Eniac's Point Management Services
In the marketplace, there are various loyalty programs that reward loyal customers. The loyalty programs allow customers to acquire points as they purchase products. These points can be applied to payments for future purchases, discount or cash rebates. The rewards or points can also be redeemed for specific goods or services.
The principle of a loyalty program is to maintain an existing customer base as it is more expensive to bring in new customers than to maintain existing ones. The programs also motivate the customer to buy and they make use of the programs' remaining resources to acquire new customers.
Consumers carry many incentive-based credit cards or loyalty membership cards in their wallets, and collect points without knowing the exact values and advantages of rewards of the loyalty programs. There exist Internet-based services that provide conversion rates to facilitate the exchange of points or air mileages between various specific loyalty programs, but they are limited to exchanging points between only two loyalty programs at a time and hence between only the goods and services associated with those two specific programs. It is also frequently the case that consumers earn large volumes of travel or other points through various programs but the points become irredeemable by the passage of time, the discontinuance of loyalty programs, new restrictions or insolvency. This has been partly recognized in the marketplace, in that some insurance companies will insure rewards under certain terms and conditions.
The value of the rewards and points for many programs are therefore in question, yet the awarding and redeeming participants will sometimes be partly dependent on these loyalty programs to maintain their cash flow.
There is also a cost to maintaining loyalty programs and the issuers do not properly leverage the rewards or points for the awarding and redeeming participants or realize the full value of the points as assets of the program, despite their redemption and exchange value.
Various limited and individual aspects of the invention broadly evoke certain features of pre-existing systems and the following discussion of some of those provides a useful background to appreciate the novelty of the present invention.
Our reward points system gives you the ability to implement unique programs that enhance user experience and increase customer loyalty. You can set up points to be awarded based on a wide range of transaction and customer activities. And control the point allotment, balance, and expiration. Customers can redeem points toward purchases, based on the conversion rate that you establish between reward points and currency. Here are a few examples:
Shopping and Club Card Price Rules
Points can be rewarded to customers on the basis of a shopping cad rule. They can be rewarded as the only action of the price rule, or in conjunction with a discount.
Reward Points balances can be managed by admin users per customer. If enabled in the storefront, customers can also view the details of their points balance.
Refunding to Reward Points
Orders placed with reward points can be refunded to the reward points balance up to the amount redeemed in the order. On our administrator main page in Iran point center portal, the amount of points to be applied to the customer’s balance can be entered. By default, the field contains the full amount of points that were used in the order.
Points can be redeemed by admin users and (if enabled) customers during the checkout process. In the Payment Method section, a Use my Reward Points checkbox appears above the enabled payment methods. The available points and monetary exchange rate is included. If the available balance is greater than the order grand total, no additional payment methods is required. The amount of reward points applied to the order appears with the order totals, subtracted from the grand total, similar to a store credit or gift cards. If reward points are used in conjunction with store credit or a gift card, the reward points are deducted first, and the store credit or gift card is deducted if the order total is greater than the redeemable amount of reward points.