> Dosh makes money by taking a percentage on each transaction facilitated through its cashback network.

> It can command a portion of each transaction in exchange for directing new and repeat customers to the merchants it partners with.

> Dosh claims that its app leads to a 29 percent increase in purchasing frequency. Furthermore, conversion rates are lifted by 72 percent whenever consumers are shopping with Dosh.

Re: customer-middleman-merchant, it sounds like it could be win-win-win if the middleman can introduce a new customer to a merchant providing a useful good/service. Customer gets useful good/service at a slight discount - albeit a smaller discount perhaps than if dosh wasn't taking a cut - dosh gets a cut, merchant gets a new customer while paying for both the customer's discount & dosh's cut. Then perhaps win-win-lose or lose-win-lose if the customer turns into a regular and continues to purchase through the middleman. So i don't understand why customers & merchant would keep dealing through dosh for repeat business.