• Mobile
  • Platform
  • Shopping

RainCheck 3/5 (1) - Exchange Aggregator

RainCheck was formed in November 2014 to enable online-to-offline (O2O) commerce. Created to influence and measure the high level of online product discovery/research and to connect those findings with the corresponding in-store sales transaction. We also offer card-linking where people can add offers, loyalty points or cash-back to any debit or credit payment card, replacing the loyalty card. Our award winning patent pending IP states that we can do this at SKU (Stock Keeping Unit) level, not just at the merchant level. The RainCheck Platform, when fully developed, will aim to provide a decentralised platform through which token holders will be able to manage and aggregate reward points...

Token sale starts in:

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3.0
Hype2.0
Security4.0
Team3.0
Vision3.0
  • Token: RAIN
  • Price: 1 RAIN = 0.04 USD
  • Country: Australia
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RainCheck was formed in November 2014 to enable online-to-offline (O2O) commerce. Created to influence and measure the high level of online product discovery/research and to connect those findings with the corresponding in-store sales transaction. We also offer card-linking where people can add offers, loyalty points or cash-back to any debit or credit payment card, replacing the loyalty card. Our award winning patent pending IP states that we can do this at SKU (Stock Keeping Unit) level, not just at the merchant level.

The RainCheck Platform, when fully developed, will aim to provide a decentralised platform through which token holders will be able to manage and aggregate reward points across multiple loyalty schemes. To enable this, RainCheck plans to provide consumers with the option to combine reward points from multiple loyalty schemes into one digital unit, the RAIN Token.

Loyalty, a Problem

Worth Solving Almost 70% of shoppers globally belong to a loyalty program1 , yet most people, although accumulating these reward and/or loyalty points, seem to hardly use them. The main reason being that they can never accumulate enough points required to exchange for a worthwhile reward and when they do, it is difficult to achieve – like a seat or class upgrade with an airline2 . Many loyalty programs and coalitions have major issues with massive accumulations of points sitting on their balance sheets as liabilities. These points are viewed as money that is owed to people, sometimes this is in the hundreds of millions of dollars. Both display clear problems that are on each side of the equation, for the consumer and the brand loyalty program. Onboarding consumers to a loyalty program in the digital age is a lot easier and faster than ever, but there is often a large gap between the number of programs in which shoppers are enrolled and the number in which they actively participate3 . Make no mistake, loyalty programs are intended to ultimately increase a retailer’s share of the consumer’s wallet. While two-thirds of global respondents who participate in loyalty programs (67%) somewhat, or strongly agree, that they join these programs only to get free products or discounts4. The advent of digital channels opens up loyalty programs to be personalised for the consumer through the use of mobile apps, email and in-store interaction. This allows the loyalty program to be more customized for each member of the program and influence repeat purchase behaviour. Financial rewards are the most highly-valued loyalty program benefits for members of all ages5. But product discounts, cash back or rebates are rated higher by older respondents than by their younger counterparts, where personal offers and products are seen as a benefit.

The Solution

The RainCheck Platform, utilising the distributed ledger technology will enable people to earn loyalty and reward points in a seamless way from any brand, and in the future, this may also include allowing the sharing of loyalty and rewards at unique values using smart contracts from any organization, while maintaining their stored value. Introducing the RAIN Token – the RainCheck platform token.
The RAIN Token has been created to carry out a transfer mechanism on the RainCheck Commerce Platform. This token is based on the Stellar protocol, which was specially designed to enable micro-payments that can handle very fast transactions at very low cost. Thanks to the micro-payments feature, RainCheck is able to monitor rewards points value available from organizations in real time, and thus inform consumers of the current value and the exact source of rewards in real-time. Once the RAIN Token features have been built and integrated, we see that the platform will create a two-sided loyalty and rewards marketplace, with retail brands on one side and shoppers on the other. Shoppers will be able to sign up and enroll their payment cards via the Wallet App or website, they then can join any retail brands loyalty program listed on the platform with one click People who receive or purchase RAIN Tokens will be able to trade these between loyalty programs and schemes. They also have the ability to trade them at any time on the exchanges that support the RAIN Token. Thanks to the features enabled by the StellarBlockchain, RAIN is compliant with existing financial regulations KYC (Know Your Customer) and AML (Anti Money Laundering) in both primary and secondary markets.

Team

Cameron Wall

Co-Founder & CEO

William Lin

Co-Founder & CTO

Peter Bremner

Chief Partnerships & Strategy Officer

David Henderson

Project Delivery Manager

Maddison Bremner

Marketing & Communication

Cathy Wang

Finance

Julius Zhang

Deep Learning

Wei Wang

Mobile & Web

Bin Wang

BlockChain & Big Data

Feng Yang

Mobile & Embedded

Yulia Repetska

Product Manager

Advisors

Enrico Tam

Technology Advisor

Laura Doonin

Digital Strategy and Innovation Advisor

Bob Lu

Technology Advisor

Mitchell Pham

Technology & Asian Market Advisor

Aaron Smith

Payment Strategy Advisor

Bill Kemmery

Finance Advisor

Lester Miller

IP Advisor

Danny Naidoo

Retail Technology Advisor

Gaurav Patni

Retail Technology Advisor

Leigh Flounders

Strategy & Market Advisor

Peter Knock

Retail Brand Advisor

Mani Amini

Security Advisor

Milestones

  • November, 2014
    RainCheck Was Born
  • 2015
    MVP Solution
  • 2016
    Platform Pilot
  • October, 2016
    IBM World Partner
  • 2017
    Won Global Awards
  • 2017
    Filed International Patent
  • 2017
    Platform Licensing Opens
  • March, 2018
    Payment Integration
  • April, 2018
    RAIN Token Designed
  • Begins August, 2018
    Token Pre-sale
  • Q4, 2018
    Token Public Sale
  • Q4, 2018
    Card-Linking Pilot AU
  • Q1, 2019
    Mobile Wallet Release
  • Q1, 2019
    LaaS Portal Beta
  • Q2, 2019
    Loyalty Ledger
  • Q4, 2019
    SKU-level Cash Back
  • Q2, 2020
    Payment Gateway

Token

  • Platform: Stellar
  • Price: 1 RAIN = 0.04 USD
  • Accepting: ETH, BTC, XLM
  • Token distribution: 35% - Distribution Pool 25% - Rewards Pool 15% - Strategic 10% - Community 5% - Team 5% - Bounty 3% - Option Pool 2% - Advisors
  • Soft cap: 6,000,000 USD
  • Hard cap: 12,000,000 USD

Proof Points
4/5

Legal entity

Registration Address: Rain-Check.IT Pty Ltd ABN 84 602 680 259 Level 9, 99 York Street, Sydney, NSW, 2000 AUSTRALIA

https://opencorporates.com/companies/au/602680259

Prehistory of project

No prehistory of project were found

Product or its MVP

Current shopping app details Getraincheck

Blockchain experience

Technology Advisor Bob Lu – Partner, Global Ecosystem at TrustNote

Technology & Asian Market Advisor Mitchell Pham – Co-Founder at SLS.TECH , LINA

Strategy & Market Advisor Leigh Flounders – Advisor at SLS.TECH , LINA

Escrow

No escrow information were found

Comments

Update 24/10/2018

Media

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