Cashback on eligible payments: how it arises and when it is paid
· The Malak team
From the payment at the merchant to the payout into an account in your name: the four stages of a right to reward, the eligibility rules and the planned timings.
Programme in preparation. No service is open to the public at this stage. This article describes how the programme is designed to work.
The Malak programme rests on a simple idea: you will pay as usual, and some of your payments will open a right to reward. No loyalty card, no code to show at the till, no new equipment for the merchant. Everything will happen after the payment, from a technical notification that will never take part in the authorisation of your transaction.
What you will receive
The public rate is set at 1.75% of the amount paid. A payment of 308.00 DH at an eligible merchant will therefore open a right of 5.39 DH. For a mobile QR payment, the rate will rise to 2.75%. Some merchants will also be able to fund an additional offer themselves, public and limited to 15%.
Calculations will be made in centimes and always rounded down to the centime. The same payment will therefore always give the same result, and anyone will be able to check it.
Which payments will be eligible
Two filters will apply to every payment: the merchant's sector of activity and its identity as a business. The sectors selected are these:
- restaurants, cafés and bakeries;
- health care, with a separate and optional consent;
- hairdressing, beauty and spas;
- car repair and servicing;
- specialist shops: clothing, shoes, jewellery, electronics, furniture, hardware, cosmetics;
- legal and accounting professions;
- dry cleaning.
Outside the programme, among others, will be fuel, large supermarkets, general food stores, telecoms, financial transactions, payments to public bodies, gaming and betting, insurance, alcoholic drinks and pharmacies. Large retail brands and chains will not receive the public rate, even in a selected sector. The aim is to encourage electronic payment where it is not yet the norm, not to reward what already is.
Finally, each payment will have to fall between 20 DH and 5,000 DH. Above that amount the payment will not be refused: only the excess will go unrewarded.
The four stages of a right to reward
A right will not be paid at the moment of the payment. It will follow a life cycle, visible in the app:
| Stage | What triggers it | What it means |
|---|---|---|
| Acquired | Authorisation of the payment | The right exists and you will be notified: “Acquired · paid after confirmation” |
| Confirmed | Clearing of the transaction, usually one to two days after the payment | The payment has gone through for good |
| Due | 7 full days after confirmation, with no reversal or refund | The right can enter a payout |
| Paid | Execution by the bank | The amount will reach the account you designate |
If the transaction is reversed, refunded or left unpaid, the right will move to the state Reversed. If it had already been paid, the amount will be carried forward and offset against your future rights.
Take a jacket at 800.00 DH: 14.00 DH would be acquired at the time of payment. If you brought it back three days later and the merchant refunded you, the right would be reversed and the 14.00 DH would never be paid. If the refund came after the payout, that 14.00 DH would be deducted from your next rights.
When the payout will arrive
Every Friday, the platform will prepare a technical statement of settlement of rights that gathers the rights that are due. Two different people will validate it, and it will then go to the bank that will hold the programme account. That bank, after its own checks, will carry out the payouts. You will also be able to request an Instant Transfer from 50 DH due.
Back to the 308.00 DH, paid on a Monday. The 5.39 DH would be acquired at once. Clearing would arrive on the Wednesday and the right would be confirmed. After 7 full days, on the following Wednesday, it would fall due. It would then enter the Friday statement, 11 days after the payment, and the bank would carry out the payout next.
This delay is not a formality: it will give a reversal or a refund time to appear before any payout.
The payout will go only to an account in your name. Any change of payout account will open a 72-hour period, with a notification on both the old and the new channel.
The caps to know
Public cashback will be limited to 2 rewarded transactions a week and 150 DH a month at the same merchant, and to 1,000 DH a month in total, across all means of payment. Offers funded by merchants will not count towards these caps.
What MALAK FINTECH does not do
MALAK FINTECH is a technical operator. It will calculate rights and record them in a technical register of rights, which is not an account. It will hold no account, no signature and no dirham for its users, and it will execute no payment. The service will be free for citizens.