|By Business Wire||
|December 1, 2016 11:00 AM EST|
Rewards21 – a Chicago-based rewards program that provides cash back for dining – today introduced a card-linked offer (CLO) technology platform that enables registered consumers to earn cash back by simply using their credit or debit cards at participating restaurants, removing the hassles of coupons. The technology can track an online advertisement or registration to an offline transaction in less than a minute.
The Rewards21 CLO platform provides an easy, free and seamless experience for both diners and restaurants. After registering for free, rewards21.com diners can earn rewards on top of the rewards they already earn by paying with their registered credit or debit cards. Restaurants can harness massive marketing power without the hassles of creating and managing coupons, dealing with fine print, wait staff training, mistakes on tipping, and all the other friction associated with coupon distribution and management.
“Cash back is the new coupon,” said Rewards21 CEO Cary Chessick. “CLO technology gives consumers a way to save by paying with their very own cards. It removes the steps of purchasing, printing, presenting and redeeming a coupon.” The coupon industry has seen evolution over the years. Consumers once found coupons in circulars, then online, and in recent years while the purchase of coupons became wildly popular, the consumer was left with a multi-step process of purchasing, printing and presenting to merchants to earn the discount. “Now, the coupon is simply and automatically attached to your very own credit or debit card through the Rewards21 technology platform,” Chessick said. “It couldn’t be more convenient.”
Equity financing will enable Rewards21 to offer convenience and savings to more O2O consumers
Rewards21 recently completed an equity financing round bringing raised capital to $2,725,000. The round will help expand Rewards21’s presence and offerings across the country. Chessick said the Rewards21 technology is a prime example of online to offline (O2O) commerce as it can track an online action to an in-store transaction, ultimately providing the ability to give attribution to the online advertiser. In this case, a simple one-time online registration can be tracked to a transaction in a restaurant or any retailer. Industry experts estimate O2O commerce to be a trillion-dollar growth opportunity.
Consumers register one time by designating a credit or debit card at Rewards21, dine in the network and get rewarded with cash back, it’s that simple. “There is a new ‘reg’ path in town called card on file. A one-time card on file registration, followed by long-term convenience and savings, is the new registration path. This is the expectation of the modern-day consumer and is quickly becoming the user experience of choice. Uber has proven that,” Chessick stated.
Rewards21 is great for business lunches and dinners, entertaining clients, dates – any dining experience where the diner wants to avoid the stigma and friction of a coupon, he said. The Rewards21 team is led and backed by industry veterans that “got the band back together” to build something big and disruptive. “The timing is right, the technology has arrived, and the market is already embracing cash back as the new coupon,” he stated.
Rewards21 is an easy and convenient rewards program that gives registered members cash back for dining at restaurants. Rewards21 gives these consumers a discreet and seamless way to save money without the hassles and stigma of coupons. Rather, by registering with Rewards21, the member gains cash back to the registered credit or debit card.
Rewards21 has rolled out its Employee & Customer Rewards Program, bringing card-linked offers (CLOs) and disruptive technology to the rewards and incentive industry. As companies look to offer, reward and incent both employees and customers this season, Rewards21 removes the many steps historically necessary to purchase, print, present and redeem a coupon. Instead, consumers register for free, link their cards and codes, dine at Rewards21 restaurants, and start earning cash back. Go to rewards21.com to find great restaurants nearby.
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