Digital wallet software

A loyalty digital wallet is a versatile tool that allows customers to accumulate and manage various digital assets – such as points, cashback, or specific loyalty currencies (like "Bean Bucks" or "Stars") – within your ecosystem.

A loyalty wallet is essential for enterprise growth because it directly drives repeat business and significantly increases the Average Order Value (AOV) by making it seamless and rewarding for customers to spend their earned currency back with your brand.

Open Loyalty's solution is a sophisticated API-first engine designed for complex loyalty schemes, not just simple stored value. Unlike a basic gift card, our wallets allow for:

– Multiple currencies: You can configure several parallel wallets (e.g., points, cashback, prepaid currency) simultaneously.

– Flexible earning rules: Currency can be earned not just through transactions, but also through behavior, engagement, and customer tier.

– Advanced control: You have granular control over activation periods, expiration dates, and anti-fraud limits for each currency type, ensuring the long-term integrity and value of your loyalty assets.

The primary business outcome is accelerated Customer Lifetime Value (CLV) through highly incentivized spending loops.

– Boost engagement: By offering different wallet types (such as cashback on every purchase), you create a constant, visible incentive for the customer to return and use their balance.

– Targeted Earning: With Open Loyalty you can reward desired customer actions beyond simple purchases. For instance, you can reward customers who complete a survey or reach a specific tier with a bonus in their cashback wallet, immediately driving the next transaction. Such rewards motivate specific behaviors that benefit the business.

Control and fraud prevention are managed in Open Loyalty through detailed configuration and real-time monitoring tools. You can define strict rules on every digital asset, including:

– Expiration dates: Configure "Bonus Stars" to expire after 90 days to create urgency and manage liability.

– Anti-fraud limits: Set maximum daily earning limits or pending times for activation to prevent fraudulent activity and misuse.

– Oversight: Your customer care team has full oversight via detailed logs and the ability to execute manual adjustments, ensuring fairness and accuracy in case of customer disputes.

Yes. Open Loyalty is an API-first engine, meaning seamless and robust integration is our core strength.

– Wallet API: The Wallet API allows you to seamlessly embed digital wallet functions into any customer-facing application.

For example, a customer's purchase on your e-commerce site instantly updates their points balance via API, and their mobile app displays the new balance instantly.

– Data synchronization: All earning and spending data constantly flows into your existing backend systems (CRM, CDP, etc.).

In practice, this means your marketing team can send targeted promotions based on real-time wallet balances, maximizing relevance and campaign effectiveness.