Loyalty Pay is a game changing rewards payment solution which expands the value of rewards programs. Loyalty Pay drives loyalty to Brands, and gives consumers universal ability to pay with reward currencies at the POS in retail stores and in-app through digital wallets, wherever Apple Pay or Android Pay is accepted.
Introducing Loyalty Pay
Differentiate Your Brand and Drive Enduring Loyalty
Loyalty Pay eliminates the friction of traditional reward redemption models, facilitating frequent payments, customer satisfaction, brand preference and loyalty.
With the ability to deliver true point ubiquity with unlimited choice and a fast and easy redemption experience, your consumer brand will experience top of wallet usage and will benefit from long term customer loyalty.
The Future of Loyalty is Here
Loyalty Pay gives consumers endless choice, thereby transforming reward currency redemption from an annual or bi-annual event to a new everyday payment solution. Consumers who redeem their reward currencies multiple times have higher customer satisfaction and greater loyalty to brands.
To make a purchase using rewards currencies in retail stores, users simply tap on their Loyalty Pay digital account, which stores their rewards points and point balance, at the POS contactless device. Purchases made with Loyalty Pay can be supplemented with a credit, debit or gift card.
67 percent of consumers want loyalty functionality in mobile wallets, making it the most popular feature
94 percent of customers indicated they would use mobile wallets if they were able to earn and redeem loyalty rewards through the platform
Program Sponsors want to differentiate their brand and drive customer engagement, loyalty and positive financial results with reward programs. Loyalty Pay helps them achieve all these goals. A custom branded Loyalty Pay solution gives Brands everyday brand exposure and usage while driving customer satisfaction and emotional loyalty. Loyalty Pay helps program sponsors reduce their point liability and drive positive financial results through program usage. Sponsors will also be able to participate in new co-marketing opportunities, real time messaging and offers to drive further customer engagement.
Consumers can finally be able to get the full benefit from reward programs without leaving ‘money’ on the table. With endless product selection and the ability to use rewards currencies at virtually any retail store, Loyalty Pay gives consumers the ultimate choice of where to shop with their points to get the best value. Loyalty Pay also acts as a budget extender for consumers who will have more to spend by using their rewards currencies for everyday purchases.
Loyalty Pay opens a new source of funds into the commerce market with an estimated market value of $160B in reward currencies which are currently ‘locked’ in closed loop reward fulfillment systems. Retailers who accept Apple Pay or Android Pay at the point of sale benefit from increased sales volume, new customer acquisitions, loyalty and repeat business. They will also be able to take advantage of new co-marketing opportunities.
Loyalty Pay will drive wallet adoption and add real value and utility to digital wallets. Loyalty is perceived to be the most valued feature that U.S. consumers desire in mobile wallets and will likely be the tipping point to change customer behavior, as 94% of consumers indicate they would use mobile wallets more often if they are able to earn and redeem through the platform.