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What is PayPointCoin?
Paypoint Coin is a universal loyalty program protocol that uses blockchain technology to track all transactions within the protocol, providing more rewards to loyal customers.
Introduction
PayPointCoin
What is PayPointCoin?
PayPointCoin is a universal loyalty program protocol that can revolutionize the way that merchants track and distribute rewards points, and coupons so that more perks and benefits will be provided to loyal users. PayPointCoin uses blockchain features such as smart contracts, wallets, and tokens to track all the transactions within the protocol. PayPointCoin will address some of the challenges that current loyalty programs face due to inefficient data management, and lack of data privacy and ownership.
PayPointCoin
About PayPointCoin
PayPointCoin allows transaction ledgers to be shared across a network of participants. When a new transaction occurs (e.g. loyalty points are issued, redeemed or exchanged) a unique PayPointCoin is created and assigned to that transaction. PayPointCoins are grouped into blocks and distributed throughout the network, updating all ledgers at once.
PayPointCoin
PayPointCoin Wallet
For consumers juggling different loyalty programs, blockchain provides instant redemption and can be exchanged for multiple loyalty points currencies on a single platform. With only one "wallet" for points, consumers do not have to look for options, restrictions and usage rules for each program
Issues with Current Loyalty Programs
Issues with technology and integration
A major pain point for brands arises when loyalty programs cannot be integrated with existing ePOS systems or CRMs. Disconnected systems or inconsistencies across loyalty programs will ultimately result in disjointed and inferior customer experiences. Because customer data is fragmented and incomplete, merchants understand very little about their customers.
Too many loyalties programs and Apps
According to a study by Simform, the average person has 40 apps installed on their phone and spends about 89% of their time between 18 apps. People flock to 29 different loyalty programs and in most cases these points and coupons from loyalty programs expire without realizing they are holding them.
Data privacy and ownership
In most cases, consumers have no control over their data, but businesses use and monetize this information. Creating these loyalty programs increases cybersecurity risks and can expose companies to loss of revenue. significant fines and/or remediation costs; negative impact on stock prices; Lost reputation, customer trust and brand value.
Programs
How would crypto improve loyalty programs?