For those who’ve missed the email, here you go:
We wanted to let you know that we’re making changes to our Rewards Terms & Conditions. These will affect the way Rewards are earned and redeemed on Jupiter.
There’s no action needed from you.
We encourage you to read more about these changes on our Terms & Conditions page. You can also view these changes by visiting the Rewards tab on the Jupiter app. Here are the highlights.
Rewards make your experience better, and we’ve made them more secure and responsible. With these new changes, we’ll be able to reward Qualified Purchases only.
We’ve seen some folks abusing Rewards on Jupiter. So we’ve introduced the concept of “Qualified Purchases for Rewards” . This means that some transactions, which aren’t Qualified Purchases , will not be eligible for Rewards anymore. That’ll help prevent the misuse of Rewards, and will enable us to give more benefits to genuine users in the future.
These updated terms will apply to all transactions made 1st September 2021 onwards:
* Rewards for Domestic Qualified Purchases, made using Debit Card & UPI, will be redeemable 15 days after you earn them. On the app, you’ll be able to see the date after which you can convert Rewards to cash. We’re doing this to account for refunds/reversals of transactions and to prevent misuse.
* Rewards for International Qualified Purchases, made using Debit Card & UPI, will be redeemable 45 days after you earn them. Everything else will work the same way as for Rewards earned on Domestic spends.
* Payments for digital wallets, credit or loan products, or online gaming platforms will not be eligible for Rewards. In addition, transactions at gambling platforms, financial, legal or political institutions will also not be rewarded.
* Jupiter will have the sole and final discretion in identifying a purchase as a Qualified Purchase for Rewards.
Our commitment to giving you an amazing & transparent experience on Jupiter hasn’t changed. As we grow, we may take steps to prevent misuse of features. Just to make sure that genuine usage of the Jupiter app gets its fair share of benefits.
Thank you for being one of the first few Jupiter members, and please visit Jupiter Help if you have any questions.
I feel like Jupiter can just make negative Jewels, this will probably harm everyone less, yes, still there will be some loss for Jupiter, but it will all probably be less. Or like wallets do, if at the time of refund there are remaining jewels in the account then just debit those jewels and if there aren’t. Credit the refunded amount after adjusting for redemption with a little note in the transaction reversal page about the adjustment.
I just think there are better ways to implement this and this is just one- don’t take it harsh- a lazy implementation. But you could also argue Jupiter is trying to keep it simple. Isn’t “Instant Rewards” an exceptional marketing term?
I am keen on what are your thoughts are, you fantastic Jupiters