JK’s Fish and Chips on Kings Road, working in collaboration with Mintfinity Ltd, a Henley based startup company have announced the launch of JK’s marketing reward currency.
Customers of JK’s Fish and Chips are now receiving reward notes with their food, which they can bank on the Mintfinity platform. Customers accruing enough reward points can then claim free portions of chips or fish and chips, with this new scheme.
Mintfinity founded by David Thomas from Henley and Jamie Paterson, of Yarnton in Oxfordshire uses a model similar to crypto-currencies like Bitcoin, but without employing the burdensome processing required. The service is free to join for small traders, requiring only a printer to start issuing your own loyalty currency using self adhesive labels. At JK’s they use larger size bank notes, that depict the food and the staff in the shop. JK’s also chose to incentivise anyone joining their scheme by offering them a free can of drink as reward for joining.
David said, “One benefit of a currency approach is the trade-ability of points between schemes which increases user adoption. This increased utility benefits all businesses on the platform as it increases the number of people businesses can message with marketing offers and gives businesses insight into how they are perceived. With this approach any shop in the world can start their own scheme just with a printer as our basic service will always be free. Our nearest competitor charges several hundred pounds a year and requires hardware in the shop to operate. So we think we have something special to offer businesses.”