Latest news with #closedloop
Finextra
2 days ago
- Business
- Finextra
Why closed-loop payments are ideal for boosting loyalty: By Nikunj Gundaniya
Loyalty fails when it's disconnected from how people pay. Traditional loyalty programs are often built as afterthoughts. A separate sign-up. A separate app. A separate step. But it doesn't have to be like that, right? Because it's a disconnected experience for your customers. And that often leads to hesitation and confusion. What if loyalty can be tied to the payment? Because it's the one action every customer repeats. Every transaction is a moment to reinforce brand trust or lose it. Closed-loop payments make that possible. They don't just process a sale. They embed loyalty directly into the act of paying. That means no extra cards and no extra friction for your customers. Just the value that is delivered at the moment it matters most. There are multiple reasons why a closed-loop payment solution is a powerful tool to drive loyalty. Let's explore them one by one. Seamless loyalty integration at the point of payment Loyalty doesn't feel like a chore when it's embedded in the payment experience itself. That also means your customers don't need to swipe any extra card, enter a number, or remember to open a separate app. The moment they pay, they earn rewards. Then they are ready to redeem discounts. That's how closed-loop transactions create value. This simplicity drives behavior. When loyalty is automatic, it becomes invisible. And that's the goal for businesses like yours. Customers return not because they're trying to 'work the program,' but because it just works, and that too effortlessly. Remove friction from the buying journey and payment experience, and you will surely see higher engagement and better retention. Closed-loop payments do exactly that. When your customers realize that every payment they make provides some value in return, then they are likely to choose your business repeatedly. Encourages habitual spending and repeat visits There's a simple psychological effect at play when customers preload funds into a closed-loop wallet or card: they feel committed. It's like they've already paid. Now, they are just waiting to 'use' that, which gives them a strong reason to return. This stored value loop is powerful, especially for businesses built on repeat purchases like Cafés, fuel stations. transportation, local grocers, etc. Once customers load value into your branded payment system, coming back becomes the default choice. And because rewards accumulate automatically, repeat visits become habitual, not forced. Rich first-party data to power loyalty strategies Unlike open-loop systems, where transaction data is filtered through external providers, closed-loop payments keep the data within the issuing party (i.e., your business). That means you can know who your top customers are. How often they buy. What they buy. When they stop coming. With such data at your disposal, you can build real relationships, not one-size-fits-all campaigns. Besides, you can reward frequency, re-engage the quiet spenders, or tailor offers for high-value customers. With closed-loop payment systems, loyalty isn't a guessing game. It's personalized, dynamic, and built on actual behavior. Greater control over customer experience When you control the payment experience, you control the loyalty journey. Closed-loop prepaid cards or e-wallets give you full ownership, from branding and UX to how rewards are calculated and delivered. Want to create tiered benefits? Offer cashback based on cart value? Trigger rewards based on purchase streaks? You can. Whether it's an in-app wallet or a physical card, every interaction stays within your ecosystem. No third-party branding. No outside rules. Just your business, your experience, your customer. That kind of control builds stronger loyalty, because the experience is consistently yours. Lower costs & more value back to customers There's a financial logic to this as well. How? Because closed-loop payments cut out the middlemen. That means no interchange fees and no external transaction charges. It's only direct payments inside your business. That cost savings adds up when you consider that there are thousands of transactions involved every month. And you can reinvest this into better loyalty offers, without eating into your margins. Hence, instead of spending to operate a rewards program, you're using a more efficient payment system that funds the loyalty loop itself. It's sustainable, scalable, and smart. Use cases across industries Closed-loop payments fit any business where loyalty and repeat spend matter. Below are some examples where they work seamlessly: Retail : Drive frequency, push exclusive offers, and reward spend without outside platforms. Transportation & Mobility : Ideal for rides, rentals, and transit systems where speed and habit drive usage. QSR & Cafés : Preloaded wallets or cards keep lines moving and customers coming back. Education & Campus Services : Manage student spending, discounts, and access all in one system. Events & Hospitality : Deliver a fully branded guest experience, such as spending, rewards, and perks, all with a single branded card. Conclusion Loyalty shouldn't be something customers chase after. It should be smooth. It should be effortless. And that can happen when it's built right into the payment experience. Closed-loop payments do exactly that. By tying rewards directly to transactions, they make every visit more valuable and every spend more meaningful. The result? Better data, stronger relationships, and higher retention. Whether through e-wallet apps, prepaid cards, or both, closed-loop payment solutions give your business the tools to turn payment into seamless loyalty. If you are looking to boost customer loyalty and retention, then you should definitely consider closed-loop payments.
