The points illusion
Points systems are designed around breakage — the assumption that a large fraction of earned rewards will never be redeemed. That's not loyalty. That's a debt you're hoping the customer forgets.
Customers know. Points don't build trust; they build resentment. Every dashboard you've seen with declining monthly-active loyalty users is telling you the same thing.
What IP Cash does differently
IP Cash is real. It spends like cash at any participating merchant. It doesn't expire. It doesn't convert. There's no dashboard the customer has to open.
That's why redemption rates on IP Cash are 3–5x traditional points systems — and why merchant NPS runs higher too.