How many customer loyalty programs are you a part of right now? Virtually everything we as customers use has some sort of reward program in effect. Companies put them in place to give rewards and provide bonuses for consuming their products or services. But how many of these feel like an insignificant reward and not something worth your time?
Think about what brands are you the most loyal to? Which products and services do you trust the most in outside of the crypto scene and inside it? Take for example something as ubiquitous as points and rewards systems for banks. Banks have some of the best and more developed loyalty programs now. This is simply because they have had more time to adapt to what works for the people they serve and what works best for increasing the number of customers. Shops and other companies also have programs, but oftentimes they do not offer anything more than in-store credit. Banks, on the other hand, are the best because customers actually get some of their money back, in the form of cash back or points to spend.
In a relatively immature cryptocurrency industry there are a lot of companies that already offer something to give back and reward us for our loyalty. But most corporations in this space don’t put a lot of emphasis on building long-term relationship with their clients. This is because of the fact that competition does not seem so fierce and blockchain services just intend us to use them simply because they are the only option. So the outcome is very poorly built loyalty programs that don’t really offer us something new or that we can’t get somewhere else.
But as years and months go by us, as consumers, are starting to see blockchain companies finally being challenged by competitors. New players in the crypto scene are changing the way business is conducted for good.
Moreover, companies that are not connected with crypto are now exploring using blockchain and cryptocurrencies to build a loyalty system that combines both the real world with the world of digital coins. Such is the case of a bottled coffee company in Switzerland. They are rewarding consumers who buy their coffee with a redeemable code at the bottom of each bottle. This code will allow them to earn digital tokens that can later be exchanged for other coins on the blockchain or, even, for cash.Another tasty example of this is fast food chain Burger King launching its own cryptocurrency in Russia called ‘WhopperCoin’ with the purpose of rewarding customers for each purchase of a Whopper sandwich.
The combination of cryptocurrencies, blockchain and loyalty programs is a right fit for companies that service cryptocurrency holders and for those that are outside of the industry but still want to reward consumers. The main appeal for these companies is that issuing digital tokens or rewards on blockchain cuts down costs and is more attractive, especially, for young consumers.
A Customer Loyalty program that everyone will want to use
Another blockchain venture has taken the example of banks and develops its own loyalty system, but based on decentralized technology and with support for online and offline purchases. The Asian-based blockchain venture called World Credit Diamond Coin (WCDC for short) is planning to change the way cryptocurrencies are used for payments of everyday purchases and reward customers.
WCDC is building a platform where users can manage their digital and fiat assets. They are promising to add the missing key for everyone to take advantage of the best of each world – the virtual and real worlds. The company is also wrapping up the use of its platform and its crypto and fiat payment card, called BR Card, with its own customer loyalty program: the WCDC Incentive. And much like traditional banking cards have, the WCDC customer loyalty will represent a bonus for every purchase completed with the card.
When making a payment anyone will be able to combine fiat with crypto via the WCDC platform. It will also make all necessary currency conversions on the spot. So there will be no need to exchange or convert cryptocurrencies to fiat in advance before using the card.
The WCDC Incentive will be paid as a reward for payment transactions both online and offline using the BR Card. The main benefit of receiving the WCDC Incentive is that it can be transferred to the user’s WCDC bank account by cash deposit or exchanged to the WCDC cryptocurrency.
One of the greatest appeals is that payment fees can be completely covered by the reward received from using the payment card. Which essentially means recurrent loyal users will get the service, in many cases, free of charge.
There are no additional steps required for BR Card holders to earn points. WCDC will automatically accumulate their incentive making it seamless for users.
Just like first loyalty programs created a shift in the way business was being done back in the day, now we are facing the new generation of rewards based on crypto. The WCDC team stays at the forefront and offers not only an exceptional payment solution that fuses cryptocurrency and fiat, but also a loyalty program for the platform’s users. Pay with digital currency everywhere and get cash-backs for that. Isn’t it what we all dream of?
About the project
World Credit Diamond Coin or WCDC is designing a real-life solution for spending cryptocurrencies. It will feature support for online and offline payments in both crypto and fiat currencies. The WCDC interface will have users managing their digital assets in a way similar to online banking.
The cryptocurrency at the center of this project can be found very soon on Coinsuper, one of the TOP-20 exchanges according to CoinMarketCap volumes. With a market pair of WCDC/ETH it’s a new crypto you’ll definitely don’t want to miss. You can head on over to the exchange to purchase tokens there.
You can also join the WCDC community on their official Telegram chat and learn more about the company’s progress by checking their website. You may also keep up with all of the most important news and updates on Facebook and Twitter.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.