- 29 October 2021 19:15
IncentiaPay secures two strategic partners for its platform data and campaign capability
Incentia Pay (ASX:INP) has secured two new platform partnerships with Seven West Media (ASX:SWM) and Leisurecom Group to accelerate growth in Australia by using the data and platform flexibility of its offers and rewards marketplace.
The company, which operates the Entertainment-branded subsidiaries to provide an offers and rewards marketplace, which connects merchants with consumers seeking entertainment, lifestyle and leisure experiences, announced the partnership in its latest quarterly report to the ASX today.
The first partnership of its type in Australia between a media company’s subscriber base and an offers and rewards marketplace, the Seven West Media partnership will use IncentiaPay’s platform to create an exclusive community for 7Plus members to access a diverse range of rewards, offers, deals, and experiences through a new mobile application, 7Plus Dining.
The partnership is expected to drive loyalty and engagement with the 10 million users who have downloaded the 7Plus app, providing them with access to IncentiaPay’s more than 10,000 offers from nearly 16,000 merchant locations across 21 major cities, regional areas, and country towns in Australia.
The 7Plus Dining application launch will be rolled out in two stages. Phase one is a three-month proof of concept commencing 1 October 2021, where 5,000 7Plus members will have access to the 7Plus Dining app. The data obtained will be used to finalise the commercial agreement conditions for the planned second-phase rollout in early 2022. These are expected to include annual subscription, transaction, and platform revenue.
IncentiaPay also secured an agreement with Queensland-based travel services provider Leisurecom Group Pty Ltd. The deal will see Leisurecom Group enhance its travel services by providing an all-in-one travel and entertainment offering. Customers who book through Leisurecom Group will be provided with a two-week subscription to IncentiaPay’s Entertainment-branded App providing them both travel and entertainment at discounted prices.
IncentiaPay will also use Leisurecom Group’s travel deals and offers to create a new platform under the brand entertainmenttravel.com that will enhance IncentiaPay’s current travel offering.
During the quarter revenue was $4.7 million, up 6.7 per cent on the previous corresponding period (pcp) with cash receipts of $5.9 million (up 7.3 per cent on pcp.
Member numbers on the B2C platform grew to about 160,000 as the company focused on supporting members through COVID-19 and reactivating memberships that expired with the view of transitioning the business back to pre-pandemic levels.
More than 6,500 Merchants as at September 30 as IncentiaPay pivoted its focus to its B2B/Enterprise business and growing white-label loyalty and rewards programs. The 6,500 Merchants operate in over 14,500 locations across Australia, New Zealand and Bali with more than 9,500 offers.
IncentiaPay Chief Executive Officer Henry Jones said, “During the quarter, we continued to support our existing B2C customer base through COVID-19 and continued to transition the business back to pre-COVID-19 levels. We also pivoted our focus towards the B2B/Enterprise business, resulting in the launch of a new partnership with SevenWest Media’s 7Plus post the quarter end. Going forward, we will continue to focus on normalising B2C revenues through improved value propositions, expanded sales channels and new membership lifecycle management. We will also continue to build our Merchant asset base and look to develop a new marketplace platform and card-linked offer to generate greater customer value and revenues.”