Drop Rewards Program Ready to Enter US
- Monday, December 5th, 2016
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Drop, a Canadian mobile rewards and loyalty program, is set to roll out to the US. The app helps people collect rewards points from retailers, once they have linked the app to their credit or debit cards.
Users collect points based off the purchases they make through their debit or credit cards. These points, collected on various rewards programs, are stored on the Drop app – removing the need for multiple physical loyalty cards in people’s wallets.
Furthermore, the app uses an algorithm to target users with offers based on their spending habit, rather than standardised offers.
Speaking to Business Insider, Drop founder and CEO Derrick Fung said: “In Canada and other parts of the world, loyalty and rewards is a much more mature market.
“But in the US, there hasn’t been one player that has been able to cover the whole US nationally. With a lot of these types of companies and even financial institutions, we’re able to help them speak to the younger demographic better than they can.”
The app has built up a base of 70,000 millennial-aged customers actively using the app in Canada and has reached number three in the App Store. Drop is currently rolling out a private beta version in the US – with plans to fully launch in New York City, San Francisco and Austin with the first six months of 2017, according to Business Insider.