The one thing at Pay1 that makes us extremely proud of working here is that innovations and ideas are always welcomed. We love to experiment and the idea of trying something new is what makes working here exciting enough. With every new app updates, we bring in some interesting ideas that are generally untried in the unorganised retail ecosystem. Only after comprehensive market research do we launch these ideas to our platform users.
Last month we launched a very important feature in our app that increases user engagement and also creates an ecosystem of loyalty amongst our users. ‘TOKENS’ are loyalty points that increase with every transaction that a merchant does on the platform. So more the transaction that a user does through the Pay1 platform the more tokens they earn. This kind of loyalty based feature is extremely unique in the market that we operate in. In a B2C ecosystem, these kinds of strategies have been tried and tested extensively and in most of the business models, it works like a charm.
The challenge for us lies wherein the road we are taking lies unexplored and the metrics are widely based on the market research and the positive feedback that we have gotten from the same.
Rewarding the merchants for their loyalty
‘Reward points’ that the merchant earns on every transaction can be further redeemed by the retailer. A retailer can see his earned token on the bottom left corner by clicking on the tokens icon. The reward points can be redeemed for various offers that we currently offer such as…
- Cashbacks up to Rs 1000/-
- Discount on service activation kits.
- Booster packs that increase the commission of the merchant on every transaction.
The offers mentioned above have already increased quite a bit of engagement and has also improved our potential to cross-promote various services. The user engagement strategies that we are employing are just the tip of the iceberg, there are a lot of unexplored opportunities that we are scrutinising and in the near future, these opportunities act as a potential for developing better engagement solutions.