New mobile applications continue to enter the payments marketplace servicing a wide variety of needs for merchants and consumers alike. With dozens of entries flooding the space each month, it’s our goal with, what has now become our ‘What Is’ series, to provide brief overviews of many of the new apps available.
There is plenty of research validating the benefits of customer loyalty programs. In fact, studies have shown that a successful rewards program can increase consumer loyalty, frequency, and average spend up to 17 percent or more. But, we all know that for customers to be engaged, they much recognize the value and it has to be easy.
Built on the principals of delivering an easy to use mobile application that increases sales by rewarding loyalty, vPromos removes the confusion and hassle for the consumer, offers easy enrollment and reward redemption, eliminates the need for paper and plastic cards and links rewards directly to the consumers’ credit or debit cards.
Merchants, through the company’s vPunch program, take advantage of an easy to use card-linked mobile loyalty program that also provides couponing capability. Integrated with a point-of-sale (POS), vPunch is easy to activate, all without the cost of printing paper punch cards or plastic key tags. And most importantly, merchants can now deliver an easy to use solution for their customer base.
Loyalty is critical in today’s retail environment, especially for small and mid-sized merchants looking to capitalize on their existing business to drive incremental sales and grow revenues. And, mobile applications like vPromos and others make it easier for both the merchant and the customer – a winning combination.