VALUCOIN: Global Cashback Token
Jakarta, Indonesia, June 20th, 2018: Today, For those of you who like to observe technological developments, maybe you have been accustomed to hear the term Bitcoin. Yes, Bitcoin is the most famous virtual currency (cryptocurrency) in the world today. Cryptocurrency itself is a term for virtual currency that uses encryption to verify every unit of money delivery among users, as well as regulate the release of new currency units. This virtual currency operates independently without the intervention of a central bank.
Based on the research, consumers are desperately looking for a cashback program that adds value to their experience. Unfortunately, they are all too often left feeling disappointed and frustrated as they juggle multiple programs that provide little value and complicated ways to earn and redeem points. Cashback programs must be simple to use while meeting the unique needs of every consumer. Consumers aren’t the only ones frustrated with the current loyalty process. Business also share that same love and hate relationship with cashback programs. While they love the potential it brings with consumer engagement and loyalty, they are faced with the recognizing the financial liability of a point at the time it’s awarded. This leads to exemptions, varying point values and changing terms, which are all designed to reduce corporate their exposure. Whether it’s a bank that oﬀers cashback, a travel company that oﬀers miles or a retailer that oﬀers both, having so many programs with little value leads to a fragmented market and an average breakage of 35% in cashback that will never be redeemed. This does not help the cashback provider or promote loyalty. In addition, it is almost impossible to determine the true value of a point, because program rules are constantly being changed. This ends up hurting both the retailer and the member who never accumulates enough cashback point to have a meaningful redemption. Because points are a growing liability on corporation’s books, corporations and program sponsors try to expire, complicate, and devalue the points as much as possible. This creates a conflict in driving true customer loyalty. Customers may feel rewarded when they earn a point, but they certainly don’t when they try to redeem them.
Challenges faced by businesses seeking to implement cashback programs include:
– Declining consumer engagement as demon strated by unredeemed points.
– Increasing financial liability of unredeemed points.
– Growing consumer privacy challenges.
– Rising management and administrative costs.
VALUCOIN, powered by both blockchain and cryptocurrency, is perfectly positioned to eﬀectively solve the challenges of the current business model of cashback programs everywhere. Reinventing the cashback market and placing the power in the hands of consumers will create clear value, global reach and a better user experience.
“We do this by bringing a worldwide universal loyalty cashback token to market for consumers and businesses”, said CMO Valucoin, Aldi Sky Wungkana. “Valucoin have created an ideal ecosystem where the true value of the currency is fully recognized by consumers and cashback merchants. Valucoin goal is a single marketplace that brings together over millions of products and millions of merchant relationships with restaurants, retail, entertainment, travel and more that allows customers to earn and use VALU token.”
The Valucoin platform allowed users to shop online or in-store to receive VALU tokens. Those VALU tokens can then be used to make additional purchases clothes, food, book travel, buy gift cards or even tooth paste. Our ecosystem will provide a fully transparent market value for its tokens based on consumer engagement and behavior in the large cashback ecosystem. Since VALU can be converted to cash for presentation and processing upon redemption, consumers redeeming tokens are not limited by point restrictions, blackout periods and peak payment times.
The Valucoin platform will allow consumers to earn VALU tokens as a cashback for activity, thereby driving traﬃc to our merchant partners for consumer everyday purchases. Earned VALU tokens can be used almost anywhere or trade don’t he exchange.
MOBILE PAYMENT is prefered because customers prefer their cashback to be redeemable anywhere, not just in select places. Through the mobile payment app, the cashback token will use the established merchant payment processing structures to enable the use of the cashback tokens in various locations. For example, a customer may buy a set of tires for which he earns VALU tokens. He can then stop by his favorite restaurant and pay for dinner with VALU token she just earned from buying tires.
CUSTOMER EARNED & REDEEMED CASHBACK The amount of VALU tokens a user has earned or deposited within the Valucoin system is kept in an internal account ledger (oﬀ the blockchain.) Valucoin assigns that user a VALU token based on the token’s current market value and the value of the cashback. When a user redeems VALU for a product or service with a certain value, Valucoin subtracts an equivalent amount of VALU tokens from the user’s ledger record and uses USD to purchase the product or service. When Valucoin need to add tokens to a user’s account, we will buy the needed VALU tokens from the open market of available tokens to fulfill the consumer’s earning at the current market rate. Cashback are funded by merchant partners and are passed on to the consumers. Instead of cashback or points the consumer earns VALU tokens. Bonus and promotions.
About Valucoin: Valucoin is a leader and pioneer in consumer loyalty and rewards marketing. Valucoin’s team has a proven track record of consumer engagement with years of experience in the design, development and management of complex loyalty and cashback programs. By listening to the needs of customers and learning from the experience of managing some of the world’s largest consumer loyalty programs, they have gained expertise and trust in this booming industry.
Source: ICO Press Release