If you’re one of the millions of people worldwide who have lost your loyalty reward travel points due to complicated systems, expiration dates, or over pure frustration, we feel your pain. There is now an answer to simplifying the loyalty rewards program thanks to blockchain.
There are promising and newfound incentives for both travelers and merchants utilizing loyalty reward programs on the blockchain. Blockchain technology has opened the door to unrealized opportunity by providing simplified, transparent, and frictionless peer-to-peer transactions through a decentralized network.
With advancement in technology comes new opportunity to empower travelers to aggregate their various loyalty reward point programs and redeem the points for rewards. In return, merchants are able to provide added flexibility to customers, transitioning from more rigid legacy systems.
The Issue with Loyalty Rewards Programs
According to research, 72 percent of U.S. adults online belong to at least one loyalty reward program. Of those enrolled in loyalty programs, the average number of programs to which they belong is nine. With this in mind, nearly a quarter of respondents said they belong to too many loyalty programs.
With thousands of loyalty reward programs available, customers find it challenging to accumulate enough points in a reasonable amount of time to redeem rewards. Oftentimes, they may use such programs infrequently, accumulating points when they use a certain hotel, airline or car rental brand but entirely unsure of when each program’s points expire.
Gozo helps consumers maximize the value of their loyalty rewards programs through the Gozo Wallet and reward points clearinghouse, offering a unique bi-directional conversion of loyalty reward travel points and member benefits. Utilizing blockchain technology, users may convert their reward points to GOZO tokens, which provides the unique ability to convert a variety of cryptocurrency directly into travel, as well as provide an easy crypto adoption pathway, with tangible benefits, for non-crypto holders into the crypto world.
A secure, efficient, and unified clearinghouse for travelers to manage their loyalty travel rewards details from A to Z becomes an ideal experience. As user activity increases, merchants can expect to see higher rates of customer satisfaction and engagement with their loyalty rewards programs, while costs in management, transactions, and customer acquisition will significantly reduce.
Industry-First Tokenized Loyalty Rewards Management & Exchange
About $400 billion in points are expected to be issued to loyalty rewards program members by the end of 2018. With the Gozo Wallet, members can aggregate, track, store, exchange, send, combine, and transact loyalty rewards points under one consolidated wallet. Rewards become easier to obtain because each user’s medley of loyalty rewards programs in the marketplace are are trackable and synced in near real-time.
GOZO tokens provide a higher value to users because of the travel discounts the tokens unlock, as well as their role in serving as a universal loyalty reward token, enabling exchange and liquidation of loyalty reward points from various providers.
Tokenized Travel Savings
Blockchain is equipped for handling complex transactions. A secure, fungible, non-expiring, liquid crypto token enables a whole host of possibilities for travelers, including exchanging it for other crypto tokens, fiat currency, or for wholesale-priced travel within the Gozo platform. With an off-chain wallet, a loyalty reward points clearinghouse, and a travel club, members receive the best of every world in travel from managing loyalty rewards to booking travel and receiving incredible tokenized travel savings.
Gozo puts the money back in member’s hands. It’s GOZO Plus travel club is the low-cost, high-value provider of exciting travel opportunities for business or pleasure offering a secure, efficient, and hassle-free platform to track and redeem rewards. Unlike traditional rewards programs, the savings you achieve booking your first trip through the members-only platform will likely save you more than the monthly membership fee.
GOZO Plus also offers members rebates and rewards in the form of GOZO tokens when booking travel arrangements directly through the travel club. The more bookings a user makes through the Gozo platform, the higher the rewards. Furthermore, Gozo provides free access for tiered members to travel benefits typically reserved for luxury travelers, such as airline lounge access, travel insurance, medical evacuation jets, concierge services, and more.
A Utopian Marketplace for Travelers
Blockchain is changing the business of travel and associated loyalty rewards programs. The ability to utilize blockchain technology to create an entirely new platform where members can take comfort in knowing their loyalty rewards programs are trackable and secure, while also securely booking travel at wholesale prices, makes life a little simpler – just as technology promised.