WeCash – Malaysia’s First Mobile Reward Platform
Kuala Lumpur (22 May 2017) — The first mobile reward platform WeCash has finally soft launched in Malaysia. Nowadays shoppers and consumers can sign up WeCash member for FREE by using the popular WeChat social media App. Once becoming WeCash member, the consumer can enjoy reward points and redeem cash and product voucher.
WeCash is developed by goSMACSdnBhd which is the first cross-industries social media customer loyalty and reward platform. It aims to embark to a card-less and cashless smart digital lifestyle.
WeCash is designed as a loyalty reward point system with digital card. While earning their reward points, WeCash members can redeem their favorite Cash/Product Vouchers in WeCash Digital Redemption Center offered by Merchants of various industries. Hence, helping members to continue saving more money.
goSMACSdnBhdExecutive Director KK Lai told the media that WeCash is built upon WeChat platform with the main aim to provide more values to the current 10 million and above active WeChat users in Malaysia.WeChat has more than 800 million registered users globally.
“One out of three Malaysians has a WeChat account due to the mobility of hand phone and people are engaged in social media everyday,” He said.
Besidesbenefiting the consumers, the SME Merchants can use WeCash as tool to know their customers and attract new customers from other industries to its business.
As the first WeChat Cross-industriesSocial Loyalty Alliance cloud-based platformin Malaysia, WeCash helps Merchants to collect customer data for customer relationship management (CRM) purpose through the social media platform. With customer’s data, Merchants starts to know who their customers are, understand their customers, create repeat sales, new leads generation, reward customers and increase business revenue.
KK Lai points out that the current retail business is no more like the good old days where you can sit and wait for customers to come to you. SMEs need to take proactive steps to build relationship and interact with customers through social media and digital marketing platform to increase customer trafficAnd WeChat is one of the Social Media platforms with huge ready data base to be tapped on. As such, WeCash platform is built on a sharing economy concept where Merchants can connect with the big pool of WeChat users and customers data base from various industries.
“WeCash is known as the Smart Merchant platform that works closely with WeChat social App. Its loyalty alliance platform works differently from the conventional standalone reward or discount card program which at the end doesn’t really help the Merchant much.”
“First and foremost, the cost for areward card system including software programming, system integration etc. will easily cost RM 30,000 and above.If you want to build your own Mobile App, the total cost could easily go up to RM500 thousands or even a million ringgit and above” he said.
“Secondly, the consumers are facing hard time to redeem exciting redemption offers due to huge reward point requirement and also the points expiry condition.”
“Moreover, a standalone reward and discount cardprogram cannot realise the benefit alliance of cross-industries resource sharing amongst the Merchants and consumers. This is the unique function and value of WeCash”
With more SMEs introducing their own standalone card, the consumers are forced to carry more cards while shopping. It is a frustrating experience when consumer has to carry many different loyalty cards to be presented to different Merchants.
WeCash enables SMEs to use a cohesive reward point system. It allows consumer to use one system to earn the reward points and able to redeem multiple choice of rewards. Compared to the standalone reward point system, WeCash is more effective, more competitive and more attractive. It is truly a one card system for all.
Through WeCash mobile platform, the Merchant gets the benefits by sharing customers from other cross-industries participating Merchants. The consumer can earn reward points from many different Merchants under one platform. It brings benefits to all parties within the business ecosystem.
“Most importantly, WeCash is a card-less reward system that fits well with the current shopper trend. It is so convenient that you only need to scan a QR Code and enjoy the rewards and savings.”
Another unique point of WeCash is it is designed to collect customer’s data. These data will then turn into valuable asset of the Merchants, which eventually improves the quality &value of business.
“Many SMEs operate in cash and carry business model, therefore unable to capture their customers’ data base. When it comes to promotional campaign during downtimeit will be limited in their physical premise or advertise through expensive conventional media.”
“Nowadays, big corporation like Alibaba keepsincreasing their business revenue though big data analysis. SMEs should start with our own “small-data management”. This“small-data management” will enable SMEs to plan and promote its marketing strategy more effectively. It will connect SMEs closer to its customers, strengthen customer relationship and building a strong brand,” KK Lai explained.
“During the promotion, the first 1000 WeCash Smart Merchants will enjoy a discount up to RM 3,720 with the waiver of 1st year support fee, registration fee, set up fee & activation fee. The Merchant needs to invest only RM 600 to start experiencing the functionality and values of WeCash Platform” he said.
Stay up to date, please visit www.wecash.my.