Velocity Logic Group Receives Patent for Loyalty Switch Solution, A Boon to Retailers Wanting Additional Flexibility with Rewards Program Management
Sep 25, 2020 (AB Digital via COMTEX) — September 25th, 2020 – Velocity Logic announced today that the U.S. Patent and Trademark Office issued U.S. Patent No. 10,715,636 on Velocity’s Loyalty Switch technology solution.
Keeping up with competitors through loyalty programs and partners is by far the most challenging task facing retailers today. Fuel Retailers especially have a hard time managing multiple programs, having a consistent consumer experience, and reconciling with brand and program partners. With this patented and innovative piece of technology, Velocity’s Loyalty Switch seeks to enhance rewards program management with improved functionality, flexibility, speed, and efficiency at the pump. The technology will consolidate multiple reward programs and partners into a single hub where all programs and transactions will be routed and aggregated through it. The team at Velocity believes this innovation will be an invaluable piece of tech for all retailers wanting to enable multiple, discount, and loyalty programs across many partners. Vik Mehta, head of sales at Velocity stated “Managing multiple loyalty and discount programs just got significantly easier and less costly because we can provide relevant rewards for each customer, reconcile with each partner, and aggregate discounts from all programs in one transaction.”
The Loyalty Switch will help convenience store loyalty programs and large retailers compact a time consuming and costly method of reward programs implementation. It will enable a tri-fold benefit of increasing loyalty partners, improving the consumer experience, and increasing revenue opportunities. Mirko Gojkovic, CTO at Velocity Logic, believes the cloud-based infrastructure will do away with the complexities faced by retailers struggling to keep up with loyalty programs and reduce costs while simultaneously attempting to control the consumer experience.
Velocity Logic is a leader in rewards technology focusing on developing solutions that are innovative and flexible using agile methodology. Velocity’s current solution set is focused on the loyalty switch, convenience store loyalty, and partner platform.
For more information on the Loyalty Switch: https://sslweb.xyz/loyalty-switch/
Published: Sept. 25, 2020 at 8:21 p.m. ET