Loyalty points sets to become cash donations for charity
Unused loyalty points and air miles can now be converted into a cash donation for charity, at a time when cryptocurrency and credit card regulations are shaking up traditional customer loyalty programs.
Imagine Corporation has joined with charity fundraising solution provider, everydayhero, to offer a new platform, points4purpose, which enables individuals, organisations, or community groups an option to convert their loyalty points into social good.
According to Imagine Corporation, 27 per cent of members of loyalty programs want to donate points to charities or local community initiatives of their choice, 58 per cent of all Australians believe brands need a loyalty program to keep them loyal, 28 per cent have switched brands on at least one occasion to get benefits from a loyalty program, and 65 per cent of members want to share their benefits with family, friends or charity.
The points4purpose platform enables individuals to access the billions of dollars in loyalty points and air miles sitting dormant, and convert them to a cash donation for a cause of their choice.
Backed by corporate partners including Expedia, Rebel Sport, Sony, Budget Car Rentals, General Pants and a growing list of well-known brands representing a wide range of industries and services, consumers and employees can now convert their unused and expiring rewards points to their chosen causes. The individual registers an account at points4purpose and every time they shop on the site, their points will be donated to their chosen charity. They also receive a tax-deductible receipt for the donation.
Points4purpose also enables not-for-profits to share their stories with a wider audience. Corporate partners can provide targeted and unique offers to charitable supporters on the site and, in turn, expose their important work on the ground to large databases of supporters through participating corporate partners.
“Were providing corporate partners with the opportunity to retain and grow their relationships by effectively enabling them to support the causes of their choice,” said managing director of Imagine Corporation, Ivan Schwartz.
Schwartz said many of the bank-supported rewards programs are struggling to maintain the benefits previously enjoyed by cardholders, following the RBA’s interchange fee regulations that came into effect on 1 July last year.
Similarly, CMO recently reported on a completed trial with LoyaltyX and the University of NSW that saw students and staff earning cryptocurrency instead of points in return for day-to-day purchases with merchants across the campus.
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