Why are Pointspay and MarPay gaining traction in the payment industry?
By Puja Sharma
With the evolution of digital payment, Here are the upcoming trends that will dominate the eCommerce space in the future:
As people spend more time on their phones, they are looking for multifaceted applications, which can pay their bills, offer lending options, and keep a track of the invoices—basically, a Super app that would integrate all such services into one platform. Due to the ease of conducting business, super apps are gaining traction among customers today.
For a business that offers more than one product, such as an eCommerce business or a bank, the super app is well suited. Media platforms like Facebook, Instagram, or Whatsapp are in the race to become such super apps.
What is MarPay?
To maximize customers’ purchasing power, MarPay uses emerging technology to connect top online stores with loyalty program members. Customers can earn and spend points on every purchase they make through the retailer’s website with such technology systems. It can be used to free up shoppers’ points, allowing them to buy more and get discounts on future payments, earn points on their purchases, or even top up their points balance while they shop. In the long run, retailers are likely to benefit from this by gaining more profits by increasing average spending and customer loyalty.
Consumers can eliminate all of the traditional reservations they may have during their customer journey, and create a positive and enticing online shopping experience. With this system, customers have full control over how they spend earned points, and online retailers with a MarPay option will have a significant competitive advantage. The customer will feel as though they are gaining more from their payments if several retailers offer the same products, but only yours offers MarPay, which will encourage them to purchase from you since they feel as though there is more to gain – either through earning points or getting a discount on your website.
Through the use of marketing technology and payment solutions like these, merchants can connect with leading loyalty programs and their millions of affluent members, allowing them to spend their loyalty points and miles alongside cash for purchases at select online retailers – and earn even more when shopping with affiliated retailers.
By leveraging cutting-edge technology, older pain points in the customer journey can be eliminated, resulting in a seamless, simple, and smooth user experience that will keep customers coming back for more. Shoppers receive credit for their points instantly and have total control over how their points are spent at checkout.
In this way, merchants can increase average order values, increase retention rates, and capture a greater share of wallets. Online merchants can increase basket value (ABV) by 30% when they offer Pointspay at check out. Added to this, MarPay’s versatile solution boosts point sales, enabling loyalty programs to gain a lucrative revenue stream. Providing low-cost redemption opportunities, it at the same time drives engagement with members by offering new and more exciting ways to earn and spend points.
Future of Pointspay
As an e-payment platform, Pointspay offers MarPay technology to its members and online retailers who use it. Featuring an international network of online merchants, Pointspay connects its members’ points directly to their accounts. Members of Pointspay, and online retailers who use it, have access to the technology.
Customers can make payments with their favorite online retailers and pay with the points they’ve earned, or pay with cash and collect points later. Furthermore, it enables its retailers to capture a larger share of wallets, boost average order value, and increase customer retention rates while gaining access to a brand-new customer base. When retailers offer Pointspay as a payment method at checkout, they can increase their average basket value by 30%.
Introducing digital payments method into your business model is a win-win for both online retailers and customers – by being ahead of the trends in 2022 and offering solutions to your customers’ issues, you will be able to distinguish yourself from your competitors.
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