Often, currency is brought into circulation by businesses or institutions as a reward payment to individual consumers or participants. To obtain the currency, individuals are incentivised to engage in specific behaviours. In the case of businesses, the sought behaviour is to increase consumers’ spending at their shop or restaurant. This is exactly what commercial loyalty systems are meant to achieve.
Institutions, in the welfare sector for example, are faced with budget cuts. Their need is to get an increasing number of people willing to volunteer and get engaged with various activities that improve the wellbeing of their patients, without impacting their limited budgets.
The QoinWare NFC terminal app offers these organisations full flexibility in rewarding their respective target groups. At the core of our handheld NFC terminal solution is an Android application that can be installed on any Android smartphone equipped with NFC chip. As equipping your staff with regular Android smartphones can be costly, Qoin can also supply and support you with dedicated low-cost terminal devices that can connect to via WiFi and mobile internet. This way your staff can be fully mobile while rewarding customers or volunteers.
Businesses can set a fixed reward percentage on Euro amounts spent at their location, to be paid out in your local currency units. If for example the reward percentage is 5%, and the value of you currency per unit is €0,01, a purchase of €25 will result in a payment of 125 currency units. Alternatively, the exact amount in currency units to be paid out can be entered directly. This would be the typical workflow when a municipality is organising a neighbourhood clean-up activity for example.
All users need to have their own NFC card linked to their online QoinWare account. Users can connect their card to a terminal at a business or institutions to receive their rewards. If new customers visit a shop they can get issued a new card and create an account on the spot. The card will instantly be enabled to start accepting and making payments.
It is up you whether you want to work exclusively with NFC cards that are issued by your own organisation, or allow any NFC token for use with the terminals in your currency initiative.
Check out the following features of QoinWare or contact us to find out more.