How to get money back when prices drop - NBC12 - WWBT - Richmond, VA News On Your Side

How to get money back when prices drop

RICHMOND, VA (WWBT) -

You buy an item online, then the price drops a week later. Many retailers have a built in guarantee that they will refund you the difference, but you have to do the work to get it. Now there's another way.

“What Paribus does, is it automatically gets you the money your owed,” said Eric Glyman, Paribus CEO.

This is how Paribus works. You sign up online and link your email account that you use for shopping.

“Whenever a price drops on something you bought on Amazon, Macy's, Best Buy or whatever, it will automatically communicate with the store to get you paid and you don't have to lift a finger,” he explained.

The refund will show up on the account you used for the original purchase. Paribus gets 25 percent, your take home is 75 percent, but there is a way to get the entire amount paid to you.

“For every friend you bring on, we'll bring that rate down by an additional 5 percent. So, refer five friends and it's totally free,” Glyman said.

Paribus is working with major national retailers like Amazon, Target, Best Buy and Walmart. If you missed a coupon code that could have lowered your price, Paribus can get you that discount. Their clients are saving about $100 a year on average but depending on how you shop online, that number could go much higher.

“Someone the other day bought a new suit for work. Bloomingdale's did a 50 percent off sale and they saved $500 overnight," Glyman said.

More than 100 million price changes happen every day and Paribus feels like you should have the same technology at your fingertips.

“You're owed this money and we'd love to help you get it,” said Glyman.

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