Punch In is striving to be a company that will combine customer rewards with social consciousness. We want to interact with local businesses to set up a rewards program that allows customers to donate to charity one punch at a time. Although we will be in a donation/charity space, I believe we will be in greater competition with other customer loyalty companies. We will have to convince local companies that they want to go with our rewards program that donates to charity over a rewards program that directly gives back to the merchant.
One company in the same space as us is Firefly Rewards (TM) (https://angel.co/firefly-rewards). They position themselves as “the world’s first proprietary cloud-based customer loyalty and communication system for local businesses.” They offer a way to have a customer loyalty program without the customers having to remember physical markers of the rewards program. In addition to this, they include an easy way for merchants to contact their customers. Firefly Rewards’ value proposition is an in-house rewards program that protects a merchant’s customer base from offers from other businesses using the same system.
Firefly Rewards seems to be reaching their customer base of merchants. As of Oct 23, 2012 they had over 300 merchants gathered and in August of this year they became the loyalty engine of Anovia Rewards.