PRESS: Businessman kicks off service to pay for goods with likes

MOSCOW, Aug 29 (PRIME) -- A Russian businessman has received 3.5 million rubles from two business-angels and sold 1.5 million rubles of franchises for a FunPay.money loyalty program, which allows its participants to pay for goods and services with likes at partner-stores, business daily Vedomosti reported on Tuesday.

Vladimir Gladkikh from Arkhangelsk in Russia’s north-west said buyers get registered on the FunPay.money Web site and place on their pages a post with a hashtag of a firm, which should be the service’s partner, where they want to have a discount. Stores and restaurants set the size of a bonus for likes themselves, but basically every like is worth 1 ruble, told Vedomosti.

FunPay.money uses likes from social networks VKontakte, Facebook, Instagram, and Twitter. Buyers should show a barcode or a promotion code at cash registers of stores to enjoy bonuses.

The program has already established partnership with stores and restaurants in several cities, including Arkhangelsk and the Olympics city of Sochi. Partners pay a monthly subscription fee.

FunPay wants to open offices in Moscow and St. Petersburg and look for large partners. It also sells regional franchises for 135,000 rubles, Gladkikh said.

Sistema Venture Capital President Alexei Katkov said the project brings some benefit for owners of businesses, but is in a gray legal zone.

Spokeswoman for electronics seller M.Video, Valeria Andreyeva, said the service could be of interest for large retailers, and some clients who place posts and get likes would likely return to the stores, and brand perception will win from positive personified feedback in social networks.

Grocery chain Dixy likes the idea, its spokesman Vladimir Rusanov said. The chain has recently launched an accelerator for startups and is looking for those who create programs for loyalty and marketing.

FunPay.money follows the trends of gamification and common consumption, spokesman for handset retailer Svyaznoy, Sergei Tikhonov, said, adding that the idea’s audience comprises young people up to 25, who actively search for beneficial offers.

(58.5469 rubles – U.S. $1)

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