Advocado partners NETS to integrate NETSPay with customer loyalty platform
SINGAPORE, 29 January 2019 – Customer loyalty platform Advocado announced today that it has partnered with payment service provider NETS to allow its users to pay for their purchases via NETSPay on its platform. From this month, all Advocado users can use NETSPay for their purchases and redeem their loyalty rewards on the platform at the same time. This move aims to make loyalty reward redemption and payment a seamless process for customers from start to finish.
Founded in Singapore in 2016, the start-up has over 500 merchants and 700 outlets across retail, F&B, beauty and wellness and gym and fitness verticals on its platform, and has a total of over 415,000 users thus far. Advocado also has a presence in Singapore, Thailand, Philippines, Hong Kong and Malaysia. Some merchants who will be participating in the NETSPay partnership include Pro Trim Hair Studio, EagleWings Loft, Ash & Char and Gamemartz.
CEO and co-founder Eric Chia said: “We are excited to deliver even more value to merchants and consumers with our services, and hope to make redeeming loyalty rewards and payment a breeze. With this partnership with NETSPay, we’re heartened and excited to reach out to even more Singaporeans, offering them seamless payments from start to end.”
How Advocado Works
Since Advocado’s platform can be accessed on any web browser, users can do away with the cumbersome loyalty cards taking up space in their wallets and useless applications taking up space on their phones. On the platform, users can view their loyalty rewards across all participating merchants and outlets at a glance, unlike typical loyalty reward programmes that cater to only brand. With the introduction of NETSPay on the platform, users can pay for their purchases directly from the app without needing to key in their card details. This partnership will also benefit merchants by streamlining their workflow and making the payment process smoother. Merchants do not need any special devices to get started on Advocado’s platform, and can register users with their mobile numbers.
Advocado also recently launched an automated bot that understands customer behaviour and helps merchants engage with their customers, with a pilot test that saw a successful revisit rate of 7-10%. According to Mailchimp data, typical email direct marketing (EDM) tactics across industries result in an average click rate of just 2.43%.
Looking to the future, the homegrown start-up, which has been fully self-funded since its inception, is looking to raise its Series A funding, as well as reach 10,000 outlets by 2020. The brand is also poised to launch a similar e-payment integration in Thailand later in 2019.
Chief Revenue Officer of Advocado Joval Gan said: “2019 is shaping up to be an exciting year for Advocado. With the support of our merchant partners, we’re looking forward to growing exponentially and reaching even more consumers in the Southeast Asia region. We see a lot of potential for small-to-medium sized entrepreneurs in the region, and will be working tirelessly to help them grow their customer retention programmes.”
Advocado is an enterprise-grade customer loyalty solution with SME-grade pricing. Most loyalty programs generally cost more in the long run and have mediocre results, as more and more consumers shy away from loyalty cards or apps.
Advocado is a start-up born in Singapore to empower businesses to engage their customers in an elegant way, at the same time generating real and tangible cashflow. With the ability to tailor each loyalty plan to the needs of the business, Advocado enables business, especially SMEs who may not have the financial muscle to create and sustain their own loyalty programmes, to boost revenue and reward customers. Even though many merchants may prefer to grow new customer markets, retaining their current pool of customers is equally, if not more important.
With over 500 merchants and 700 outlets Advocado sees a total of over 415,000 users. The brand also has presence in Singapore, Thailand, Philippines, Hong Kong and Malaysia, and has grown from just a two-member duo in 2016 to a team of 31 staff in the region. The company has been bootstrapped and self-sustaining from the beginning.
About Eric Chia
Eric is the co-founder and CEO of Advocado. He started his entrepreneurship journey in 1999, when he was a second-year undergraduate in NUS. 19 years and five startups later, Eric, now 41, believes in building strong business foundations, and focusing on solving real problems that matter while creating traction and revenue. Advocado’s concept first came to him way back in 2014. After recruiting rival-turned-co-founder Joval Gan, the duo launched Advocado in May 2016.
About Joval Gan
Joval is the co-founder and Chief Revenue Officer of Advocado, putting his many years of experience in building a sales force to practice. Prior to his friendship with Eric, the two were fierce competitors in their previous businesses. After he was approached by Eric with the idea that later became Advocado, the two joined forces and the start-up was founded in Singapore in May 2016. Before Advocado, Joval served as the Country Head of Appco Group in Hong Kong, and Managing Director of Dreamworks Advertising.