Swapi is the exciting new digital wallet that is set to make Loyalty better for both brands and consumers - helping businesses to acquire new customers, and delighting fans with more choice, benefits and rewards.
What are the problems Swapi is solving?
All earn and burn Loyalty schemes hold financial liability on the bottom line, which causes a financial management headache and impacts results. The way businesses manage this liability is to force an expiration on points which causes a negative message to the customers. Swapi solves for this by encouraging speedier breakage and avoiding the messaging about expiry by encouraging customers to ‘swap’ instead. Customers gain by having all their Loyalty schemes digitally in one place and for the ability to swap rewards across brands.
Who is Swapi built for?
Anyone who engages with Loyalty! According to The Telegraph that’s 46.5m adults in the UK representing 92% of the UK adult population.
Investing in Swapi
Swapi is currently crowdfunding with Crowdcube - how will you spend the money raised?
We will use this investment to move from our prototype to building a full app (MVP) and help us execute the level of marketing and PR required for product launch.
How has Swapi reached a valuation of £4.3million?
We have a lead investor - who set the terms for the round - and have researched similar digital wallet capability and reviewed their valuation at a similar stage (Stocard/BINK).
What is Swapi's Revenue Diversification Plan?
In summary: Monetisation of data, a subscription service in Y2, Swapi Points™ and card-linked offers, market insights are some of the large scale opportunities to drive revenue.
Brand benefits of joining Swapi
Why would a brand give Swapi their loyalty points?
The key drivers for brands to join Swapi is to avoid a negative expiry message, reduce financial liability on their bottom line and to add an additional benefit to their loyalty scheme. In turn, increasing/improving customers' brand perception, speeding up breakage, and driving retention and acquisition of customers.
What types of brands are you currently talking to?
Swapi is currently receiving interest from those across grocery, health & beauty, hospitality, airlines, fuel, financial services and the luxury sector.
How will working with Swapi be profitable for brands?
For the redemption brand Swapi has the potential to be a highly effective acquisition tool for new customers as well as providing the opportunity to drive brand awareness and increased sales of an estimated 3-5% on average. For the brand that customers swap from, ultimately speeding up breakage of unspent loyalty liability will positively effect their bottom line as well as being a cost effective Loyalty scheme benefit to offer on top of core customer benefits.
How does Swapi's commercial model work?
Swapi charges commission on the value of liability that is swapped into and out of our app, with redemption partners paying for the rewards, benefiting as a lower cost acquisition/CPA opportunity.
Does the user lose any value or have to pay for Swapi?
No, Swapi will be free to download and participate in. They do not lose out on the value of their points and we hope because of how it works, brands will place high value on acquiring customers so, that in turn, the rewards are valuable and it’s a truly customer first experience.
Swapi's MVP launch and capabilities
How will Swapi be marketed?
Brands will be encouraged to can sell Swapi to their own customers as a scheme benefit (to offload their liability) and we will also promote the Swapi marketplace across social channels with a full PR schedule including relevant press articles.
Will Swapi buy and sell Loyalty points?
No, this method we believe is complex and not necessary. We make the transfer simpler between brands without the complexity of ‘trading points’ (which impacts the interaction of brands with low margins participating) we do not hold balances, we act as a conduit between brands to update balances and facilitate redemption.
Is Swapi just points for points?
Far from it, Swapi allows for redemption across partner offers and promotions, products, services, gift cards.
How can Swapi be used for gift cards?
We have plans to allow balances from gift cards to be swapped in the Swapi marketplace in the same way as Loyalty points. We hope that users will be able to swap gift cards for gift cards in other brands or for other offers within Swapi's marketplace.
What will Swapi's B2B integration capability look like?
Integration live from launch, giving brands who decide not to integrate within our app to take our API and use within their own ecosystem
Technical considerations for implementing Swapi
What technology stack does Swapi use?
Swapi is built on a Microsoft stack using enterprise grade platforms and code bases such as .net core and Azure SQL Server. Our user interfaces are powered by React.js framework, created and used by Facebook, and used primarily for its fast and scalable structure using the model view controller template. The mobile app benefits from the native version of this framework to give us access to all the device functionality of Android and iOS phones.
What standards are used on Swapi's API?
Swapi's API is RESTful API and uses the Swagger Framework for automated documentation, and is available to brands and marketplace users.
Is the Swapi platform scalable and secure?
Swapi's platform is built on a geo-located, serverless Azure cloud computing. This, combined with our microservices architecture, will ensure our system is robust and scalable enough to cope with global traffic demand. Security is integrated into every aspect of Azure, offering unique security advantages derived from global security intelligence, sophisticated customer-facing controls, and a secure hardened infrastructure.
How will Swapi's data be protected in a global use case?
Member and usage data will be held in the country of use to ensure we adhere to geographic legislation and keep data safe. Our consumer platforms will be accessed over encrypted endpoints as our API's use the OAUTH 2 authorisation framework with all data encrypted in transit and at rest.
What principles are used in the development of Swapi?
Our principles are very much centred around DevOps principles. DevOps is an agile development practice and mindset that uses agile principles (collaboration, communication, utilizing the right tools) to streamline software building, testing, and release. CI/CD is a DevOps tactic, which makes use of the right automated testing tools to implement agile development.
Does Swapi have the relevant technical expertise inhouse to support development?
Our CTO has designed, architected and built enterprise level business applications for the likes of Tesco Bank and Thomas Cook, consumer facing systems for TUI and Halfords and award-winning gift card fulfilment software using Lean methodologies. With over 20 years of software engineering experience, Swapi is in extremely good hands.
Future plans for Swapi
What is Swapi's Global Expansion Plan?
With no exchange in currency, Swapi has no limit to territory or boarder. We fully intend to globally expand and there is no reason users would not be able to exchange points between Australia and UK brands (for example), which we believe will be a very attractive proposition for global brands.
What does Swapi's roadmap for the future look like?
Swapi Points™ will be available from launch, where brands can award points as a benefit, with plans for card-linked offers, a comprehensive marketplace of redemption offers, user subscription service for exclusive personalised offers and more!
Is there a Swapi Exit Plan?
An exit is planned via an IPO in six years. It is predicted that there will be much interest in Swapi from an M&A standpoint as we will bring significant change to an industry enhancing offerings by presenting choice that is already demanded by consumers. With large volumes of traffic going through the platform, Swapi will be an invaluable first choice shopping channel for consumers in its own right, which will in turn would make the app attractive to many publishers and retailers.