Loylogic, the global leader in loyalty and incentivized engagement solutions has partnered with Bits of Stock, the fintech that powers stock rewards programs, to introduce a new and innovative reward offering that allows loyalty program members to turn their points into shares of stocks.
The partnership has been designed to help customers build wealth and deepen their relationship with brand partners – and is part of the global loyalty program specialist’s drive to widen customer choice and power engagement.
Available across verticals, the Stock Rewards program will offer an innovative way for businesses to differentiate their rewards program from competitors and create a stickier user experience.
Unlike transactional rewards offerings, Stock Rewards can increase in value over time and are notable for driving lasting engagement beyond the point of redemption. A recent study from NYU Stern found that a single dollar issued in Stock Rewards delivered over $16 in consumer spending back to the brand and that every Stock Reward issued led to as much as three months’ worth of increased spending with the brand.
For Loylogic, the partnership with Bits of Stock is the latest step in its ongoing mission to deliver impactful loyalty programs. “Allowing our millions of end users to invest their points is one more way we’re changing the industry for good,” Piyush Khandelwal, COO of Loylogic said. “We believe rewards can be a powerful engine to get more people on the path to building wealth, and Bits of Stock is the perfect partner to help us do that.”
Globally, at least $48 trillion in loyalty points sit unredeemed, creating massive liabilities for businesses, highlighting consumer demand for redemption alternatives in the process.
“Loylogic has been a worldwide leader in tackling the problem of points liabilities,” Arash Asady, CEO of Bits of Stock said. “Once again they’re innovating the industry by offering a new reward type that delivers real value for both their clients and consumers.”