GERMANY / ACCESSWIRE / July 12, 2018 /In the current market scenario, merchants rely on a variety of reward programs to obtain new customers and maintain a sense of loyalty. These rewards are usually offered in the form of points which can be redeemed in exchange for a product or a discount on the purchase of a product. But a drawback to the current system is that a majority of these reward points never get utilized due to these systems being mostly ineffective and fragmented. Another major shortcoming of the rewards system is that these points are handed out by a variety of merchants without any sense of coherence or interoperability, as points accrued with one merchant cannot be spent at the products or services of another.
SUBAJ is a global blockchain ecosystem for online/offline payments, promotions, and sharing of rewards via the use of mobile applications. SUBAJ, has its foundation on the distributed blockchain platform presenting a marketplace for businesses, retailers, merchants and service providers for all to participate and reap mutual benefits. SUBAJ is breathing life into a platform that integrates cutting-edge technologies such as social gamification, augmented reality & GeoDrop technology. The combination of these technologies on the SUBAJ platform is set to revolutionize the shopping experience with the implementation of reward sharing. Every kind of retailer, merchant, club, and community can create their business tokens using the SUBAJ Blockchain Platform (SBP) and offer them to customers as a reward for loyalty. SBP branded business tokens can also be traded for SBJ, which is a public cryptocurrency, consequently allowing loyalty rewards to be also traded for fiat currency.
With the use of mobile Geo-Drop technology, merchants can attract potential customers by communicating with them based on their proximity and preferences. As soon as a merchant sets up a GeoFence, customers located within a certain pre-fixed radius will receive a notification on the SBJ app regarding the offers and promotions from the merchant. The data generated via these transactions would enable artificial intelligence algorithms to process and analyze data. This process would provide merchants/businesses with an overview along with delivering qualitative insights about their target consumer groups.
SUBAJ plans to utilize social gamification by integrating technologies such as augmented reality, which was popularised by games like Pokemon GO and enable customers to interact with the surroundings around them to locate discounts and offers. Using the SUBAJ app, customers can utilize their tokens to unlock unique types of offers when they find a bonanza icon. These bonanza icons will be displayed as customers navigate the map of their surroundings at select locations.
Collecting a certain number of SUBAJ tokens will allow customers to experience a completely free shopping experience at specific stores under the 'SUBAJ Master Offer' program. This can be availed during a select duration of time, incentivizing customers to acquire a higher number of SUBAJ tokens and to transact frequently on the SUBAJ network.
The shopping experience made possible with the SUBAJ platform is set to redefine the entire commerce industry and provide both customers and merchants a better way to interact with one another. Companies and merchants save money by not having to spend on paid promotions, advertisements and marketing while customers can interact with merchants in their area around the globe.
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