A fintech start-up backed by former American Express and Velocity Frequent Flyer executives is promising to democratise loyalty by launching what it claims is Australia’s first debit card- and bank-agnostic rewards program. Loyalty Republic is launching an app that will enable consumers to earn one reward point for every $1 they spend when they use any debit card anywhere, including retailers, restaurants and airlines, and bonus points when they shop with the company’s partners.
Australians spent about $418 billion on debit cards in the 12 months to July 2021, but it is estimated that 75 per cent of this spending was not rewarded.
Loyalty Republic challenges existing models by not limiting direct earn rewards to credit cards, retailers or airlines and by giving consumers freedom of choice over the cards they use and the rewards they collect. "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,” Consumers are looking for agnostic earn and more immediate redemptions. With Loyalty Republic consumers can earn between $20-$100 in vouchers every month or save them for larger redemptions with over 3500 well known brands on offer . Currently over 234 Retail Partners and two Major exclusive partner deals closed and set to launch in 2022 - EST ARR = 880k+ projection from these partners alone. Now is the time to invest and join Loyalty Republic
Ready to Ask For Funding for your company?
Post a Funding Request