Monaco’s popular cashback app, Carlo, is getting a policy revamp from 1st April, when a yearly spending cap of €3,000 at each partnered business will be brought into effect. The move, says the government, is being made as a way to “ensure the sustainability of the programme”. Here’s what it means for you.
Established in July 2019 by entrepreneur Antoine Bahri, Carlo was designed to bolster Monaco’s local economy by rewarding app users with 5% cashback on purchases made at affiliated merchants, which include a diverse range of goods and services, such as restaurants, retail stores, food shops and wellness centres.
The app has since built a robust community, collaborating with approximately 900 retailers in the Principality, Aix-en-Provence and Bordeaux to amass over 86,000 users.
Now, according to a newsletter sent to users on 24th March, Carlo is set to implement a change in policy that will go into effect on 1st April, whereby a €3,000 annual spending limit per business will be placed on subscribers. When users near their spending limit at particular merchants, they will receive an automatic notification alerting them of the remaining amount they will be able to spend.
“This decision was made as part of an optimisation of public funding, to allow more users to benefit from the programme while ensuring its impact on Monegasque commerce,” reads the company statement. “In practice, this measure will affect less than 9% of users, and the vast majority of you will continue to use Carlo as usual, without any impact.”
To find out more about the app and how it works, click here.
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Photo source: Carlo App