E-commerce giants and digital wallet companies \u2013 ranging from Amazon Pay, Google Pay, PhonePe to Paytm - are wooing the Valentine's Day couples with cashbacks and reward points. For instance, the Apple-HDFC Bank's Valentine's Day offer consists of up to Rs 7,000 cashback on iPhones, and a cashback of Rs 10,000 on iPads and MacBooks. Similarly, under its 'Fly High in Love\u2019 flight offer, Paytm is offering customers up to Rs 2,500 cashback on flights ticket bookings before the Valentine's Day. However, these cashbacks and reward points work differently and also vary from company to company. Experts suggest before opting for any of them, one should be well aware of their terms and conditions. Difference between Cashback and Reward points Cashback and reward points are slightly different. Cashback, unlike discounts, does not offer a flat reduction in the price of the product. It is a pre-determined percentage of money or an amount that is returned to the buyer on the purchase of a product or services. Reward points are also given, when you make a purchase, like cashbacks, but what you get are points, they are not cash, which could be converted into cash. The conversion of reward points to cash varies from company to company providing them. To Earn you need to Spend first To collect reward points and cashbacks or even to avail them, you need to spend first. This, however, varies across companies and platforms. Mostly, these companies and platforms firstly ask you to spend a certain amount of money, make a higher amount of purchase to be able to use your existing cashbacks and reward points. Experts suggest shoppers should be aware of these kinds of offerings. Make sure you don\u2019t end up spending in excess just to bag these incentives. How to use them The cashback and reward points vary depending on the company who is providing them. Some of these cashbacks can be fully used in any future transaction, whereas some have limits, that range from 5 per cent to 25 per cent of the amount spent. The conversion of reward points also varies. For instance, some companies treat one point as equal to Re.1, while others treat one point as equal to 25 paise. Availing multiple offers You can sometimes use multiple benefits that are offered on one transaction, or you can avail of only one. For instance, while making a purchase, you might see various offers and discounts on the use of credit or debit card, apart from cashbacks also being offered. In such a scenario you cannot avail both, you have to choose between either of the two offers. However, some brands depending on their tie-ups, offer more than one benefit. For instance, in the Nearbuy app, if you are reserving seats in a restaurant, you can avail the discount being offered by the restaurant on the app along with additional cashbacks (if offered by the app) that can be used for future bookings via the app. Disclose your personal information Some of the e-commerce websites and apps offer additional reward points if you are prepared to disclose your personal information with them. For instance, if you are willing to give them access to your phone's contacts. Goibibo's loyalty reward programme offers its customers to earn more through sync contacts, updating member profile, referrals, social gratifications, and business profile.