Case Studies | Payment & Clearing
Real-time Payment & Clearing for Alternative Currencies
A mall implemented a tiered reward program to attract and retain customers both at the mall level and to strengthen relationships with specific tenants / retailers. The different tiers of members were distinguished through point earning points rates and in-store benefits at participating shops. The process of earning and redemption for the members was performed via centralized terminals and a mobile application. For redemptions, vouchers were issued at the mall’s concierge. The operations of earning, redemption, claims and accounting within each retailers itself was semi-manual. The program appeared to result in rather low participation rate as well as engagement from retailers as well as customers. Furthermore constant irregularities in the claims of members complicated the communication with retailers even further. The desire was automating the earning, redemption as well as accounting / reconciliation process to refocus the existing marketing team from payment processing / monitoring to pro-active marketing campaigns management.