A startup dubbed Benebit is aiming to redefine the way consumers interact with store's loyalty programs, through enabling consumers to accumulate points from different stores, and trade them in for something called 'Benebit Tokens.'
Research suggested that the average consumer participates in atleast one loyalty program, yet many are unaware of the various perks or benefits that apply to them. In order to change this, Benebit hopes to replace the numerous cards, programs and rules, with one streamlined system, that connects all stores. Through the system, consumers can collect points and trade them in for Benebit Tokens, which can then be exchanged for cryptocurrency or fiat currency. This digitized monetary system can later be used to make online purchases, or redeem perks.