Tired of loyalty cards? Here’s Elipay loyalty on blockchain
Loyalty programs are one of the most frequent strategies used by stores and service providers to get customers to return. They are offered by most stores, which makes them very frequent, but also impractical at the same time. Have you ever lost your loyalty card or forgotten it at home when you finally visited a store again? So disappointing! Wouldn’t it be more customer-friendly to combine all the loyalty programs into one? Blockchain can make this happen. The Eligma company wishes to contribute to smart commerce development in this field; it created Elipay, a solution for paying with crypto at online and offline stores with the mobile phone.
Advantages of loyalty on blockchain
- universal loyalty programs: blockchain enables reward redemption from many providers, which means that rewards, i.e. tokens earned when shopping at one store or service provider, can be spent at a great number and variety of other stores; Elipay is now accepted at more than 200 locations, rewarding users with ELI tokens for every purchase they make. Currently, the tokens can be spent at different food and drink venues accepting Elipay, but gradually, all other store categories will be added;
- tokens do not expire: unlike traditional loyalty rewards like points, tokens do not expire and their value can even grow in time; Eligma has aimed to base the utility of its ELI token around ELI’s daily use in mainstream commerce, and this is becoming a reality with the growing popularity of the Elipay app;
- one-time data provision: one of the most annoying aspects of applying for loyalty programs is having to provide one’s personal data at each store. In the case of blockchain-based loyalty programs, the user only enters their personal data once rather than at each store they wish to buy at; the nationwide use of Elipay has contributed to Slovenia becoming one of the most crypto-friendly countries in the world due to its ease of use. In this, one-time data provision plays an important part of the customer experience;
- security: due to its immutability and traceability, blockchain prevents the double spending, fraud, abuse or transaction manipulation that can occur with traditional loyalty programs. Another security benefit of Elipay for merchants is that, unlike with credit cards, transactions can not be made without sufficient account balance;
- integration of non-crypto means of payment: Elipay will soon integrate credit cards into its mobile app. This means that fiat users, too, will be able to pay with their mobiles through the Elipay app and enjoy the advantages of its universal blockchain loyalty program. This will contribute to more people getting to know the practicalities of crypto and blockchain technology in general.
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