Democratizing the reward points: Freedom for consumers and profit for retailers – Spendwisor

April 20 00:33 2021

London – Spendwisor is the new #2021 Fintech Startup focused on Mobile Payment and Loyalty Programme solutions. They provide a 3-in-1 app with a Mobile Wallet, Mobile Point of Sale Solution, and Innovative Loyalty Programme. It enhances the shopping experience, makes the interactions between the retailers and customers more meaningful and effective.

Spendwisor Team – Khalid Easa NA Al-Kaabi, Rikhia Basu, Noufal KM,Safarudheen Farook, Tamer Mustafa, Carol Jarjour. – getty 2021

‘Freedom and money are what humans love. It is precisely what we give. The tech-savvy millennials and generation Z are a new segment of shoppers. They are constantly searching for deals, discounts, and cashback before making a purchase. Spendwisor is a Sherpa to these shoppers’, says Safarudheen Farook, the Co-founder and CEO of Spendwisor.

Spendwisor is an easy and user-friendly app for shopping and earning points and cashback from every shopping encounter. It gives the shoppers’ freedom to spend the points on any brand within the Spendwisor ecosystem.

‘We won the data war. Now, the data belong to the customer. He has the freedom to share data, freedom to earn money from the data and freedom to spend it anywhere. This has created a healthy relationship between the retailers and customers. More customers are saving more. More retail businesses are profitable. This is a democratic world. This is the vision of Spendwisor’, says Farook.

In the spirit of Qatar National Vision 2030 and the Sustainable Development Goals, the Government of Qatar is supporting innovative entrepreneurs. Spendwisor is incubated in the Digital Incubation Center that is supported by the Ministry of Transport and Communications. The company is a partner of the Qatar FinTech circle, which nurtures the budding fintech startups and is managed by the Qatar Financial Center. Spendwisor is headquartered in Delaware, the United States of America.

“Spendwisor app benefits retailers and shoppers. Retailers can use the app to accept mobile payments, create cashback campaigns and issue loyalty points”, says the Co-founder Khalid Easa NA Al-Kaabi. Spendwisor’s algorithm tailors the reward program according to a customer’s shopping habits. By combining payment and loyalty programs into a single platform, Spendwisor lets merchants use the payment data to target the right shoppers and reach them directly. It helps retailers save millions on marketing, which is otherwise wasted due to ineffective outreach and inaccurate data..

 

Globally, people hold unused loyalty points worth 360 billion dollars in their wallets. The Spendwisor app provides a seamless shopping experience for consumers. They can make a payment, earn loyalty points and spend the points on any preferred brand within the Spendwisor ecosystem. One of Spendwisor’s innovative marketing strategies is to create campaigns with cash incentives attached to purchases and measurable goals. Other strategies are reward programs that can be earned and redeemed anywhere, discount coupons, and more. These are intended to create a viral effect among shoppers.

Customer loyalty is critical to sustainability in the retail sector. Customers require engagement throughout their life cycle. Each customer expects a unique shopping experience that is also seamless and contactless. A shopping experience is more than a financial transaction. It involves an emotional journey before shopping, during shopping, and post-shopping. This interconnected experience is precisely what Spendwisor curates. Spendwisor is re-engineering the overall emotional experience during the shopping.

@licornegulf2021

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