New cryptocurrency reward programme launches in Australia

The INCNT coin aims to reward shoppers in Australia – and brands such as Samsung and Europcar are amongst the early adopters…

Over 300 retailers are said to have signed up for a new customer loyalty programme that’s launched in Australia – with members getting their payments in cryptocurrency.

It’s the idea of a Sydney-based start-up company called Incent Loyalty, that in turn has brought with it its INCNT coin. That coin can then be used for online purchases.

Amongst the companies who have signed up for the scheme are Europcar, Samsung, Catch.com.au and Contiki. Members of the loyalty scheme can, depending on the retailer concerned, earn between 0.5% and 20% of their purchases back in INCNT. We’d suggest that’s more likely to swing towards the 0.5% than 20, though.

INCNT launches in earnest later this year, where it’ll be available as a reward for in-store purchases. Members of the loyalty scheme will need to link up their bank card to their INCNT crypto account in order to get their rewards credited. They’ll also be able to earn INCNT by reading certain articles and watching certain videos.

Here’s the promo video that Incent Loyalty put together. You don’t get any INCNT for watching this one, though…

The programme is still said to be in beta, according to its website. But it does appear to be up and running in part. Find our more, here.