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English definition of “cashback”

cashback

noun [U] uk   /ˈkæʃ.bæk/ UK us  

cashback noun [U] (PAYMENT)

a system in which banks or businesses encourage people to buy something by giving them money after they have bought it: The major banks are offering cashback deals of up to £5,000 on their mortgages.Forms of money and methods of payment

cashback noun [U] (MONEY)

an amount of money that a shop, usually a supermarket, allows you to take from your bank account when you pay for something with a bank card: £20 cashbackWithdrawing money
(Definition of cashback from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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