Source sets up network of loyalty scheme providers
A network dedicated to diverse loyalty programme providers has been set up by Source Inc. The company's 'Loyaltyshare' concept allows loyalty providers to share intellectual property and strategic relationships to develop their businesses on a reciprocal basis.
The loyalty network is called the Score Rewards Network (SRN), and is the result of more than ten years of development by Source Inc., during which time the company has built and expanded its technology, intellectual properties and strategic relationships to help develop and unite loyalty-related businesses.
Uniting diversity The aim of the network is to draw together a diverse and often competitive group of companies that manage private-branded loyalty programmes. Those participating in the network have agreed to work together under the network's common sharing guidelines.
Such loyalty providers add to the Network their members and merchant affiliates, as well as their proprietary technologies, products and services, in order to expand their market reach, tap into new profit opportunities and gain access to the resources of other loyalty providers. They do, however, maintain the autonomy and benefits of their own private-branded loyalty programmes.
Time is right Richard G. Stewart, president and CEO for Source Inc., commented: "Through my experience in the timeshare industry, I would say that the timing is perfect for launching Loyaltyshare."
The network is open to international loyalty providers, processors and other third-party vendors. While the network is not a loyalty provider in itself, it provides business-to-business access to loyalty solutions, both for existing loyalty providers and for affinity groups that want to become loyalty providers.