FAQ

What is Twism Inc.?

Twism is pioneering the next generation of loyalty systems to be based on coins as rewards. The company’s platform allows any business to mint its own uniquely branded coins to distribute to customers, and tracking technology records which consumers receive them. Each transaction builds for each business a growing list of its own customers enabling them to enrich and reward loyal patrons.

What is the Twism vision?

We want to be the first company to bring a virtual reward coin to the masses. When Amazon founder Jeff Bezos saw that internet usage was experiencing 3400% growth at the time, he had the foresight to quickly mass market e-commerce to eventually create “The Everything Store.” Virtual Coin Rewards are at a similarly early stage. Twism’s vision is to commercialize virtual coins by empoqering any and all businesses to easily create their own branded coins on our platform. The first application we expect is for businesses to reward their customers post-purchase with their own coins — akin to loyalty points. Twism’s simple coin solution works for every business and eliminates the current landscape of fragmented systems that can’t or don’t work with each other. That’s a tremendous market opportunity with widespread and frequent usage.

Why loyalty?

Loyalty is a common use case that nearly everyone understands, and it’s a much bigger industry than most people realize. Companies spend $50 billion1a year on the setup and maintenance of customer incentive programs based on points, offers, gift cards, and the like. When a loyalty program is successful, it can account for 20% of a business’ profits. However, current architectures are archaic and fragmented. It’s cumbersome for consumers to carry around several paper punch cards or juggle multiple systems. It’s no surprise that half of all loyalty program accounts are inactive, and an estimated $500 billion2 in points is left unredeemed by customers. Twism’s coin-based solution makes loyalty a simple plug-and-play application for any business and consumer to use both on and offline.

Besides Amazon, another Seattle-based company has inspired us: Starbucks. Its mobile app is one of the most successful programs in the world. Besides managing loyalty points and allowing for mobile payment, there is a hidden advantage to the Starbucks loyalty program–namely, stored value. Customers load up their prepaid cards on the phone app regularly, essentially lending the company nearly $2B in interest-free deposits. This earned Starbucks over $150MM in interest last year alone. Another example of float is PayPal, where the company is sitting on $15B of money that users have received but not yet transferred to their bank accounts. Stored value has allowed these companies to hold more cash than many regional US banks have on deposit. Twism’s universal loyalty app provides the same unique functionality to every other business.

What features do the coins have?

The Twism technology allows the same coin-based instrument to be used for many purposes. Besides serving as loyalty points, the same digital assets in the form of a coin can be used as coupons, gift cards, rewards for constructive feedback, and as a means to pre-load value at any particular location (stored value). Businesses can also set coins to perform like coupons or promotions, where if these coins are not used by a certain date or time they simply expire or are “burned.” Therefore, a business can use Twism’s one-stop and comprehensive virtual coin-based technology for many of its marketing needs, eliminating the need for an array of multiple offerings.

How do consumers receive coins?

Consumers can receive coins in several ways:

  • Making a purchase of goods and being rewarded with loyalty coins
  • Pre-buying stored value
  • Geolocation: by walking in proximity of businesses and being airdropped coins
  • As promotions or offers in lieu of coins
  • Referral programs whereby they are referred to certain businesses by frequent customers
  • Sending feedback to their merchants
  • Joining merchant birthday clubs

Where are the coins stored?

Tokens are stored in the Twism Master Wallet App where consumers can hold and redeem all accrued coins from each merchant.

What else does the Coin Wallet App do?

Beyond convenient storage, the wallet allows users to:

  • Share/gift coins from one consumer to another
  • Receive airdropped coins as promotions from merchants
  • Communicate directly with participating businesses
  • Join birthday clubs
  • Benefit from merchant referral programs
  • Participate in any merchant’s marketing event or promotions
  • Purchase coins from merchants

Why is a coin-based system better than loyalty points?

For consumers:

  • Offers the convenience of having all loyalty currency in a centralized wallet and eliminates the need to keep punch cards
  • Allows for peer-to-peer gifting through a digitized exchange marketplace
  • General enjoyment of gamification and an efficient consumer experience

For merchants:

  • Allows control of the coin value and rules for coin redemption that can influence buying behavior
  • Lets businesses pre-sell coins at a discount to encourage patronage while alleviating cash flow issues
  • Provides the ability to brand all marketing and promotions
  • Allows for incentivized consumer marketing
  • Creates individual branding opportunities
  • Generates unique offer-based marketing solutions, such as geolocated, ad hoc, or time-dependent promotions

Why does Twism collect and collate data?

Personalized data is valuable. Personalized data combined with agnostic purchasing habits (time of day, location, identification of edibles, goods, products or services, etc..) creates a proprietary and extremely valuable database that can enable merchants to better target their offerings and reward programs to increase growth, generate new customer acquisition and lifetime spend, and further incentivize their existing customers.

Twism compiles individuals’ rich data profiles via its front-end coin platform. The back-end database is an encrypted and curated registry where coin-based transactions are continuously compiled to enrich an ever-growing dataset consisting of valuable information pertaining to consumer relationships with local merchants.

Much like Search Engines read your browser to deliver highly relevant and interesting advertisements to you, Twism will use the same double-blind (agnostic data) approach to enable merchants to target customer segments with specific offers and incentives. However, merchants are not privy to nor can they access personalized data.

How does Twism Inc. generate income?

Twism, Inc. will realize revenue from two distinct areas.

  1. Stored Value Platform Management Fees: When merchants pre-sell their branded coins to consumers, Twism will receive a percentage of that transaction as a management fee.
  2. Data and Messaging: Participating merchants will pay a marketing fee to acquire new customers and Twism can directly suggest these merchants to consumers in its App. Invaluable push notification messaging function that enables the merchant to directly send personalized offers after a relationship has been established.

What technology does Twism already have?

Twism already exists in a cloud-based loyalty system marketplace platform called Barkback, with consumers and merchants.

What sets the Twism team apart?

The Twism team and advisory board are composed of proven entrepreneurs, accomplished technology developers, and high-level retail marketing experts. In addition, the founding team has already built an established customer loyalty platform and CRM business with an existing merchant and user base. The team plans on quickly converting all assets onto the blockchain to garner an immediate advantage for marketplace adoption.

It's a virtual coin world. Are you in?