Carlo App revisits referral programme
The Carlo application is available in Monaco and Aix-en-Provence - © Communication Department / Michael Alesi
Carlo users will no longer earn 2% for referrals. But there will be new benefits, reassures the Monaco-based start-up.
If you are a Carlo user, you will no doubt have received an e-mail explaining changes to its referral programme. A number of users commented on the message via social media. The start-up says it has stuck to its mission statement since the app was launched in 2019: “to help local businesses with a local payment app and a local loyalty programme, on a city-wide scale,” says Antoine Bahri, Carlo’s co-founder.
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“The referral programme has fulfilled its purpose”
Carlo is a cashback application, aimed at businesses in the Principality. The start-up receives 10% for every purchase, including 5% cashback for the user, 2% for the referrer (‘sponsor’) and 3% in fees. The 10% was originally borne by the shopkeeper, but in 2020, during the Covid period, the Monaco Government supported the project by covering that cost. “The project was meant to last four months, but in the end it’s been four years,” says Antoine Bahri, “There’s a real interest, it’s efficient, and all the players are on board.”
Today, Carlo has around 70,000 users, and almost 80% of the Principality’s businesses are members of the programme. “Now it’s time to make some adjustments. The referral programme has really fulfilled its purpose,” says Antoine Bahri. With the aim of “optimising costs, we are changing our referral model; it is not disappearing, but it is evolving.” From 1 April 2024, “the sponsor will no longer receive the 2% cashback on transactions made by the person they refer, but will receive five euros for the first payment the referee makes,” explains the company director.
Secondly, in addition to the five euros, “we will be adding another benefit, with ad-hoc offers. For example, we’re going to set up campaigns such as: ‘During the month of August, if your referees make a certain volume of purchases, you’ll be rewarded with X euros.'” The 2% will be used to fund this feature in future.
Looking further afield?
Carlo, a start-up that has become a key player in the Principality, is constantly expanding. Since 2020, the application has retained its cashback-based model, but a number of new features have also been developed, such as payment between friends and gift vouchers. Also of note, the “exceptional Carlo bonus”, for civil servants in particular, is coming to an end. Despite a comment saying “many of us still haven’t spent all of our money,” Antoine Bahri assures us that “it’s a success every year, almost 99% of the money is spent.”
At the end of 2022, the application set out to conquer Aix-en-Provence, with convincing results. So where next? Bordeaux, Toulon or Annecy? Many cities are a potential target for the Monegasque company’s expansion.