The Philippines has introduced its own version of Uber christened Grab Philippines. However, the ride-hailing app will not operate alone thanks to a partnership with Philippine’s blockchain company LoyalCoin. The due has entered into an agreement, which will allow the use of a crypto digital wallet known as LoyalWallet. Anyone riding on Grab Philippines will be able to pay for their ride using P50 to P100 discounts redeemed through their LoyalCoin.
Following the out bust on the use of digital currencies to acquire services, the move by the Filipino company is commendable. The good thing about the crypto’s digital wallet is that is available on Google Play and Apple Store. Apparently, LoyalCoin will go on record as being the first Filipino company to introduce a token payment system. It also implies that the Philippines is yet to tap into the blockchain technology market.
The loyalty-oriented digital aims at enhancing the traditional rewards point systems
For a while now, the market has been awash with traditional rewards point systems. They are not only rigid but also unfriendly to use. Thus, the need for LoyalCoin, which will act as a cryptocurrency payment gateway and exchange. The LoyalWallet application is easy to use because the only requirement for the user is to input their acquired codes as promos.
The CEO of LoyalCoin, Patrick Paul Palacios affirms the partnership with enthusiasm. He outlines that the primary goal is to have global acceptance of the blockchain technology.
But will the duo accomplish its intended mandate?
According to Grab Philippines head for business, Steven Martin Luchangco, the duo has a bigger vision of bringing convenience to its clients. They are looking into being able to support their clients meet their everyday needs.
Luchangco says, “Our partnership with LoyalCoin is highly aligned with our goal of bringing our consumers closer to the things that matter to them and providing services that support their everyday needs.”
On the other hand, Palacios confirms their intention of embracing customer-driven, and forward-looking strategies. The partnership is one of those strategies, which is likely to help the Filipino company take its local roots to a global stage.