Miconex is a purpose-driven company that collaborates with businesses in cities and towns to increase the amount of money spent locally.
Miconex was a pioneer in utilizing both local currencies and payment-linked loyalty strategies in this industry. Its programs are intended "to lock in money for local businesses and stimulate additional economic activity." Miconex was a pioneer in using local currencies and payment-linked loyalty solutions in this industry.
The mission of Miconex is straightforward: to provide communities, whether they are towns, cities, downtowns, or organizations, with a tangible means to keep spending in their local region.
This will, in turn, provide crucial support for local businesses of all shapes and sizes. Customers will find it not only easy but also desirable to purchase locally and faithfully, thanks to Miconex, which will contribute to developing central business districts and high streets worldwide.
Start of Miconex
Miconex initiated the first city-wide gift card program in the United Kingdom in 2015 with the launch of Town & City Gift Cards. Town & City Gift Cards are more than just gift cards; they enable communities to build their local currency with various use cases, including consumer sales, staff awards, and programs that distribute money.
Through innovation, dedication, and an approach that thinks ahead, the Town & City Gift Card brand has grown from 1 to 100 programs in just six years in the United Kingdom and Ireland.
These programs include the Scottish government-backed Scotland Loves Local Gift Cards for every local authority in Scotland and Downtown Gift Card programs in Canada and the United States.
Mi Rewards
Miconex introduced the digital customer loyalty program known as Mi Rewards in Perth in 2018 (1). Mi Incentives is a payment card-connected loyalty scheme that provides customers with rewards when they use linked debit or credit cards in participating local businesses in their town or city.
This assists businesses in finding a solution to the problem of maintaining the loyalty of their client base.
The first locations in the United Kingdom to implement a place-based digital e-card gifting technology developed by Scottish FinTech are Sunderland, Watford, Gloucester, Malmesbury, Perth, Scarborough, Wimbledon, Ipswich, Swansea, Worthing, Arran, Glasgow, Aberdeen, Bradford, Edinburgh, and Colchester.
Other locations in the United Kingdom to follow suit include Scarborough, Wimbledon, Ipswich, and Wimbledon.
Benefits of Miconex Gift Cards
The technology enables the municipalities to have their digital gift card, which can be used through the Mastercard network, other digital wallet services like Apple Pay and Google Pay, and a brand-new app called Love Local.
Many of Miconex's existing physical gift card programs provide a digital e-card as an extra choice for clients. One such program is Sunderland, which released the Sunderland Gift Card in 2020. Sunderland is one of the many Miconex-issued physical gift card programs.
Miconex awarded the Business of the Year Award
Recently, during the ceremony held by the Gift Card and Voucher Association, the company Miconex was honored for its role in the creation of the Perth Card and other gift card programs across the United Kingdom and the United States. (1)
The company was honored at the ceremony held by the Gift Card and Voucher Association on September 14 at The Landmark in London was the one that was responsible for the creation of the Perth Card as well as other gift card programs around the UK and in the US.
The recognition of Miconex was motivated by the company's desire to help develop local economies and support local businesses.
Miconex's managing director, Colin Munro, and Miconex's chief operating officer, Leigh Brown, were both surprised and honored to receive the prize. Munro described the experience as "both a surprise and an honor."
In his words, "to receive the Small to Medium Business of the Year award from the GCVA, an organization which is a positive force within the gift card industry and that we hold the greatest respect for, is a proud moment for us.
"It has been a time of huge growth for Miconex, with significant expansion and a number of ambitious and exciting projects.
"Our focus remains on delivering initiatives worldwide which lock in money for businesses, increase footfall and drive local spend, and our thanks go to our places, partners, people and customers"
Scotland Local Gift Card
Scotland Loves Local Gift Card is a part of the larger Scotland Loves Local campaign that STP is running. This campaign is designed to encourage people in Scotland to support local high-street businesses and think locally first.
August 2022 saw the beginning of the allocation of Scotland Loves Local Glasgow Gift Cards, going to follow fundraising from Glasgow City Council to distribute the gift voucher to low-income families in the city. To date, 85,000 cards have been distributed.
The card was provided to low-income families inside the metropolitan area to kick-start economic growth and assist low-income enterprises. Miconex's distribution of the gift cards was the first step in Miconex's plan to provide the gift card.
With Glasgow companies, expenditures totaling more than £3.5 million have already been made.
As stated earlier, the Miconex Perth Gift Card was the company's first local gift card. It was released in 2015 utilizing a format that did not charge fees to participating companies.
After seven years since its inception, the Town and City Gift Card programs offered by Miconex are now operational in over 150 locations across the United Kingdom, Ireland, Canada, and the United States.
Miconex programs have been implemented in over 10,000 local establishments, and the company has invested over £25 million in these enterprises to this point.
Conclusion
If you have a business community and want to increase the spending of people in your community, you can consider the various gift cards offered by Miconex. It is a decent idea to help boost the local economies.
