to the list. You’ll notice they’re all large retailers, which makes it awesome since you’re more likely to purchase things from large retailers anyway.
How Much Does Paribus Cost?
Paribus used to take 25 percent of the amount Paribus saved you, but now it’s FREE.
I suspect they were using human labor for some parts of the price reduction drop prior to acquisition, but now have more sophisticated algos that allows their parent company Capital One to offer Paribus for free.
Does Amazon Or Walmart Have A Price Protection Policy?
Amazon stopped their price protection policy in 2017, but Amazon promises to make it right when there are shipping delays. Paribus is able to negotiate extended complimentary time if you’re a Prime member or a small discount credited to your account. While this isn’t official, Amazon always tries to make it right in our experience.
Walmart also stands by their shipping guarantee. They’re just about the only company that has as large of a warehouse supply chain as Amazon and so one would think they’re trying to compete in the product delivery sector. Paribus helps track the timeliness of Walmart’s deliveries to get you a shipping credit if Walmart is late on delivery.
The Paribus App Vs Website
I don’t really use Paribus’s app because the website has much better functionality.
If you really want it on your phone you can download it via the Apple App or Google Play store, but I’d recommend just using the desktop version. You can sign up on either your phone or desktop though, that doesn’t matter.
When Does Paribus Pay Out?
Paribus pays out whenever a price drop claim is processed on their end. There is no minimum cash out value, so that’s awesome. The money goes straight back to you.
Is Paribus Secure?
Paribus uses the same 256 SSL bank level security as Capital One.
If you’re still unsure about letting Paribus into your emails, set up a new email address that only deals with online retailer receipts. As a bonus, you won’t see retail marketing emails unless you go into that account!
Paribus does not handle any credit card information — that’s all stored on Stripe. If you haven’t heard of Stripe, it’s basically like Paypal, but new companies tend to use Stripe due to their better technology. Stripe had revenues of $2B last in 2017 vs $13B for Paypal. Yet Stripe was only created in 2011.
Here’s a direct quote from Paribus’s website on their security:
Paribus App Pros And Cons
It’s free! Paribus does not sell your data to anyone and that is noted in their security policy contract to you.
Having an automated price drop guarantee software work for you in the background to get automatic rebates is great. Getting a credit to your account when Walmart or Amazon delivers your package late is also awesome.
Getting money back when you’re not even doing anything is the best kind of passive income.
Some of you may be hesitant to give out access to your email, but you can always create a separate email and give those details to Paribus. In any case, if you’re using Gmail, Google has access to your emails already…
If you just buy things on Amazon, you’ll need to be aware that Amazon does not offer price drops guarantees anymore with millions of price changes a day. However, if their delivery date is late, you’ll get a nice credit to your account. In our experience, we’ve gotten deliveries late as much as 5 percent of the time. Yes, we did a lot of Amazon ordering! During the holidays, that number skyrockets.
Olivia worked in finance and wants you to learn the secrets of financial independence. She believes there are so many ways to monetize your life and make money doing the things you're already doing because so many companies offer free money.
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