The global loyalty provider will enable clients' customers to turn their points into shares of stock.
NEW YORK, March 16, 2023 /PRNewswire/ -- 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 designed to help customers build wealth and deepen their relationship with brand partners.
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 3 months' worth of increased spending with the brand.
For Loylogic, the partnership with Bits of Stock continues the loyalty program specialist's 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 and highlighting consumer demand for redemption alternatives.
"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."
Swiss-based Loylogic Holdings is a global innovator in points commerce. Founded in 2005 and headquartered in Zurich, Loylogic operates across the globe as the trusted partner of the most visionary loyalty programs. For additional information, visit www.loylogic.com
About Bits of Stock
Bits of Stock enables financial institutions and brands to reward their customers in fractional shares of stock, crypto and more. Their embeddable APIs, brokerage services & merchant funded offers allow for fully customizable solutions.
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