redeem
ri-DEEM
/rɪˈdiːm/
To exchange points, vouchers, or rewards for goods, services, or cash.
Implies a formal exchange where something of symbolic value (like points or a coupon) is converted into something of tangible value.
The story behind the word. In ancient Rome, if you were captured or fell into debt-bondage, you could be 'bought back' or freed. This act of buying back was called redimere. Over the centuries, this financial transaction evolved into a spiritual rescue in theology, and eventually circled back to commerce, where we now 'buy back' our points for actual goods.
Word relationships
- exchange: Exchange is a general term for swapping anything, whereas redeem specifically implies converting a token or voucher into its cash or product equivalent.
- cash in: Cash in is more informal and often implies converting an asset directly into cash, whereas redeem can involve converting points into goods or services.
- forfeit: Forfeit means to lose the right to something due to a rule or error, which is the opposite of successfully exchanging it for value.
Commonly confused with
- recover: Recover means to get back something that was lost or stolen, while redeem means to exchange a token of value for a product or service.
Word family
- redemption (noun): The action of saving or being saved, or the action of regaining possession of something in exchange for payment.
- redeemable (adjective): Able to be recovered, bought back, or exchanged for value.
Collocations
- redeem points
- redeem a voucher
- redeem a coupon
- redeem rewards
Idioms & expressions
- redeem oneself
Example sentences
- "Customers can redeem their accumulated points for store merchandise or gift cards at any participating location." Retail loyalty program terms
- "Investors were eager to redeem their shares before the market closed for the holiday weekend." Financial news report
Memory hook
Think of 're-deeming' something as giving it a new 'deem' or value by turning it back into real cash or goods. Redeem: Re-buy your rewards.
When not to use
Do not use when simply buying something with regular currency without any exchange of points or vouchers.
Fun facts
- The concept of redeeming coupons dates back to 1887 when Coca-Cola issued the first-ever paper coupons for a free glass of Coke.
Explore more words
redemption, compensate, exchange, redress, store credit, reimburse
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