The platform enables everyday consumers to collect crypto rewards frictionlessly on every spend they make.
Sydney-based fintech company Incent has launched its flagship product: a consumer rewards system that issues cryptocurrency to customers seamlessly in the course of their everyday spending.
Building digital wealth
The ultimate aim of the company is to enable ordinary people to save and build their wealth effectively and effortlessly, without having to change their behaviour. The growth of passive investment apps shows the appeal of this approach, particularly among millennials – who lack the opportunities of their parents’ generation for return on their investments. At the same time, personal debt has never been higher, while the global economy faces a period of stagnation or contraction.
‘We know that ordinary people are feeling the pinch, especially the younger generations,’ explains Incent CEO and founder, Rob Wilson. ‘It’s no coincidence that they’re also the ones who are most interested in digital currencies. Incent is using some ground-breaking new technology to enable anyone to grow their wealth every time they spend money, funneling retailer dollars into a digital token of fixed supply.’
Incent uses its custom-developed and patent-pending Insync technology to facilitate the distribution of INCNT tokens to customers. Users sync their bank accounts in a one-off step and are immediately issued with crypto rewards every time they make a purchase. At the time of launch, over 5,000 Australians had already signed up for early access.
While anyone can continue to accrue INCNT tokens, customers are asked to subscribe to gain the full benefits of the platform. Incent issued to customers is bought off the open market, and paid for by monthly user subscriptions and by retailers’ promotional deals – with the platform offering a convenient pay-as-you-go loyalty platform.
‘There is, quite simply, nothing like it on the market,’ explains Jins Kaduthodil, Incent’s co-founder and Head of Product. ‘Our technology stack enables retailers to access an off-the-peg loyalty programme, and customers to earn rewards of real market value, absolutely frictionlessly. There is zero impact to retailer or customer at the checkout. After syncing, the whole process is entirely automatic and painless.’
With the launch of the platform, consumers can access rewards in Incent tokens on every spend they make. To find out more, visit www.incent.com.