What is Online Redemption?
Online redemption is a brand new function available through the Cyclescheme Extranet. It allows you to redeem Cyclescheme Certificates via your secure Extranet login and receive payment without the need to return the Certificate to us. Please refer to the flowchart below for a summary of how the process works.
In future, Cyclescheme participants will be sent their Redemption Code in a variety of ways; many will still receive a Certificate, but we will also offer participants the ability to receive their code via Email, SMS, or via their own secure online account on the ‘My Cyclescheme’ area of our website.
Process flow chart of the Online Redemption Process
Why have we introduced it?
Online redemption is just one element of a number of upcoming changes to our system that will:
- Reduce scheme administration and cost to you;
- Reduce the amount of time between quotation and redemption;
- Simplify the process for scheme participants;
- Result in even quicker payment turnaround for your store.
What are the advantages to you?
The new online redemption functionality will negate the need for you to post your Certificates to Cyclescheme, creating a saving through reduced postage costs.
By redeeming online you will reduce the amount of time it takes to receive funds from Cyclescheme, leading to improved cashflow for your business.
Certificates can and occasionally do go astray in the post; online redemption is a fast and secure way of informing us that you have provided a bike package to a participant and trigger the payment process. You can then track the progress of your certificate redemptions each time you visit the Extranet.
How does it work?
If you receive a Certificate with a redemption code (shown below) then you will be able to redeem it via the Extranet and will subsequently not need to post the Certificates to us for payment.
*Please be advised that the redemption code is case sensitive.
Can we still return Certificates by post?
We are sure that many stores will benefit from the online redemption process, but we know it will not suit all of our partners. Therefore, the option to post Certificates to Cyclescheme for payment will remain in place.
Want to know more?
If you have any questions or comments regarding the proposal please feel free to contact our Partner Store Liaison team on firstname.lastname@example.org.
What can we do to help?
Naturally, we hope you will benefit from the ability to redeem your Cyclescheme Certificates online.
We appreciate and value the fact that all of our Partner Stores are unique in the way they operate and the products and services they offer. Hence, we would value your thoughts and comments at this time on how we can ensure this process works best for you and your staff.
If you have any comments or suggestions regarding online redemption, please email them to our Partner Store Liaison team on email@example.com. We promise to consider your feedback in order to improve the process we build over the coming months.