Sionic Mobile helps bring mobile loyalty to underbanked consumers
Sionic Mobile and Customer Engagement Technologies have announced a partnership to provide mobile loyalty and instant universal rewards to the underbanked population — i.e., consumers that tend to shy away from relationships with traditional financial institutions.
PaySwag, a mobile app by Customer Engagement Technologies that helps improve the payment experience for the underbanked, is integrating Sionic Mobile's Ion Commerce EngineT to enable the loading of cash into a mobile wallet, according to a press release. That will enable app users to pay for purchases with their phones and instantly earn rewards via the Mobile Rewards Marketplace, which includes more than 100,000 retail locations.
Additionally, the PaySwag-Sionic Mobile integration will use credit and debit card processing through JPMorgan Chase, according to the announcement.
"We are pleased to partner with Sionic Mobile to provide the underbanked with a universal, user-friendly rewards program," Max Haynes, CEO of Customer Engagement Technologies, said in a statement. "The underbanked are also under-rewarded and until now there really haven't been any mobile loyalty or incentive programs. The Mobile Rewards Marketplace is unique in that there are no cumbersome requirements and restrictions on when and how the rewards can be used, no expiration dates and, most importantly, users can earn and spend rewards at any of the retail locations in the marketplace, nationwide."