Key Takeaways
- PointsKash enables users to user their reward points as cash
- PointsKash will use proceeds to launch product and marketing initiatives
PointsKash, a cryptocurrency ‘Reward Cash Wallet’ platform, secures seed funding from Seabury Global Markets.
PointsKash, a Florida based FinTech startup is leveraging Algorand to launch the first blockchain enabled platform linked to a mobile phone application that will allow consumers to aggregate, convert, track and spend their rewards and loyalty points while giving issuers the power to engage consumers.
PointsKash has developed a proprietary platform that services consumers, rewards points issuers and merchants in the conversion of loyalty rewards points to cash, utilizing stablecoins, tokens and blockchain technology.
PointsKash has brought together a team of experts from financial services, technology, loyalty rewards issuers, legal and marketing to bring this exciting offering to market. Primary sales and support group is in Boca Raton, FL with technology and additional support in Palo Alto, CA.
PointsKash serves as a direct communication link across rewards programs that can utilize mobile push notifications, email, social media, and SMS alerts to help consumers stay in-the-know about special programs, bonus points, coupons, and other ways to generate or maximize the value from their rewards points. Soft launch is planned in time for the holidays.
PointsKash intends to address the discontent expressed by consumers related to their inability to spend reward points at places they truly like and the feeling of being ‘locked in’ with very few options.
PointsKash—built on the high-performance, low-cost, and fully decentralized Algorand blockchain—is positioning itself to be a ‘Rewards Cash Wallet’ to help consumers be more efficient shoppers and to enhance their shopping experience. By aggregating points into a single interface and converting them to PointsKash users can easily see their total rewards on a single screen and immediately translate them into a monetary value.
Steve Janjic, PointsKash Co-founder & CEO, said:
“We built PointsKash to help the consumer capture their portion of billions of dollars in reward and loyalty points available to them with a simple and easy to use application while providing points issuers with the ability to meet their redemption goals. “We see an opportunity to bring consumers and points issuers together in one place. It’s about putting the power of points to work. Pay your way. Play your way. Give your way.”
Rob Fleschler, CEO of Seabury Global Markets, said:
“We are thrilled to partner and support the PointsKash team on their journey to improve the loyalty point redemption process and the introduction of digital wallets that allow consumers to freely spend their hard-earned points.”