ICO Today Magazine News
What is Rewards.com? Rewards is an online marketplace for rewards which is comprised of merchants, millions of shoppers, discounts, coupons, products, and contests. Consumers can redeem their earned tokens anywhere in the ecosystem. Members receive access to the tickets and products before they go on the ICO list for sale to the public.
Challenges of the rewards and loyalty industry Loyalty reward programs have a global reach across industries, ranging from health care to retail, and airlines to restaurants. Businesses often offer some sort of loyalty and reward benefits to their customers in the form of non-cash incentives. However, customers have to juggle multiple programs with little benefits. Customers often get fed up with too many loyalty programs which offer them little value. To make a reward program attractive to the user, and therefore successful, it should be simple and deliver real value to the consumers.
Loyalty programs often become complex with their multiple options for earning and redeeming in a variety of currencies. These rewards come in many forms, such as, banks may offer cash back, airlines may offer points, while retailers may offer both of these. So many programs with little value lead to fragmentation, and as a result a significant number of reward benefits are not redeemed.
The scenario becomes more complicated for the customers to realize the true value as each program has a set of ever-changing rules. It is hard for anyone to accumulate enough rewards to achieve an attractive redemption.
Businesses seeking the redemption of reward programs face further challenges with the growing consumer privacy concerns and rising management costs. Moreover, consumer engagement is declining due to unredeemed points.
How does Rewards.com bring value to the ecosystem of cryptocurrency?
one of the biggest problem we find in the cryptocurrency community is finding value in projects. At Rewards.com we innovated a token that inherits a fungible value to give to the community by a number of ways;
• Shopping on Rewards.com customers can earn tokens on everyday purchases like groceries or clothes from their favorite store.
• Enabling customers to have control over their own experience and engagement with brands through agile delivery.
• RWRD buybacks - Rewards.com will buyback tokens from an exchange to distribute to earners. For every 100,000 shoppers rewards.com will buyback approximately $5,000,000 Worth of RWRD tokens putting pressure on the market value.
• Creating liquidity through redeeming tokens used to get discounts on many of our merchant partners.
• RWRD tokens are fungible with fiat currency and cryptocurrency. Consumers will be able to trade RWRD for other cryptocurrencies, as well as purchase RWRD tokens directly using fiat currency or other cryptocurrencies.
• Shoppers gain opportunity to earn and redeem RWRD token with no change to either the merchants’ or customers’ user experience for a seamless integration.
• Single crypto wallet managing multiple membership programs. No more plastic cards or multiple reward programs.
• Transparency between customer and merchant reducing loss of points, fraud abuse, and any other type of manipulation of the transactions.
• Tokenizing loyalty points makes RWRD tokens traceable creating a virtually fraud proof program.
• No personal data is released to merchants for user protection and security.