Small Enterprise speaks to Uday Rathod, the CEO and Founder of ZNAP, about the platform and whether loyalty programs really work for end customers
How does your rewards program work?
At ZNAP, rewards work differently, real cashback is earned every time a user spends at the brand and is attributed to the brand for the next visit at the same brand to offset the bill, this works well both for the merchant as well as the customer. In this process a connection is created between the brand and the customer, this is the ultimate objective of the rewards program.
Users can earn cashback on every transaction that can only be used back at the same merchant/partner/business in the next transaction to offset the total bill issued. This cashback earned is stored against the same merchant where the customers have made their spending. This way the cashback rewards are way higher than the traditional model.
As the business/partners also understand that the cashback given to the user will be used only at their establishments again and nowhere else, it empowers the Businesses / Partners to give more cashback of up to 50% to gain the attention of the users on Znap. We currently have over 300++ partnered merchant portfolios across F&B, Health, and Beauty, Fashion, and many more categories to choose from.
Do loyalty programs really work or are they just another marketing gimmick?
The essence of loyalty programs is to connect the customer to the merchant in a way that attracts the customer to visit the store again. Traditional loyalty programs mean you have to keep accumulating rewards in the form of points and that in the long run is slowing down the process of visiting the brand again, it is no longer the driving force for the customer. Hence, ZNAP offers real value cashback. Customers receive up to 50% cashback amounts into their accounts as soon as they make payment. It encourages the customers to revisit the restaurant and redeem the cashback.
What about the safety of data stored by users on your app? How do you ensure data is secured?
Znap is hosted on secure AWS cloud hosting. All connections are secure with SSL. All user interactions are secured by Bearer Tokens. No passwords are stored, logins are with OTP only. No Credit card data is stored by Znap, all data handled are on a secured and certified PCI DSS Compliant payment gateway partner.
What is the USP of ZNAP when compared with similar apps on the market right now?
Platforms available in the market today offer just payments, the uniqueness of ZNAP lies in offering payments with up to 50% cashback – a loyalty that safeguards business interest as well as rewards customers with up to 50% of cashback on their spending through ZNAP.