My Rewards International (ASX:MRI) has been featured in Stockhead following the Company's recent ASX announcement, discussing its major deal with Wyndham Destinations Asia Pacific (WDAP), part of the world’s largest vacation ownership, exchange and rental company.
This deal opens up significant growth prospects for MRI, as it expands into the three Asia Pacific markets of China, Japan and Indonesia.
The article states:
"The deal will see My Rewards develop and operate a customer rewards program for WDAP as part of the travel giant’s “Lifestyle by Wyndham” rewards program.
The “Lifestyle by Wyndham” has been launched to great success in Australia and New Zealand, with the roll-out to extend across China, Japan and Indonesia over the next year.
Through this program, customers of WDAP will be able to access and engage with My Rewards and transact on the My Rewards platform."
The program will not only offer the customers with savings on everyday purchases, it will also generate subscription and transaction income to MRI.
"We are aggressively expanding our operations, and My Rewards is in advanced discussions with several companies keen to customise their employee engagement and customer loyalty programs as they emerge from the Covid-19 pandemic."
David Vinson, Executive Chairman, My Rewards International
Rapid progress on other activities
Ria Money Transfer
The contract between MRI and Ria Money Transfer will expedite the initial rollout of the Company’s customer rewards platform to six countries in the Ria network.
The article states:
“While its domestic business continues to grow, My Rewards is executing its initial global rollout through Ria, starting with entry into the Malaysian market which will mark the first step in a broader push across the Asia-Pacific.”
My Rewards' Digital Wallet
The launch of the Digital Wallet will facilitate further expansion for MRI. Through a QR-code system, the Digital Wallet will allow the Company to monetise in-store transactions that were previously unavailable.
MRI will then onboard merchants to the platform and deploy them into brick-and-mortar stores.
Perx Rewards
MRI is also focusing on the integration of Perx Rewards after the acquisition of Perx into the business.
The article states:
“Perx Rewards, which is trading as Infinite Rewards, has been operating for over 15 years, providing its 150,000 members with access to discounts on online retail, travel deals and exclusive access to events. It generated annual revenue of $12.65m in FY21.”
Read the full Stockhead article here.
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