This new “fully digital offering allows enterprises with points- or miles-earning loyalty programs to offer participants options to redeem points with hundreds of other top brands from around the world —offering flexibility and unmatched choice to help drive brand loyalty,” according to a company announcement.
“Our new Pay with Points solution is a more robust redemption option for the loyalty industry, and delivers optimal value for consumers, our clients, and our partners. Research continues to show that shoppers are actively seeking out deals—particularly loyalty points offers—to help offset inflation and other economic challenges, so this solution could not be more timely,” says Kelli Hobbs, Vice President of US Business Development at Valuedynamx. “People value flexibility and choice in their rewards and appreciate being able to use their rewards the way they want. Pay with Points optimizes loyalty program participation for consumers and will help businesses capture and captivate their target audiences as brand loyalty wanes.”
UK-based Valuedynamx, which describes itself as “a leading global provider of curated, data-driven omnichannel purchase rewards,” says the Pay with Points solution “enables enterprises with points- or miles-based loyalty programs (such as airlines, banks or credit card issuers) to offer more robust reward options via Valuedynamx’s massive, ever-growing global network of merchant partners. The Pay with Points program offers loyalty program participants more choice to redeem their points for aspirational or everyday purchases from brands they love, and opportunities to use their points more often for smaller-dollar options.”
Pay with Points, the company says, “empowers loyalty program members to redeem their points for currency (e.g., eGift cards) from hundreds of carefully curated, popular merchant and restaurant brands (e.g., fashion, technology, food and beverage, travel, and experiences)—even if those brands are not the ones through which they have earned points. It also drives more frequent loyalty program participation and brand engagement along the way. The fully digital program delivers reward currency in real time for frictionless redemption and spending experiences in-store or online.”
The company believes that “Pay with Points solves for common pain points consumers often associate with reward programs because it enables loyalty program members to select their own rewards based on their personal preferences. The exchange and redemption process is quick and simple, and it includes lower redemption thresholds so members have more opportunities to earn and spend. For instance, it may take a long time for a consumer to earn enough points through an airline loyalty program for a free flight. But having the option to redeem those airline loyalty points for lower-cost options from other brands provides greater choice and delights customers,” the company states.
Valuedynamx says it is “a leading global provider of curated, data-driven omnichannel purchase rewards. Part of Collinson, a group acknowledged for delivering the world's most valued travel ecosystem, Valuedynamx combines its expertise across payments, card-linking, affiliate marketing, earning and redemption into a single entity that delivers relevant and engaging solutions for its clients.”
RRN: Your Partner in Success in Incentives, Rewards, and RecognitionPublished by the Enterprise Engagement Alliance at TheEEA.org
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Outreach to Enhance Industry Awareness
The EEA is dedicated to helping address the fact that the IRR business remains a little-known industry.
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Promoting Effective Program Design
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RRN: Your Partner in Success in Incentives, Rewards, and Recognition
Contact Bruce Bolger at 914-591-7600, ext. 230 or email Bolger@TheEEA.org when you want to get to know or get known in this growing $1.76 billion marketplace.