Loyalty survey finds millennials more keen for crypto than loyalty points
The sixth annual ‘For Love or Money’ study revealed that Millennial consumers are more interested in cryptocurrency than loyalty points. Commissioned by The Point of Loyalty, this year’s instalment of the report found that 36% of loyalty program members would rather be rewarded in cryptocurrency over traditional points systems. This sentiment was represented even stronger among Millennial consumers, with over half (55%) expressing their enthusiasm for blockchain technology to replace conventional reward systems. “With cryptocurency being a topic of intense conversation these days, I was keen to understand consumers’ and specifically loyalty program members’ attitude towards being rewarded in these digital currencies,” says CEO of The Point of Loyalty, Adam […]
Cryptocurrency is a new ‘coin of the realm’ for loyalty programs
Rene Konrad earns bonus miles from four airlines, plus loyalty points from six retailers and credit cards. But the one loyalty program he is most excited about now offers him something different: digital coins. Before he jumps on the train to Zurich most mornings, Konrad grabs a bottle of Caffe Lattesso. The 41-year-old can get about 12 Lattessocoins by entering a code from the bottle into a website. In a few months, the accumulated coins – which only became available in April – should become tradeable for other digital tokens, as well as cash. “I don’t know how many airline miles I lost because I didn’t use them fast enough,” […]
Samsung Pay now available for CommBank customers
From today Commonwealth Bank Mastercard customers will have access to Samsung Pay. The contactless payment platform enables CBA customers to make payments via compatible Samsung phones and wearables. CommBank already offers Android Pay but not Apple Pay. Research released this week suggested smartphones users’ loyalty to their devices was influencing their choice of banks. In a company statement, Samsung said the new partnership with CBA demonstrates their commitment “to making mobile wallets an everyday reality for millions of Australians.” To use the app CBA customers must load their Mastercard debit and credit card information to the Samsung Pay digital wallet. However the app creates a “tokenised card number” for users […]
LoyaltyX launch world-first Blockchain loyalty project at UNSW
LoyaltyX and University of NSW (UNSW) have partnered to launch a world-first blockchain loyalty research project, giving students an opportunity to earn Ether cryptocurrency at the checkout of participating merchants simply by scanning a barcode in their digital wallet. UNSW students and staff can earn $5 of Ether for every ten transactions they make across eleven campus retailers, including Boost Juice and IGA, as part of the Unify Rewards program that goes live on trial today. Ether is a cryptocurrency supported by the Ethereum network. The revolutionary program will give members access to the dynamic frontier of cryptocurrency with no risk or investment required. LoyaltyX Chief Design […]
Westpac customers can now use Samsung Pay
Westpac has today announced their debit and credit card holders can now use Samsung Pay – a first move from the big bank outside their own app and payment technology. While they may have been fighting to collectively bargain with Apple for access to Apple Pay it seems Westpac were happy to jump on board Samsung’s digital wallet offering access to their customers and becoming the first major bank to support Samsung Pay. Alongside Citibank and AMEX, Westpac customers can add their debit and credit cards to access tap and go payments from their phone or Samsung smart watch. Richard Fink, Vice President, Mobile Division at Samsung Australia said: “We […]
Loyalty Programs represented in Australian FinTech
Loyalty While loyalty may sit at the edges of the FinTech industry, its importance is fast being realised. As the technology to accurately track every dollar we spend improves, we are becoming better equipped to cash in on the loyalty offered by the companies we buy from. Add digital wallets to track purchases and designated shopping malls for earning cash-back and we are now equipped to make these loyalty programs work for us. It is important however that we don’t ‘kid’ ourselves – these programs are mutually beneficial. Whether it’s to help Woolworths recognise they need to offer cashmere if they want you to buy their clothes, or for Kmart […]
Loyalty
Australian FinTech Awards 2024 – all the Winners!
Held in Partnership with Tier 1 law firm, Ashurst, and media partner Australian FinTech, the 9th Annual FinTech Awards recognised and celebrated fintech success.
