This collaboration marks a significant milestone for the loyalty industry by introducing the world’s first open-loop Loyalty to Payments™ solution, powered by CoinBridge by Nayax’s patented technology. This new pioneering solution allows for seamless conversion of any loyalty asset, such as points, rewards, miles, vouchers, and gift-card, into real transactions, at any shop or merchant anywhere in the world, without the need for any merchant integrations or cross-brand partnerships.
Giift, a global leader in loyalty technology solutions, joined hands with Nayax, a global commerce enablement and payment platform, to revolutionize the loyalty experience by seamlessly bridging the gap between loyalty and payment systems without the need for POS integrations whatsoever. Utilizing this technology, any credit card-accepting merchant can now accept loyalty assets as a payment method as well. Together, we empower brands across the globe, providing unmatched abilities and flexibility to their loyalty program while giving consumers the freedom to redeem their loyalty rewards anywhere, for anything they need.
The CoinBridge Loyalty to Payments™ solution directly enhances consumer engagement, drives higher purchasing frequency and higher spending, and enables retailers to optimize spending volumes. Furthermore, by capitalizing on new consumer purchase data provided by CoinBridge, retailers can now better leverage big data to personalize propositions, increase loyalty, and optimize brand performance – all without the need for integration with merchants or POS systems.
The CoinBridge solution uniquely offers a zero-friction approach and ease of use across the entire payment chain. Retailers can now offer their consumers open-loop redemption possibilities with a seamless “Tap&Go” payment experience through retailers’ existing loyalty apps. From the merchant’s point of view, loyalty redemption is transparent since they facilitate a credit card transaction with no changes to their POS, internal systems, or financial settlement arrangements.
“We are excited about our partnership with Nayax and the transformative potential it brings to the loyalty industry. With open-loop redemption, we can give our customers unprecedented flexibility and freedom to use their loyalty points. This collaboration expands our reach and enables us to deliver a truly global loyalty experience.” says Sumit Uttamchandani, Strategic Partnership Head, Giift.
“We are delighted to partner with Giift and introduce the world’s first seamless Loyalty to Payments™ solution to Giift’s customer base,” says Guy Rosenhoiz, CEO of CoinBridge by Nayax. “In choosing to partner with CoinBridge, Giift is boldly taking the loyalty industry to the next level, opening up exciting new possibilities for retailers and brands and offering a seamless Loyalty to Payments™ experience like never seen before.”
Giift is a leading loyalty technology provider and program management partner with headquarters in Singapore. Founded in 2013, Giift has expanded into multiple countries, including Dubai, Mumbai, New York, London, Wuhan, Beijing, Jakarta, Colombo, Doha, Dhaka, Nairobi, and now Pakistan. Giift has served 3,000+ corporate clients across industries and has created customized, sustainable loyalty and rewards-based programs globally.
Nayax (Nasdaq & TASE: NYAX) is a global commerce enablement and payment platform designed to improve retailers’ revenue and operational efficiency. Nayax offers a complete solution, including localized cashless payment acceptance, a management suite, and consumer engagement tools, enabling merchants to conduct commerce anytime, anywhere. With global experience in serving the unattended retail industry, Nayax has transformed into a comprehensive solution focused on our customers’ growth across multiple verticals.
Today, Nayax’s worldwide influence is reflected in its listing on both the Tel Aviv Stock Exchange (TASE) and on Nasdaq, in addition to its 9 global offices with 800 employees. Nayax has connections to over 80 merchant acquirers and payment method integrations and is a recognized payment facilitator worldwide. Nayax’s vision is to redefine commerce to benefit communities around the world. Please visit www.nayax.com to learn more.