Loyalty Reward Programs are common in the Philippines. Starbucks has a loyalty card that can net you free coffee on your birthday. Bench has one. SM has advantage and prestige cards. Created to foster loyalty of the customers to the brand, you can’t help but notice that there are so many of them right now. Your wallet may not be able to fit all of these cards.
What if there’s just one loyalty reward program that can be used across different brands? And since we are into cryptocurrency, what if it is purely digital? Loyal Coin might just be the answer to that.
Loyal Coin Philippines
Built on the blockchain, local firm Appsolutely wants Loyal Coins to replace the traditional rewards points that we come to receive when we load our mobile phone or when we buy something at SM. Rather than different reward points existing in different places, everything can be on the Loyal Platform. Customers earn Loyal Coins from brands (retailers/merchants). They can then choose to use it on the same brand or pay for items from another brand.
All this happening on the Loyal Platform, built on the blockchain, which allows inter-brand rewards system to be transparent and possible.
How to Earn Loyal Coins
Whenever you buy something, let’s say from Brand A, you will earn a token – Loyal Coin. You can then use it to redeem rewards from Brand A, or use it to redeem or purchase from Brand B and C.
Where will Loyal Coins be Stored?
It will be stored in the blockchain-backed “Loyal Wallet“. From the wallet, you can pay online or even convert your Loyal Coins into bitcoin or ethereum or even Pesos.
Where is Loyal Coin and the Loyal Platform Launching?
It is launching in the Philippines and other Southeast Asia Countries. The platform is also intended to launch in North America in 2018.
How is this going to be beneficial to customers?
You have one rewards system for all brands who participated. The Loyal Coin can be used and be redeemed to any merchant regardless if you receive it from another merchant.
How is this going to be beneficial for retailers/brands?
This can negate the need for the merchant to create its own rewards platform, which should be added cost. Furthermore, participating means the merchant’s product is promoted through the platform.
When is the Loyal Coin ICO?
Token Presale will start on November 10, 2017 at https://loyalcoin.io/
Loyal Coin ICO
The ICO is slated to start on December 11, 2017. Check the link above to learn more.
Who is behind the Loyal Platform?
Appsolutely is a local firm whose expertise is in the creation of digital rewards platforms. It has created reward programs, apps, etc to popular brands in the Philippines such as Bench, Starbucks, and Gong Cha.
A rewards program across different brands under one coin is probably a very real-use case of the blockchain technology in an existing industry. Appsolutely is in talks with certain brands to participate in the Loyal Platform. But whether they participate or not, the rewards program industry will not be the last to get disrupted by the blockchain technology.