The company saw a nearly 70% increase in transactions across its core payments solution Access Plus
TORONTO, ON / ACCESSWIRE / February 15, 2024 / Engage People, the only loyalty network that enables program members to pay with points (PwP) directly at checkout, reported a 68% increase in transactions from 2022, with more than 23.3 billion points redeemed in 2023 across its Access Plus network, which allows loyalty program members the ability to pay with their points at any participating e-commerce website around the world.
Engage People saw year-over-year growth of more than 48% in total sales in 2023, as pay with points continues to be a popular redemption choice amongst consumers, retailers and financial institutions (FIs). Additionally, the company continued to secure new retail and financial institution partners, bringing its network to more than 53 million members.
"In 2023, Access Plus experienced substantial growth by expanding our network of loyalty partners and clients, driving the pay with points movement forward," said Jonathan Silver, CEO of Engage People. "Consumers are showing a growing preference for flexibility in using their rewards points, which has helped us establish new partnerships with retailers and financial institutions interested in revamping their loyalty programs. We look forward to the continued growth of Access Plus and the chance to offer more consumers the convenience of paying with points at checkout."
In 2023, the company partnered with Velocity Logic/bp to allow bp retail consumers to use their loyalty and rewards points at the pump. Recently, Engage People has expanded that partnership to include Fiserv, bp, and Velocity Logic to enable consumers with credit or debit cards from participating FIs in the uChoose Rewards® program to use their rewards balance for gas rewards at around 7,000 bp and Amoco locations across North America. Through integration with Engage People and in collaboration with Velocity Logic, uChoose Rewards members can now redeem points at the pump, saving 50 cents per gallon, up to 20 gallons.
Engage People commissioned a survey in partnership with The Wise Marketer titled "Paying with Points - 'Tomorrow' Is Too Late." The report explored consumer perspectives on using loyalty currency for online and in-store redemption to realize immediate value. Highlights included: 84% of consumers reported they would use this loyalty currency in the future if offered, and 76% of consumers expressed a willingness to change credit cards to access improved pay with points (PwP) benefits.
Throughout the past year, significant highlights underscored Engage People's ongoing growth, momentum, and thought leadership efforts. The company sponsored Loyalty360's Loyalty Expo, demoed Access Plus at FinovateFall and attended Money20/20 USA alongside the Trade Council, enhancing its industry presence. Additionally, Engage People's CTO Len Covello continued participating in the Forbes Technology Council and Jonathan Silver joined RetailWire's BrainTrust program.
About Engage People
Engage People is the only loyalty network that enables program members to pay with points directly at checkout. The global technology provider connects loyalty programs with global payment systems and online retailers, and covers 100% of the top purchase categories in North America. Leading banks and retailers around the world rely on Engage People for its first-of-its-kind loyalty network and pay-with-points capabilities, which has enabled the redemption of more than 49 billion points and growing. The Company is headquartered in Toronto, Ontario, Canada and has offices in the U.S., Canada and Italy. For more information visit: www.engagepeople.com.
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SOURCE: Engage People