More than 3.32 billion people are part of a loyalty program. However, most of these loyalties points are soloed locked up, and unused. Additionally, most of these programs have different rules that keep on changing from time to time.
Most members of these programs find it difficult to redeem their tokens and they do not think they are worth their time. The soloed systems mean the points you accumulate on any program cannot be inter-operated between programs.
These challenges result to customers who are not engaged and are dissatisfied with the services offered by the loyalty programs. 33% of the loyalty program rewards are unclaimed which amount to $16 billion. The issuers also suffer from greater financial liabilities and low profits.
The Remloyalty platform seeks to change all this. The platform hopes to make loyalty points free to exchange as cryptocurrencies by use of blockchain technology.
Rem Loyalty Advantages
The advantages of the platform to the owner of the royalty points include:
The use of blockchain technology will ensure every transaction is secured on the blockchain. This will also ensure contactless pay functionality and even transactions done via mobile phones will be secure.
Instant Reward Redemption
The mobile app will allow users to instantly claim their rewards and cash back redemptions across various programs.
Manage Multiple Memberships
The platform will allow users to freely trade their loyalty points for other assets available within the ecosystem.
Issuers of loyalty points who choose to use this platform will benefit by:
- Access to a platform that will assist them to manage loyalty point’s liabilities with ease
- The platform will improve redemption rates, which will result in higher customer engagement
- The issuers will be able to buyback, exchange or unload points through the REM marketplace
Rem Loyalty REM Token & ICO Details
This interoperable loyalty reward token will be used on the REM market for rewards and for cash back redemption across the different loyalty programs at flexible rates. The users of the REM market will be able to earn points and they can use these points at different participating partner’s facilities. The market will have more than 29 Airlines and 80% of the global hotels where users can use their loyalty points.
The REM token has its own REM wallet that will be used by users to keep track of their points across all the loyalty programs. The wallet will allow for contactless pay. Users can also use the wallet to pay for items in facilities that accept tap and pay. The wallet also has the ability to hold more than 120 different coins and users can redeem from the REM market to any partnered reward points instantly.
Perimeters Of The ICO
The REM Token Uses
The users will use the token across the ecosystem of loyalty reward partners. Tokens will also be used as a reward for those who participate with RentalMiles which is REMs anchor tenant.
Users can use the tokens to pay rent and rental property management (RPM) services provided by the REM (RentalMiles participants)
Users can redeem the tokens for cashback that is tradable with other cryptocurrency assets on the platform.