NEW YORK, NY - 
(NewMediaWire) - May 04, 2023 - Society Pass Incorporated ("SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces the release of its universal, open-loop loyalty application, Society Pass, for its 3.3 million registered consumers and 650,000 registered merchants on the Society Pass ecosystem to buy, earn and redeem loyalty points, Society Points.
Consumers and merchants can now download Society Pass either on:
● Apple Store or
● Google Play.
With Covid-19 restrictions being lifted throughout SEA, merchants are increasingly using loyalty programs to competitively differentiate themselves and drive digital transformation for their businesses. MarketsandMarkets forecasts that the global loyalty management market size to grow from US$8.6 billion in 2021 to US$18.2 billion in 2026. SoPa’ multi-brand ecosystem allows e-commerce consumers to purchase goods and services, earn and redeem loyalty points, and refer friends with frictionless ease at numerous types of retailers, whilst facilitating a unified approach to customer rewards and incentives for merchants.
Rokas Sidlauskas, Chief Marketing Officer of SoPa, comments, “The Society Pass loyalty platform creates long lasting customer loyalty via rewards and incentives, replaces cash discounting, and generates additional revenues for merchants. By designing personalised offers and experiences, we make the shopping experience even more rewarding across our family of brands, whether it is purchasing clothes on the Leflair fashion marketplace to buying airline tickets/hotel rooms on the NusaTrip travel platform to redeeming e-sim services on the Gorilla Network telecoms app. Our business strategy encourages cross-vertical shopping for our registered consumers and registered merchants in the SoPa ecosystem. In essence, Society Points means the more our customers buy from merchants, the more rewards they will get, and the more revenue generation for our merchants. Our platform encourages continuous consumer engagement with brands, thereby increasing conversions.”
Mr. Sidlauskas adds, “We look forward to formally launching Society Pass at our product launch party in Singapore on 28 June 2023.”
Society Pass/Society Points cover 3.3 registered consumers and 650,000 registered merchants in Vietnam, Indonesia, Philippines, Singapore and Thailand. Users on the lifestyle, f&b delivery, telecoms, and travel verticals can pay for goods and services in-store, in-app or online. Society Pass’ digital wallet allows users to pay for goods and services by scanning QR Codes and making payments via credit card, debit card, or Society Points. SoPa provides an easy and convenient online e-commerce shopping experience, with a single UI/UX that integrates with all the businesses within its ecosystem.
Howie Ng, Chief Technology Officer of SoPa, explains the Society Pass technology platform, “We designed a best-in-class user interface supported by fully integrated backend infrastructure to kickstart a virtuous cycle of revenue generation and loyalty creation in SEA. Our smooth registration process allows consumers to redeem points for coupons, refer friends, earn SOPA points, view wallet balance, change your profile and settings, purchase SOPA points, store multiple credit cards, and settle purchases in real-time. As we build out our loyalty platform, the Society Pass loyalty app will offer a wide range of offers and reward options: gamification, badges, tiers, birthday surprises, and early access privileges.”
About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.
Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.
SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.
Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; and Mangan.ph, a leading local restaurant delivery service in Philippines.
For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.
Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media Contacts:
Rokas Sidlauskas
Chief Marketing Officer
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