Blockchain-based loyalty rewards platform bares ‘Pensionado’ card

By Ram Christian Superable Agustin

A local tech firm has launched a new digital customer loyalty card called Pensionado that allows customers to accumulate and combine their points from different local merchants.

LoyalCoin CEO Patrick Palacios

The Pensionado card is based on a blockchain-powered single token system dubbed LoyalCoin, which was launched in 2017 as a Filipino cryptocurrency. It was developed by digital customer loyalty solutions provider Appsolutely.

According to LoyalCoin CEO Patrick Palacios, the Pensionado card is available to the public for P300, although it contains almost P5,000 “worth of deals”. This includes a year’s access to unlimited Buy One Take One at Gong Cha, a free burger from McDonald’s, and a P100 worth of LoyalCoin.

“What we’re doing is we’re solving the problem of the loyalty card. There are too many loyalty cards that we can only use in select merchants and the points expire,” explained Palacios. “What if you could use your coins anytime, anywhere, and have the best deals in the world?”

Through the unified rewards program, for instance, points from milk tea vendor Gongcha can be used to purchase air tickets from LoyalCoin airline merchants. Alternatively, trips to the US from their partner airlines like Philippine Airlines will be 20% lower in rates if LoyalCoin is used.

“What we’ve noticed, since we’ve been doing loyalty programs for the past six years, the Philippines is more into loyalty cards instead of apps. This is why we’re launching this Pensionado card, wherein you can get the best deals and rewards and at the same time earn points in the LoyalCoin cryptocurrency,” said Palacios.

Currently, LoyalCoin has 83 merchants and about 260 locations. The company’s goal this year is to reach one million customers who can use the points that never expire. And since it is a virtual currency, LoyalCoin can be exchanged for other crypto-currencies like Bitcoin or even cold cash, the company said.

“Our goal has always been to take our local roots to a global stage. We are continuously implementing customer-driven, and forward-looking to share the benefits and our vision of a blockchain-powered loyalty economy worldwide,” shared Palacios.

Users can currently redeem rewards from the Get Go Rewards of Cebu Pacific, Mabuhay Miles of PAL, Big Loyalty of Air Asia, McDonald’s, Grab, Lazada, SM Cinema, 7-Eleven, and Petron.

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