Globe and Mail
13-05-2025
- Business
- Globe and Mail
Stardust Power Confirms No Industrial Wastewater Permit Required for Oklahoma Lithium Facility
GREENWICH, Conn., May 13, 2025 (GLOBE NEWSWIRE) -- Stardust Power Inc. ("Stardust Power" or the "Company"), an American developer of battery-grade lithium products, today announced a significant update to its permitting process. Following a determination process by the Oklahoma Department of Environmental Quality (ODEQ), the Company has confirmed that no industrial wastewater discharge permit will be required for its planned lithium processing facility in Muskogee, Oklahoma. This determination stems from Stardust Power's use of a closed-loop water system, which recycles water during the process and eliminates wastewater discharge to public treatment facilities or natural waterways. The Company's environmentally responsible design minimizes dependency on city or county water supply after the initial filling of the facility's tanks, while also significantly reducing wastewater generation. 'Not requiring a water permit speaks to how clean a facility we have designed,' said Roshan Pujari, CEO and Founder of Stardust Power. 'Our closed-loop system significantly reduces water needs and discharge volumes. Tanks are filled and reused in processing, minimizing the impact on municipal water systems. Unlike some operations that place heavy demands on local water resources, we are proud to be planning a sustainable solution that aligns with our commitment to environmental stewardship.' This design, which precludes the need for permitting delivers several meaningful advantages for Stardust Power's planned operations. First, it allows for accelerated project timelines, enabling the company to move efficiently through development and expansion phases. Additionally, it results in reduced regulatory compliance costs. Most importantly, the careful design work preserves municipal potable water for other uses within the community and minimizes costs associated with purchasing water. Stardust Power is making steady progress across other key permitting milestones. The Company has previously announced and secured the General Permit for Stormwater Discharges from Construction Activities from the Oklahoma Department of Environmental Quality, enabling construction activities to move forward. In support of this permit, Stardust Power has completed its Stormwater Pollution Prevention Plan (SWPPP), which incorporates best-in-class practices to responsibly manage stormwater and protect the surrounding environment. The company's Minor Source Air Permit has been deemed administratively complete by ODEQ and is now under technical review. Stardust Power's team remains actively engaged with regulators and is responding promptly to all information requests. Stardust Power is dedicated to sustainable lithium manufacturing through the use of lithium brines as its feedstock and by prioritizing water conservation. The Company integrates water stewardship into every stage of its operations, from exploration to production, meeting or exceeding all regulatory standards while maximizing water reuse and recycling to reduce freshwater demand. 'Water is a finite and shared resource,' Mr. Pujari added. 'We're not just building a processing facility; we're building a future-minded supply chain that supports clean energy without compromising community resources.' About Stardust Power Inc. Stardust Power is a developer of battery-grade lithium products designed to bolster America's energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium processing facility in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The Company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol 'SDST.' For more information, visit Stardust Power Contacts For Investors: Johanna Gonzalez For Media: Michael Thompson media@ Cautionary Note Regarding Forward-Looking Statements Certain statements in this press release constitute 'forward-looking statements.' Such forward-looking statements are often identified by words such as 'believe,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'plan,' 'predict,' 'forecasted,' 'projected,' 'potential,' 'seem,' 'future,' 'outlook,' and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the uncertainty of the projected financial information with respect to Stardust Power; risks related to the price of Stardust Power's securities, including volatility resulting from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power's business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. Stockholders and prospective investors should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Stardust Power from time to time with the SEC. Stockholders and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Stardust Power. Stardust Power expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Stardust Power with respect thereto or any change in events, conditions or circumstances on which any statement is based.
