Valuedynamx rolls out new Pay with Points solution for enterprises
By Gloria Methri
Valuedynamx has announced its new “Pay with Points” solution that enables enterprises with points-based loyalty programs (such as airlines, banks, or credit card issuers) to offer robust reward options via its global network of merchant partners.
The Pay with Points program offers loyalty program participants more choices to redeem their points for aspirational or everyday purchases and for smaller-dollar options.
Loyalty program members can now redeem their points for currency (e.g., eGift cards) from hundreds of popular merchant and restaurant brands even different from those for which they have earned points. It also drives more frequent loyalty program participation and brand engagement along the way. The fully digital program delivers reward currency in real time for frictionless redemption and spending experiences in-store or online.
“Our new Pay with Points solution is a more robust redemption option for the loyalty industry and delivers optimal value for consumers, our clients, and our partners. Research continues to show that shoppers are actively seeking out deals—particularly loyalty points offer—to help offset inflation and other economic challenges, so this solution could not be more timely,” said Kelli Hobbs, VP, Head of US Business Development at Valuedynamx.
“People value flexibility and choice in their rewards and appreciate being able to use their rewards the way they want. Pay with Points optimizes loyalty program participation for consumers, and will help businesses capture and captivate their target audiences as brand loyalty wanes.”
Pay with Points enables loyalty program members to select their own rewards based on their personal preferences. The exchange and redemption process is quick and simple, and it includes lower redemption thresholds so members have more opportunities to earn and spend.
Additionally, Pay with Points eliminates friction for reward program managers looking to drive engagement and program ROI within well-established or emerging programs that reach a broad customer base. The range of reward options fits a wide breadth of member preferences, and members can access their balance regularly from just about anywhere—cultivating relationships and reducing the risk of participation dormancy.
The frequent engagement opportunities help drive brand affinity and customer lifetime value, broadening brand reach, driving incremental spending, and opening up cross- and up-sell engagement opportunities.
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