SurgePays, Inc. (NASDAQ: SURG) (“SurgePays” or the “Company”), a wireless and fintech technology company connecting subprime and underserved consumers to essential mobile and financial services, today announced the launch of its stored value and loyalty platform, a fully customizable white label program available to merchants across its nationwide retail network.
The stored value platform enables merchants, ranging from single location operators to large retail chains, to offer branded gift cards, store credits, and loyalty programs directly to their customers. SurgePays will manage the full lifecycle of the program, including balance tracking, transaction processing, and program management, through its integrated point-of-sale platform.
By embedding stored value and loyalty functionality directly into the SurgePays point of sale platform, merchants can seamlessly deploy and manage their own branded programs without the cost or complexity typically associated with third party providers. The solution is designed to be flexible and scalable and supports a wide range of use cases including prepaid gift cards, store credit programs, promotional incentives, and loyalty-based rewards.
“Retailers are looking for new ways to increase revenue and build stronger relationships with their customers, and stored value and loyalty programs are proven tools to accomplish both,” said Derron Winfrey, President of Sales and Operations at SurgePays. “By integrating these capabilities directly into our point of sale platform, we are making it easier for merchants to launch and manage their own branded programs while increasing transaction volume and engagement at the store level. This is another step in making SurgePays an essential operating platform for the independent retailers we serve.”
The addition of stored value functionality should expand SurgePays’ role in daily merchant transactions and increase revenue opportunities per retail location. By enabling merchants to issue and manage branded stored value directly through the SurgePays platform, the Company will further embed its technology into core store operations, which should increase merchant retention, transaction volume, and platform revenue. Stored value programs also create opportunities for additional revenue through transaction fees, increased customer spend, reliability as a trusted partner, and higher engagement at the point of sale.
The stored value and loyalty platform complements SurgePays’ broader set of platform offerings designed to support its growing retail distribution network, including prepaid wireless services, financial services, and in store digital marketing. Together, these solutions create multiple revenue streams per location while strengthening merchant retention and increasing customer engagement at the point of sale.
