The South African coffee house Mugg & Bean has launched a prepaid gift and loyalty card called the 'Endless Gift Card' in conjunction with its customer relationship management provider, Infinity.
The Endless Gift Card works as a combined gift voucher and loyalty card. It contains a pre-loaded cash amount (the gift voucher portion) that can be spent at any Mugg & Bean outlet in South Africa.
Because the card is part of the Infinity loyalty network, it also allows cardholders to earn CashBack Rewards at thousands of other Infinity partners nationwide. Other Infinity partners include Hi-Fi Corporation, Mica, and Avis, among others.
But as consumers spend money (including the funds on the gift card) at Mugg & Bean locations, they also earn CashBack Rewards, which translate directly into cash that is instantly credited back to the card.
CashBack Rewards are not based on points, miles or 'bucks' - they are credited as real cash. The cash rebate is calculated as a percentage of the cardholder's total purchase (variable, according to the merchant), and is credited to the card within 48 hours of the transaction.
According to Mike Said, marketing manager for Mugg & Bean, "We noticed a real demand for gift vouchers and, along with Infinity, managed to create this endless gift voucher."