RewardLoop loyalty programs via QR and NFC POS adapter
Posted by Seth Planck
July 19th, 2011 at 12:00 AM Filed Under Latest News, Press Release, Videos
RewardLoop mobile loyalty programs via QR and NFC POS adapter
Today RewardLoop announced a mobile loyalty programs with a twist, it works off an adapter that sits between your POS terminal and receipt printer, so in essence creates an NFC POS adapter for QR code and NFC loyalty programs.
RewardLoop has released an NFC POS adapter for loyalty programs. The novel approach allows any business to set up a loyalty program with very little investment and low monthly fees. Merchants and retailers simply add loyalty products to their POS system and in turn add those products to each sale. When the receipt is printed, the adapter intercepts the printing data and adds a QR code at the bottom of the printed receipt. The QR code is a one time use, secure code that a customer can scan. The customer is then directed to RewardLoop’s cloud based system. After setting up an account, all a customer need do is scan QR codes from their receipts every time they make a purchase to collect points. The cloud based portion of RewardLoop also manages loyalty programs redemption securely and allows service and retail based businesses to concentrate on their business and not the management of a loyalty programs. The adapter also has the ability to connect to an NFC reader which will go live when NFC has more of a substantial hold on the market, RewardLoop said. RewardLoop’s turnkey mobile loyalty programs are ideal for independent and chain merchants alike, including coffee shops, restaurants, retailers, local service providers, and other high purchase volume / frequency categories.
Universal compatibility with all POS terminals that have a printer ports RewardLoop creates a QR code and NFC loyalty program
Because the NFC POS adapter sits between the POS terminal and the receipt printer, the technology will work with nearly all systems. One of the problems associated with accepting NFC payments or loyalty programs has been the need for an upgrade to newer POS terminal, or the need for retailers to purchase completely new systems that accept NFC contactless transactions and interactions. RewardLoop’s system requires no such initial investment. “The universal compatibility of RewardLoop Connect across a deeply fragmented global POS ecosystem is nothing short of groundbreaking,” says RewardLoop CTO, Jeff LaPorte. “This innovation provides unmatched reach across the merchant landscape for rapid scalability of our merchant network by RewardLoop and its strategic partners.”
“We view QR codes as a strategic, transitional technology between physical cards and NFC,” says RewardLoop CEO, Nigel Malkin, “Those who leverage QR code-based technologies to mass-transition their users onto mobile phones today, will have a strategic advantage in winning the NFC races of tomorrow.”
How much does RewardLoop loyalty programs cost?
The system and subsequent monthly plan won’t break the bank.
| Security Deposit | $100 (USD) |
| Monthly Rental | $19.95/mo*(USD) |
RewardLoop Loyalty Program
| 0-50 Loyalty Members | FREE |
| 51+ Loyalty Members | 10¢ / stamp |
RewardLoop is offering merchants who order their RewardLoop Connect units on, or before July 31, 2011 free rental on the RewardLoop Connect device for 6 months. Merchants can try out the benefits of RewardLoop for free for up to 50 customers before transitioning to RewardLoop’s performance-based pricing model. They want to get you hooked, because how do you tell those 20% of faithful customers that after the trial period, that you will no longer reward them for their loyalty or that they have to sign up for yet another account? Yeah, the simple fact is you don’t.
The loyalty programs business is becoming very full very quickly with Google Wallet adding the ability after the acquisition of Punchd, Zoosh working on its own version, Isis, PayPal and a host of other startups all aiming at the opportunity that runs parallel with mobile payments. However, they are already closing accounts.
“For a mobile loyalty program to deliver value and be successful in our business, it needs to be transactional and secure. RewardLoop is the only solution we’ve seen that meets these criteria,” said Tim Kraus, Interactive Marketing Manager at Quiznos USA.
The service is affordable and insists that it will keep the 20% of merchants’ customers who are consistent, loyal. It also projects its loyalty program encourages more sales from the 80% of not so regular customers. Its advantage appears to be in the fact that it has a technology that can handle today’s customer cell phones and can upgrade to tomorrow’s mobile phone and transactional technology. If RewardLoop is to compete, it needs to gain market share before NFC takes off and larger organizations use large marketing budgets to ensure their voices are heard above startups.
RewardLoop Brings Secure, Transaction-Based Restaurant & Retail Loyalty Programs to Mobile Phones Via QR Codes and NFC
Loyalty, Payments, and Social Media Industries to loyalty programs Benefit from loyalty programs Groundbreaking Universal Point of Sale (POS) Adapter
Press Release Source: RewardLoop On Monday July 18, 2011, 10:15 am EDT
VANCOUVER, British Columbia–(BUSINESS WIRE)– RewardLoop, the company enabling secure, card-less customer loyalty transactions via mobile phones, today announced a universal Point of Sale (POS) adaptor that enables restaurants and retailers of any size to simply and cost-efficiently deploy a secure, transaction-based mobile loyalty program. The patent-pending RewardLoop Connect adaptor connects loyalty programs easily to merchants’ loyalty programs existing Point of Sale (POS) systems, and can be set up in minutes.
RewardLoop’s turnkey mobile loyalty programs are ideal for independent and chain loyalty programs merchants alike, including coffee shops, restaurants, retailers, local service providers, and other high purchase volume / frequency categories.
