MoneySaver is aiming to be India’s most comprehensive deal/discount destination. It helps you save money on everyday errands- eating out, shopping, travel, buying cinema tickets et al. MoneySaver’s key advantage is its coupon database, which it claims is the country’s largest database of offers from top brands and premium restaurants. Based out of Delhi, Moneysaver is cofounded by Kunal Bahl, a former Microsoft employee. It is presently on offer only in Delhi/NCR but plans a nationwide expansion soon.
So how does it work? At the heart of the system is the MoneySaver booklet which you need to buy for Rs 399/-. This contains paper coupons & mobile coupons, which can be redeemed at the merchant establishments (for the mobile coupons, you need to register you mobile number first using a scratch card that comes with the booklet). You can buy the Moneysaver booklet online, or from affiliate stores. The booklet has a validity of 6 months and contains discounts for a cumulative sum of Rs 30,000/- (WOW! thats a whole lot)
The company is targeting not just end consumers, but corporates & institutions as well. Institutions (e.g. schools) can use MoneySaver as a fundraising tool by retaining a portion of the sale proceeds. Large corporations can have customized MoneySaver books/discount programs into their sales, marketing and employee benefit programs. More details here and here.
Shopping is usually a highly localised activity. And deals/discounts make most sense if they are available at outlets that the consumer typically visits (there is lesser likelihood of the discount being availed if it is for a completely new shop). I checked out the deals on MoneySaver for Delhi and it covers many shops/showrooms that I visit regularly. So thats a definite plus!
There is off course no dearth of shopping discount booklets/coupons on offer, but their distribution and administration is fragmented. Often they are delivered through local vendors, newspaper hawkers etc. There are a handful of websites that aggregate shopping deals as well, but I doubt if they have significant traction. MoneySaver therefore has certain advantages that are hard to miss – it is planning a national footprint, it has its own website for distributing the coupon booklet, and it has a direct interface with merchant establishments for the deals, instead of relying on a third party or aggregating it from elsewhere.
{ 7 comments… read them below or add one }
Pretty cool idea…
Very nice. As RouteGuru co-founder, I cannot but foresee another application of this, namely delivery of location-based discount coupons through SMS-based LBS applications like ours.
Avinash
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RouteGuru
http://www.RouteGuru.com
New Delhi | INDIA
Avinash RouteGuru com
(Check out our fresh-out-of-oven route-mashup with Google Maps. Visit RouteGuru.com.)
It is mind blowing
MoneySaver is totally a bullshit. I am in delhi and since past 2 weeks I am constantly trying to book movie tickets by Bookmyshow.com. I contacted the customer service of Bookmyshow and they said there is some technical problem and it will get fixed soon. What is a kind of technical problem that can not be fixed in two weeks. Actually the problem is that bookmyshow site does not support the WinPin provided by MoneySaver.
My 400 INR is now in Dustbin.
Please beware of these money sukkers.
Mayank Jha
09312225758
Kunal Bahl, Nitin Bahl, Rohit Bansal the soo called owners of this moneysaver located at mansarovar gardens are cheats and fraud. They are using the names of renouned institutes, which I don’t have they really been to. FIR with the police are soon going to follow for running around with there creditors money. Please be aware of such kind of persons.
Its interesting, but can you tell me Moneysaver’s deals with Advertisers? Because its a huge deal and i want to know how did they proceed. Just curious to know. Send details to this address, karthickk3(at)yahoo.co.in
Bahls are cheaters. Got mugged and coupons on their site are not endorsed by vendors.