American Express (AmEx) in partnership with online retailer Boxed and global blockchain platform Hyperledger integrates distributed Ledger technology into its customer reward program.
The technology will allow merchants to easily create loyalty programs. This applies to the rewards that American Express cardholders receive for paying for purchases in partner store networks.
The program, implemented with Boxed, gives customers the opportunity to earn 5 times more loyalty points than usual. The new system increases customer engagement by adjusting the reward structure and offering tailored products.
American Express partner stores can choose any product they would like to increase the demand for with the help of the loyalty program.
AmEx is starting giving bonus rewards points to Boxed customers who buy Planters nuts, Dove soap and a handful of other items, but plans to open the program for all their merchants in the coming months.
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