Loyalty Currency

Loyalty Currency

The Loyalty Currency feature within LoyaltyOS functions as the central currency for transactions within loyalty programs, embodying a business's commitment to rewarding members. It encompasses three distinct types of Loyalty Currency: Redemption, Recognition, and External.

  • Redemption Currency: This currency allows members to redeem a diverse array of rewards, including gifts, products, and exclusive perks available within the loyalty program.

  • Recognition Currency: This currency is utilized to rank customers within the Tier features of the program, reflecting their engagement and loyalty levels. It's an internal measure of member status or rank.

  • External Currency: This loyalty value comes from sources external to the loyalty program, like partnerships, alliances, or points obtained from other businesses. It broadens the options for redemption and engagement within the program.

To access Loyalty Currency

Step 1: Click the Operator Config icon located in the bottom left corner of home screen.

Step 2: Go to Program Design.

Step 3: Go to Loyalty Currency.

Step 4: The Loyalty Currency List is displayed.

To create a new Loyalty Currency

Step 1: Click the Create button located in the top right corner of the screen to create a new Loyalty Currency.

Step 2: Enter the Loyalty Currency details, including:

  • Information:

    • Currency name

    • Currency type: Redemption, Recognition, or External

    • Description

    • Avatar

    • Background

    • Status

  • Validity:

    • Activated after

    • Validity after activation

  • Cost & Price:

    • Redemption price

    • Selling price

    • Selling price on redemption price: Automatically displayed based on the entered Redemption price and Selling price

    • Operation cost

    • Billing price

    • Billing price on Operation cost: Automatically displayed based on the entered and Operation cost

    • Apply different billing prices for exceptional merchants: Yes/No

  • Rounding:

    • Round rule: Half up, Up, Half down, or Down

    • Apply different rounding rule for exceptional merchants: Yes/No

  • Tags

Step 3: Scroll down the screen to enter all the required information.

To view or edit an existing Loyalty Currency

Step 1: In the Loyalty Currency List, click the “â€Ļ” icon in the respective Loyalty Currency tab.

Step 2: Click the Edit icon.

Step 3: The details about the Loyalty Currency are displayed for viewing or modification.

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