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.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.
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 enrol 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.RainCheck plans to build the loyalty ledger based on Stellar network. Each time a consumer transfers their loyalty points for RAIN Tokens, the transaction will be recorded forever in the Stellar distributed ledger and will be synced to all anchors in the Stellar network. Consumers will be able to trace back all previous transactions recorded with RAIN Tokens. Through Stellar smart contracts, merchants can easily integrate into the decentralized loyalty ledger through Stellar Horizon API service. Merchants can define their own value and policy for loyalty point transfer through multi signature and so on.