All-you-can-fly membership air travel company Surf Air has launched Voy, a new blockchain-powered loyalty platform for travel rewards.
Voy targets the travel sector, with a primary focus on the 83% of the industry that comprises small businesses that typically cannot afford to implement such a loyalty program. Voy aims to assist companies that are not large enough to afford to build and manage their own points-based loyalty programs. The loyalty platform can be utilized by travel companies of all sizes, including hotels, restaurants, car rentals and airport lounges.
Sudhin Shahani, CEO of Surf Air and Voy, said, “Rewards programs are a perfect use case for blockchain. A rewards program essentially is a combination of a currency and a simple set of business rules that can be coded into a smart contract and we are building Voy to disrupt the global travel rewards program market with an initial focus on complementary premium brands to ours, many of whom we already work with.
“Our Voy token, coupled with our Voy rewards application layer as the loyalty program builder, will make it easy for brands to set up their own programs.”
Voy will launch for Surf Air’s members this summer both as a payment method and a rewards program. In addition to private travel, Surf Air memberships at higher tiers can include travel services from a wide range of partners ranging from air partners like Blade and JetClass to Surf Air-prefered hotel partners like the Dorchester collection, the Waldorf Astoria and many others.
Richard Jordan, president of Voy, added, “By harnessing the power of the blockchain, Voy’s platform will enable partner companies to rapidly add and maintain loyalty partnerships without adding complexity to their programs.
“While blockchain is best known as the technology behind Bitcoin, it is simply a mechanism for creating an immutable, decentralized ledger of transactions, shared across a network of participants.
“This removes the need for explicit trust-based relationships between all parties in the loyalty ecosystem and allows even small companies to have programs that scale tremendously.
“The blockchain lets Voy empower businesses to break out of the old loyalty program mold, of narrowly defined one-size-fits-all programs and limited redemption options.”