'bounty' is the fastest growing rewards app in India that rewards you for just living your life! You just live your life in terms of eating out, shopping , visiting places etc and every time you walk into our partner places, the app's 'intelligent assist' feature automatically recognizes your location and alerts you to collect reward points. These reward points can be redeemed at our merchant partner's online sites or offline outlets with no conditions (these are equivalent to cash).
Interestingly, this technology works even without your GPS being on or when your 4G/3G is switched off too. These bounty points can be redeemed for a host of online or offline gift cards with no conditions. Say, if you have 500 bounty points, that's equivalent of Rs.500 in cash that can be spent for any of the brands' gift cards listed in the app. Think of us like a digital platform for offline businesses to acquire, engage and manage their consumer base in real-time with context. We have given out more than 10 million bounty points (1 bounty point=1 reward point) to consumers and continue to give exponentially
It was founded my Mr. Satish Medapati. Satish has about 11 years of experience across geos. He did coated steel sales, credit risk modeling, analytics-consulting, banking & service delivery before becoming an entrepreneur. He is passionate about solving problems that are integral to consumers through the use of mobile and data sciences. Anita heads the technology and has 18 years experience in building and managing large scale IT projects. Sandeep manages our partnerships and alliances while Amitesh looks after operations and customer service. We have a team of 20 people.
The idea behind this initiative and source of inspiration is - how knowing and understanding a simple everyday activity like eating or a weekly activity of visiting a mall or taking a cab can be so much more powerful in driving consumer experience that also results in businesses targeting with a context instead of spamming the consumer with offers/discounts . Being from an analytics and data sciences background, this problem of mapping offline consumer behavior driving value to consumers and businesses without friction on either side and executing it seamlessly has excited us and thus bounty was born.
World over reward programs have seen mixed responses based on how they have been executed. Businesses always have been willing to part with some rewards to their consumers as it gives them a power to retain and engage their consumers. However, most consumers (56%) opt-out of reward programs within the first few months due to the lack of flexibility and relevance of rewards. Consumers want a seamless experience not carrying plastic cards, telling phone numbers for getting points and need some significant value for the program. Overall, they feel it's a big hassle and the effort far outweighs the returns and here is where 'bounty' comes in. 'bounty' is a hassle-free , no-nonsense rewards program for consumers (not loyalty) with no conditions. Imagine you walk into a place and do nothing and rewards get credited into your app you see them, you redeem them all requiring just one tap from you -how much more convenient and seamless can it get ?This is the reason of our consumer traction too.
Our key differentiators are customer convenience and technology that makes it easier. Imagine you NOt doing anything particularly for bounty but the app actually automatically checking you in whenever you walk into a partner place and you just get to tap to collect your reward points Absolutely no hassle of searching for partner places, knowing what to do etc- its all taken care of by bounty and all you need is to tap once to collect whenever it pops up.
bounty shall be rewarding every activity of one's life and shall be celebrating your lifestyle by giving bounty points when you just live your life- eating, shopping , entertainment etc.So we shall be adding more and more places to reward the consumers within the existing cities and post that expansion of geographies