Our core business is in enabling UK towns and cities to implement local currencies in the form of Mastercard prepay programmes. We work with 30+ cities and towns across the UK to help lock in additional spend for their business communities and stimulate additional economic activity.
We are in the process of developing a holistic smart city card-linked rewards programme. ‘Mi Rewards’ is a revolutionary, place-centred loyalty platform that automatically rewards consumers for spending money at registered businesses. This innovative, easy-to-use programme encourages consumers to spend more money in towns and cities and simultaneously generates data and insights that helps us to understand customer behaviour and the impact of interventions. Rewarding engaged consumers, providing new insight through smart data.
The key feature of the programme is the ability to automatically reward consumers across a network of businesses without them having to engage with staff or the POS. This means that no new technology or staff training is required.
The data generated by Mi Rewards makes it possible for business communities to link with other smart city projects for even greater insight.
The pilot programme launched in Perth in September 2018 and since then 5% of the population have registered with over 70 businesses participating. In Q1’19, Stagecoach join the programme which enables consumers to earn rewards as they purchase bus tickets. This will be followed in Q2’19 with the introduction of mobility tracking smartphone apps enabling consumers to earn points as they walk or cycle into the city centre. Miconex will roll out this programme throughout 2019 to other UK cities using our established network of clients.
Colin Munro – CEO
Richard Gray – COO