Just like daily coupon sites are the hottest thing right now, it looks like the rewards-based transactions are (understandably) a close second.
Let’s face it, consumers are looking for the best deal in this economy and merchants need to provide these offers. This is why the Abheek Anand and Soham Mazumdar have jumped on the rewards bandwagon.
Ladies and Gentlemen, meet the hole punch of the 21st century: Tagtile, a sleek device helping identify loyal customers and provide them with rewards.
How Tagtile Works
Tagtile is for merchant-purchase but will benefit both merchants and customers. The purpose of the tool is to “Identify, Engage and Grow” as pointed out by their website.
All you need to do as a customer is download the free Tagtile App to start earning tags. When you see a business with a little Tagtile cube by the check out you just need to tap your phone to earn. You will also have the option to share your purchases through social networking sites like Facebook and Twitter.
The appeal for merchants is apparent, but what about check-in programs such as Foursquare and Groupon Now that already provide similar services without the need to purchase an outside converter.
The problem with Tagtile is its providing a temporary solution until near field communication (NFC) takes off. Once NFC is more widely accepted programs like how Google Wallet will allow users to make entire transactions with their cell phones and also earn rewards directly upon payment.
NFC is not expected to become the mainstream method of payments until mobile phone manufacturers, merchants, and consumers can sync together to adopt such advancing technology.
In a way, this could be a healthy position for the makers of Tagtile to be in. They are appealing to those that are not quite ready to chuck the old register, but still want to be on top of the changing market.