- Koin Rewards, FinTech behind a Blockchain-based ethical loyalty programme, teams up with the account aggregation service TrueLayer.
- This partnership will lead them to craft a simplified redemption process for consumers, members of the Koin Rewards programme, using an instant Open Banking-based system.
- When connecting their bank and loyalty accounts, they automatically earn points on each of their purchases from partner merchants. A network of merchants and members in being included to the redemption programme.
- Koin Rewards also bets a Payment Initiation API by TrueLayer, enabling their members to carry out transactions from a bank account to their Koin account.
- Ethical approach:
- This community commits to promoting ethical, sustainable behaviours
- In addition to a rewards system, Koin Rewards lets users track the carbon footprint induced by their consumption.
- Loyalty points may be used to make donations to one of their partners, meeting sustainability goals as laid out by the UN.
- Customers may also build an ethical investment portfolio.
- Automating rewards' redemption. Rewards are automatically collected when making purchases. Users do not have to have their card or mobile device scanned. This ease-of-use may contribute to boosting loyalty programmes in general.
- 2.0 Card-Linked Offers. The commissioning model selected by Koin and TrueLayer is based on a CLO principle, as rewards are sent automatically relying on transaction tracking.
- Koin Rewards also bets on a Blockchain to implement their programme, even creating a dedicated digital called Koin.
- Praising ethical values. Besides customer loyalty, Koin Rewards builds on ethical values. Their users can spend their points donating to charity, increased rewards when donating to environmentally friendly causes, etc.
- Koin Rewards also kicked off a crowdfunding campaign on Seedrs.
- And, Koin Rewards relies on another partner, Fidel, to expand their merchant community, aiming for ethical values’ supporters.