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English definition of “cashback”

cashback

noun [U] (also cash-back)     /ˈkæʃbæk/ UK
MARKETING, COMMERCE an amount of money someone receives when they buy something, offered by the company selling the product as a way of persuading people to buy it: The mortgage deal includes £250 cashback.
BANKING, COMMERCE a way of getting cash from a supermarket instead of going to a bank . You pay for the cash and your goods using a debit card (= a bank card where the money is taken from your account immediately ): I'd like £50 cashback please .
(Definition of cashback noun from the Cambridge Business English Dictionary © Cambridge University Press)
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