TAMPA (FOX 13) - Save money while you sleep.
If I were writing a tagline for Paribus.co (yes it’s .co, not .com), that’s what I would choose.
This tiny start-up has ingeniously automated the process of filing claims for stores’ price-protection plans -- those little known policies that guarantee a refund when a price drops after you make a purchase.
For example: You buy a shirt today for $15.99. Tomorrow it goes on sale for $10.99. Many stores will give you a $5.00 refund if you ask for it.
"We think Americans are leaving $10 to $15 billion unclaimed,” said Paribus CEO Eric Glyman.
Glyman estimates very few shopper s -- maybe just five percent -- are aware of these consumer-friendly policies. And even fewer actually file claims.
There’s a good reason: it takes effort to keep receipts, track sales, and file paperwork.
If you give Paribus access to your receipts via e-mail, it will scan for lower prices for you -- hands-off. Then, when it spots a lower price, it will automatically file a claim on your behalf.
TRY IT: http://www.paribus.co
Paribus will also scan for scenarios where a store will match a competitor’s price.
"All these stores have different policies,” Glyman said “Our software doesn't sleep. It will look and take into account all those policies for you."
Glyman says more than 50,000 people have begun using Paribus. It makes money in taking a cut: 25 percent.
"We only make money if we are saving you money,” he said. ”Our normal cut is to charge 25 percent of the amount that we save you. So, it we save you $10.00, we charge you $2.50."
Could you do the research yourself and save the 25-percent commission? Yes, you could. But will you?