Australian start-up Loyalty Republic is introducing Australia’s first bank and card agnostic direct earn rewards program to democratise loyalty and make rewards accessible and fair for anyone using a debit card.
The Loyalty Republic mobile app will place consumers in control of their rewards earning potential and redemption options, with a simplified model offering 1 point per $1 spent on debit card purchases anywhere. Loyalty Republic already has a growing portfolio of more than 100 in-store and online partners including Boost Mobile, Adairs, T2, Windsor Smith, Bundll, PAS Group, Athletes Foot, Ally Fashion and LuLuLemon, and has in excess of 3,500 products and 250 gift cards available for redemption via its eMall.
In the 12 months to July 2021, approximately $418bn was spent on debit cards in Australia, but an estimated 75 per cent ($313bn) of this spend is not being rewarded at all. Loyalty Republic challenges existing models by no longer limiting direct earn rewards to credit card spend or airline travel and focuses on placing consumer value and freedom of choice at the core of the rewards experience.
“17.5m Australians are enrolled in at least one loyalty program, but less than half of them actively participate. Our aim is to disrupt the siloed rewards landscape by offering greater value, and open up loyalty and choice to consumers and participating partners – more real time rewards, more often, for more consumers, and freedom and flexibility that makes it accessible for large, medium and small businesses,” said Katrina Gravelle, Co-Managing Director, Loyalty Republic.
“We know people love to support businesses that increase their ability to earn more points and unlock greater rewards. With this in mind, we want to be a true partner to businesses by helping to build stronger customer value propositions that leverage consumers’ affinity to loyalty, while putting an end to margin-diluting discounts.”
As part of its commitment to small businesses, Loyalty Republic will make it easier and more rewarding for consumers to shop local. The app will use location-based technology to offer bonus points that encourage consumers to shop with local businesses and incentivise them to visit in-store, rather than using delivery services – helping businesses retain more margin and engage more with customers.
Small businesses can participate in the Your Local program for a low-cost monthly fee. The program is currently in BETA and is free to small businesses for the first three months.
Loyalty Republic has a highly experienced team at the helm, including Tom Ingham (ex-American Express) together with Co-Managing Director Katrina Gravelle. They are joined by Phillip Zada as CTO and Advisory Board members Andrew Baxter (Former CEO and Chairman at Publicis & Ogilvy) and Neil Thompson FAICD (Former CEO at Velocity Frequent Flyer).
