Pointspay has announced the launch of a new MarPay™ concept that combines three principles of business; marketing, payments and loyalty. Through this combination, Pointspay gives companies the ability to grow profits in a unique and targeted way by joining loyalty programmes with a global network of advertisers and payment providers.
Pointspay addresses the common issues advertisers are regularly dealing with and ensures they can get the most from their customer interactions. MarPay™ allows advertisers to market directly to consumers with loyalty balances which can help boost average order value and conversion as customers feel more inclined to spend increased amounts when combining their available cash with the stored value of their loyalty points.
Through Pointspay’s unique technology, loyalty partners and advertisers can offer customers the opportunity to pay in a variety of manners, including a split of loyalty points and cash, leveraging Pointpay’s two global points-plus-cash patents.
The MarPay™ platform Pointspay aims to tackle and evolve the current challenges that consumers face when it comes to payments and loyalty such as intuitive use of points and greater opportunities to earn and spend points instantly. By providing these varied opportunities to spend and earn, businesses that utilise Pointspay see their customers' average basket value increase by upwards of 30%.
In a recent activation, a partner working with Pointspay saw a 232% increase in e-commerce revenue, a 194% rise in redeemed loyalty points and a 277% increase in cash spent from members of the loyalty scheme between April and May when using the new MarPay™ technology.
This activation is a clear example of the potential that MarPay™ platforms like Pointspay can offer loyalty partners and advertisers going forward and additionally how consumers engage with their loyalty schemes with greater ease and efficiency.
Reacting to the launch of the MarPay™ solution, Dominic Hofer, Founder and CEO of Loylogic Group, commented: “MarPay™ is the culmination of years of dedication and innovation from the teams at Pointspay. Our commitment to evolving the loyalty process has led us to the creation of this industry-leading product and we’ve seen incredibly positive results to date since we have rolled it out to our clients and their customers.”
Lansy Joseph, Chief Product Officer at Pointspay added: “MarPay™ takes advantage of the surge in loyalty and payment technology over the past few years. Through these advancements, we’ve been able to create a product that provides customers with what they want from a loyalty scheme, such as greater options, as well as giving clients a more insightful and valuable impact for their marketing capabilities.
“Our recent work is just the beginning of what we hope will become a staple product of the loyalty and payment sector for years to come.”
More information about the Pointspay platform and MarPay™ can be found on the Pointspay website.