US telco to exchange loyalty currencies for talk-time
Telehop Communications Inc. has launched a new programme for US-based loyalty programme operators, allowing the real-time exchange of loyalty points for discounted long distance services.
The new points exchange programme allows loyalty cardholders to exchange their loyalty points from participating loyalty schemes for long-distance minutes from any telephone in the USA. The automated loyalty points conversion system was designed to avoid the need for loyalty programme operators or cardholders to pre-purchase blocks of telephone time, and to avoid the need for 24/7 customer support lines.
For the points conversion, Telehop offers minutes to loyalty card operators at a wholesale rate. Then, to use the service, consumers simply dial a toll-free number and enter their identification code. They can also use any credit card to purchase additional minutes. Revenue earned through the service is then shared with participating loyalty programme operators.
"Loyalty card holders benefit from being able to cash in their loyalty points for a common, everyday expense, and loyalty programme operators benefit by offering their members a high perceived value reward at low cost, without handling or administrative costs," explained Hersh Spiegelman, president for Telehop Communications Inc.