SOURCE: WingCash

WingCash

December 16, 2014 10:00 ET

WingCash Helps Any Business in the U.S. Attract and Retain Customers With Digital Brand Cash

Merchants Can Now Distribute Their Own Currency With Their Own Branding

LEHI, UT--(Marketwired - Dec 16, 2014) - WingCash today announced that any business in the United States can now provide and distribute their own digital currency or Brand Cash for gift, loyalty, rewards and promotional programs.

Brand Cash is a closed-loop, digital currency that a business creates with WingCash to use with consumers either for online purchases or at a brick-and-mortar store location with a smart phone. With Brand Cash, merchants gain increased marketing capabilities and get their brand prominently featured in the consumer's eWallet. For consumers, they no longer need to carry merchant-specific gift and loyalty cards because they will have access to Brand Cash in an eWallet.

"Companies today are struggling to compete for consumer's minds and attention and now companies can leverage digital currency in a new way to secure consumer attention, increase awareness and improve loyalty," said Bradley Wilkes, CEO of WingCash. "Many companies, particularly restaurants and retailers use a loyalty card with point system. This tends to confuse consumers rather than motivate them because they have a harder time understanding what 15 or 150 points means to their buying options. Conversely, $5 in Brand Cash means $5 and they can instantly translate that into purchasing power."

WingCash has made it simple for companies to create their own Brand Cash in a matter of minutes. They sign up for a wallet at www.wingcash.com then create the cash design (which can incorporate a company's logo or other branding elements) in a few clicks. They are then instructed on how to create an offer and posting to their current and potential customers.

Businesses can use an eWallet in two innovative ways. First, they can create special offers for promotions using their Brand Cash. Second, they can use it to automate loyalty programs. Merchants have access to detailed reports that are invaluable to business owners and marketers, including:

  • Distribution and Redemption - Shows the value Brand Cash distributed and redeemed.
  • Provider Liabilities - Shows the wallets holding the providers Brand Cash and how much is held by each wallet.

"This is a way for companies to use their own currency, without involving a financial institution, to drive loyalty and awareness," Wilkes continued. "The benefits to Brand Cash are multifaceted. A merchant isn't paying to print a coupon that can be redeemed with the competition. They receive branded promotions, no transfer fees, no plastic to present, no print to distribute and they can quickly and easily posted their offers through any number of channels including social media. They can tweet an offer or post it to Facebook or LinkedIn and track results on what worked and why. It is a simple and extremely powerful multichannel approach to promotions."

About WingCash: WingCash is an innovative system of electronic wallets that combines payments and promotions with digital currency. WingCash gives consumers a convenient, secure, cloud-based wallet that holds payment cards, U.S. currency, and Brand Cash. It gives businesses a low-cost way of branding themselves within a wallet and driving their loyalty/rewards programs. Financial institutions can participate by earning transfer fees, by holding cash as it circulates and by having a payment card it issues enrolled in the wallet. For more information, visit www.wingcash.com.

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