When cryptocurrencies first made an appearance, they were so far ahead of their time that most people had difficulties to really grasp the concept. Now, nearly ten years after bitcoin was first introduced, more and more of us are realising its potential, particularly as an investment vehicle, where bitcoin has almost become the digital equivalent of gold. Whilst many are wishing they had invested earlier, it is not too late to explore the opportunity, and with Loylogic’s latest innovation one can do just that even with their points and miles.
As we strongly believe that there should be no difference between the shopping potential of a regular cash shopper and what member should be able to purchase with their loyalty currency, we were eager to open up yet another unique redemption opportunity.
To this effect, we developed this new reward option, in which loyalty program members can redeem their points or miles in exchange for bitcoins. It is presented in a seamless user experience fully integrated into the members’ loyalty program platform. Aligning with the ongoing trend and currently bright looking future of virtual currencies, the conversion to bitcoin is only the first step of many more to follow.
But why is this so powerful and unique for the loyalty industry?
One of the great advantages of cryptocurrencies is that their conversion can be processed in real-time without any further wait, an aspect that other loyalty currency exchange options are lacking today.
Furthermore the exchange from one loyalty currency into another is generally expensive with a member paying extra for this redemption luxury. This is not the case for the Bitcoin exchange redemption feature.
The biggest novelty with this, however, is that for the first time members now can make a real financial investment including, of course, the typical risks and benefits associated to any type of capital investment. Since its first life program launch, for example, the converted bitcoins have in average encountered an over 200% appreciation. Consequently the perceived value of the used loyalty currency by the member appreciates at equal measure and with it positively impacts the member’s satisfaction and connection to their program enabling this.
We are very much looking forward to further develop and enrich this special feature, as its creation in this truly untouched loyalty terrain supports Loylogic’s strong vision that providing choice to program members is the key driver for loyalty success. Offering unparalleled flexibility and investment potential with this unique reward option makes Loylogic succeed once more in its constant quest of ultimate redemption power and freedom for its clients’ members.
Loylogic has been shortlisted as a finalist for the Mega Award 2017 in “Excellence in Loyalty” for their innovations in cryptocurrency and loyalty.
Vera Martocchia, Global Marketing Director at Loylogic.
Loylogic is the world’s leading innovator and creator of points experiences, insights, commerce and engagement. By tantalizing members with more choices and arming programs with insights on behavior – anticipating both present and future needs – we deliver powerful solutions that amplify engagement and build loyalty.
Founded in 2005 with offices around the world and a global content network of more than 500 merchants and 2,000 online stores offering millions products and services, Loylogic, the new paradigm of points-based e-commerce and e-payment solutions, is the partner that the world’s leading loyalty programs trust with making their points and miles loved more.
For more information please visit loylogic.com.