My Rewards wins giant Wyndham Destinations deal, expands reach into China, Japan and Indonesia
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My Rewards has scored a seriously major deal with Travel + Leisure Co’s Wyndham Destinations, allowing MRI to break open the giant new Asian markets including China, Japan and Indonesia.
Loyalty rewards platform My Rewards International (ASX:MRI) has won a major tourism client in Asia after signing up Wyndham Destinations Asia Pacific (WDAP).
The deal will see My Rewards develop and operate a customer rewards program for WDAP as part of the travel giant’s “Lifestyle by Wyndham” rewards program.
The “Lifestyle by Wyndham” has been launched to great success in Australia and New Zealand, with the roll-out to extend across China, Japan and Indonesia over the next year.
Through this program, customers of WDAP will be able to access and engage with My Rewards and transact on the My Rewards platform.
This will provide those customers with savings on everyday lifestyle purchases, while generating subscription and transactional income to My Rewards.
The 12-month rolling contract will also allow My Rewards to explore three new markets in the Asia Pacific, as it onboards new customers in China, Japan and Indonesia.
As a division of the legendary, NYSE-listed Travel + Leisure Co, WDAP is part of the world’s leading membership and leisure travel network that comprises a portfolio of nearly 20 resorts, travel clubs, and lifestyle travel brands.
WDAP already provides vacation ownership interests and consumer financing to approximately 60,000 customers in Club Wyndham South Asia-Pacific region.
“We are aggressively expanding our operations, and My Rewards is in advanced discussions with several companies keen to customise their employee engagement and customer loyalty programs as they emerge from the Covid-19 pandemic“ Executive Chairman, David Vinson said.
Ria Money Transfer
In its prospectus, My Rewards flagged a contract between itself and Ria Money Transfer, which will facilitate the initial rollout of My Rewards’ customer rewards platform to six countries in the Ria network.
Based in California, Ria MT specialises in global money remittances that serve over 30 million customers with an annual revenue of just over US$1bn.
While its domestic business continues to grow, My Rewards is executing its initial global rollout through Ria, starting with entry into the Malaysian market which will mark the first step in a broader push across the Asia-Pacific.
Part of the company’s expansion push is the soon to be launched e-commerce platform that will feature the My Rewards’ Digital Wallet.
The Digital Wallet allows My Rewards to monetise previously unavailable, in-store transactions through a QR-code payment system.
Once the technology is completed, the company will focus on onboarding merchants to the platform for deployment into brick-and-mortar store locations.
Following the acquisition of Perx, My Rewards is working towards the integration of Perx Rewards into the My Rewards business.
The integration work will include the onboarding of major clients such as Australia Post, Australian Catholic University, and Brightday.
Perx Rewards, which is trading as Infinite Rewards, has been operating for over 15 years, providing its 150,000 members with access to discounts on online retail, travel deals and exclusive access to events. It generated an annual revenue of $12.65m in FY21.
Since its incorporation in 2000, My Rewards has steadily grown to connect over 4.6 million members with more than 4,500 global, national and local suppliers.
Its clients include some of the biggest household brands in retail, financial services, and telecommunications, including Telstra, Ramsay Health, MLC and AIG.
This article was developed in collaboration with My Rewards, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.