In this post we are going to discuss whether Paribus is a scam and should use it. If you have been looking for ways to make money online or looking for apps to pay you, it is likely that you would have come across Paribus.
What is Paribus
Paribus is a price tracking app by Capital One which monitors prices of your favorite products and helps to retrieve cash back from your purchases by filing price adjustment claims. On the apps’ website the company state that they have saved over $29 million for their users to date.
Paribus was founded by two entrepreneurs Eric Glyman and Karim Atiyeh in 2014, however Capital One bought the company in 2016.
What Stores Does Paribus Work With?
If you bought an item online and if the price ever drops, the company negotiates to get you’re the difference in money back for you. If there is a price guarantee on products Paribus will file the claim for you instead of you having to do it yourself.
There is a list of particular companies that Paribus work with to claim back price adjustments. If you shop at the following stores you can use Paribus to claim back price adjustments:
- Best Buy
- Old Navy
While it is possible to file price adjustment claims, it is a tedious task that requires quite some time to achieve. Paribus uses software to automatically check prices and make claims for you. This is a good time saving tool for regular customers.
If you have a late delivery, Paribus will negotiate with the retailer you purchased from to earn compensation from you.
Hotel Price Tracking
The Paribus app also tracks hotel room prices. When you book a hotel room online, Paribus will track of the prices and help you rebook at a lower price and get your money back from the more expensive purchase.
Getting Started With Paribus
To get started with Paribus, you sign up through the website or through the app and give read, send and delete access to the Paribus Receipt Fetcher. This function allows Paribus to keep track of your online receipts that come to your email. This feature allows Paribus’ software to track price adjustments from your purchases.
If you are OK with this company constantly scanning your emails, then you should consider using this service. If you are worried about your privacy then you should look at alternatives.
Once the Paribus software finds purchases that are eligible for a price adjustment refund, you can choose to approve them.
Check this list of apps that pay to scan grocery receipts
How Does Paribus Pay You?
Paribus can send refunds from price adjustment claims straight back to your bank account if your card is linked. One of the best things about this service is the fact that you do not have to achieve a certain payment threshold in order to get paid as is the case with a lot of other apps that pay you.
Will Paribus Earn Lots Of Money For Me?
The answer to this question will depend on the rate of online shopping that you do and if you are a regular shopper at the online stores that have been mentioned above.
You will only make money from this app if you have made previous purchases on products and the price has dropped after your purchase.
Is Paribus Legit and Safe To Use?
Paribus take data issues seriously and make every effort to keep customer information safe. However, how safe is any system that any business uses to store and access personal information? There will always be a risk in providing personal information on the internet, whether it is to a shop for making a purchase or using an online bank.
It only takes a minor exploit for any hacker to access any data system, therefore you can use Paribus with the same risk as any other app or online payment processor.
Is Paribus free?
Yes Paribus is free to download to your smartphone and use. The app is only available for people in the US and Puerto Rico.
As a customer you will not get charged by this company but they will retain a success fee upon a successful claim.
How Does Paribus Make Money?
When Paribus finds a receipt which you are eligible to claim a refund for, they will retain 25% of the amount. While 25% seems like quite a sum of free money to retain, the fact is you probably would not make such a claim in the first place.
At least you get to keep 75% of the fee which is unlikely that you would ever have claimed back.
Are there any Paribus Alternatives?
There is a similar app called Earny that also offers a similar service. It also scans your emails for shopping receipts and gives you a refund on a successful price adjustment claim. The difference with Earny is the fact that they take a 25% commission of the refund amount. This pricing is similar to Paribus.
With so many top retail companies now selling their products online and with price competitions, there will always be price fluctuations. This is where apps like Paribus come to the fore. Consumers are often duped into making purchases for items, which are in demand or seem like a good deal only for that item to fall in price over time. This means there are huge opportunities for customers to claim money back for price drops.
One of the reasons for the growth of Paribus is the fact that they have positioned themselves as a helping hand and defender of the customer against the large corporations.
Is Paribus A Scam & Should I Use It?
Paribus is not a scam and they are a legitimate company that are likely to grow in stature over the coming years.
The idea of Paribus is a good one and the company is likely to be worth many millions in the future.
Whether you should use it, is up to you. We highlighted the fact that the company gains access to your emails in order to work. If you are ok with this then you should probably work with it.
If you purchase products on a regular basis or buy high priced items, then you will likely get some money back. Remember, Paribus can only claim back for purchases from certain online stores.