B&H launches Payboo credit card to offset sales tax costs
B&H Photo and Video has apparently responded to the 2018 South Dakota v. Wayfair SCOTUS ruling – which requires out-of-state retailers to collect sales tax on internet sales – with a credit designed to offset sales tax costs to consumers. The Payboo credit card, in a partnership Synchrony Bank, will offer instant savings to buyers in the same amount as sales taxes. According to the site:
B&H will charge the total of the merchandise plus applicable fees and taxes; but we will instantly issue and apply a reward at checkout (you will see “Payboo Card Savings”). Thus, the benefit will be automatically applied, and the Payboo Card will only be charged the net amount.
Sales taxes will still be collected and paid by B&H; the New York retail giant is placing the amount on the Payboo card, which can only be used at B&H:
The card may be used to pay on our websites, on our mobile app, in our NYC SuperStore, or by phone. Payboo is only available for use at B&H (i.e. it is not a Visa, MC, Amex, DC, etc).
Click here to apply.
Clever marketing, basically its really just a loyalty program, but uses the phycological issues many have with taxes and the perk instead of points or savings dollars. Its a smart idea that many will jump on.