Transactional Loyalty
RewardLoop differentiates itself from an ever-growing number of mobile ‘check-in’ -based loyalty programs by offering a first-of-its-kind transaction-based mobile loyalty platform that offers a level of loyalty programs security comparable to traditional card-based programs.
“For a mobile loyalty program to deliver value and be successful in our business, it needs to be transactional and secure. RewardLoop is the only loyalty programs solution we’ve seen that meets these criteria,” said Tim Kraus, Interactive Marketing Manager at Quiznos USA.
RewardLoop Mobile Loyalty Programs
Through its RewardLoop Connect device, RewardLoop prints transaction-identifying QR codes on merchant bills and receipts. Consumers scan these secure, one-time-use QR codes with their mobile phones to earn and redeem merchant-defined loyalty rewards through RewardLoop’s cloud hosted platform. RewardLoop’s mobile-rendered loyalty programs stamp cards show users their earning progress towards each reward (Video demo: http://www.rewardloop.com/rewardloop-connect ).
How the RewardLoop Connect Device Works
RewardLoop’s loyalty programs groundbreaking innovation, RewardLoop Connect, is a device that sits between the merchant’s POS system and receipt printer. It intercepts the print data stream, adds a RewardLoop QR code, and then passes the print command to the printer. The printer prints the receipt exactly as delivered from the POS system, but loyalty programs inserts an extra footer that includes the merchant’s secure, one-time-use, RewardLoop QR codes. The device also prints QR codes for secure reward validation and redemption. When these codes are scanned by a customer the customer is delivered to a hosted, merchant-branded mobile application optimized for the user’s loyalty programs mobile phone.
Universal POS Compatibility
RewardLoop Connect is universally compatible with the world’s loyalty programs leading POS platforms. “The universal compatibility of RewardLoop Connect across a deeply fragmented global POS ecosystem is nothing short of groundbreaking,” says RewardLoop CTO, Jeff LaPorte. “This innovation provides unmatched reach across the merchant landscape for rapid scalability of our merchant network by RewardLoop and its strategic partners.” RewardLoop is ‘plug & play’ compatible with any POS system that prints to Epson or Epson-compatible receipt printers, which comprise an estimated 85% of the loyalty programs worldwide receipt printer market.
RewardLoop Connect – NFC
In addition to QR code-based consumer transactions, RewardLoop Connect has been loyalty programs designed with ports for Near Field Communications (NFC) scanners that will be enabled when market penetration of NFC-enabled devices reaches a tipping point. “We view QR codes as a strategic, transitional technology between physical cards and NFC,” says RewardLoop CEO, Nigel Malkin, “Those who leverage QR code-based technologies to mass-transition their users onto mobile phones today, will have a strategic advantage in winning the NFC races of tomorrow.”
Partnerships with Point of Sale (POS) Industry
In contrast to new mobile merchant offerings billing loyalty programs themselves as replacements for legacy POS systems, RewardLoop Connect has been designed to secure the role of POS platforms in the payments ecosystem. RewardLoop Connect enhances the value and relevance of existing POS infrastructure while helping POS platforms accelerate their evolution into mobile.
Forward-thinking POS platform vendors and service providers are readying to loyalty programs distribute the device. “The POS industry is embracing the RewardLoop Connect device and platform as a simple way to accelerate their evolution into mobile under a common set of standards,” says Malkin. For merchants whose POS vendors or service providers are slow in adopting the new standard, merchants can easilyself-deploy RewardLoop Connect in a matter of minutes.”
Pricing
RewardLoop Connect devices will be available exclusively on a rental basis for $19.95 per month. As a special loyalty prgrams introductory offer, merchants who order their RewardLoop Connect units on, or before July 31, 2011 will have their monthly RewardLoop Connect device rental fees waived for 6 months. Merchants can try out the benefits of RewardLoop for free for up to 50 customers before transitioning to RewardLoop’s performance-based pricing model.
Licensing
Beyond the company’s core focus on secure, transaction-based mobile loyalty programs, the RewardLoop Connect network, device and intellectual property (IP) have been designed to solve challenges faced by several parallel industries. These solutions and IP are available under license to market-leaders in these loyalty programs industries .
Recent Financing
RewardLoop is also pleased to announce it has recently closed a seed loyalty programs financing round led by Canadian angel investor Boris Wertz (W Media Ventures) with the participation of prominent executives from leading online and offline retailers.
About RewardLoop
RewardLoop provides card-less loyalty programs for the mobile era. The company’s patent-pending innovations enable a merchant of any size to simply and cost-efficiently identify their most profitable customers, and engage them in individualized, transaction-based customer loyalty relationships via their mobile devices. The company is loyalty programs acclaimed for its groundbreaking RewardLoop Connect invention, a plug & play, a POS-agnostic device that loyalty programs supports both QR code-based and NFC–based transactions, and is universally compatible with the world’s leading POS platforms. The real-time loyalty programs transaction- level aspects of the innovation combined with its secure mobile redemption capabilities and unprecedented cross-POS scalability have strategic implications that span several industries. More information about the company can be found at www.rewardloop.com.
Contact:
RewardLoop
Nigel Malkin, 604-783-4360
nigel.malkin@rewardloop.com
RewardLoop loyalty programs