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- W129791981 abstract "AbstractInformation and Communication Technology is characterized by far-reaching platformisation that affects a wide range of online services. Platforms focalize principally on attracting, and locking-in, various stakeholders groups - and balancing interests of these - rather than on profit maximization in a single market. One option to reach this objective is the implementation of loyalty programs. But rather than a mere adoption of initial mechanisms, digital technology allows platforms to transform loyalty points in order to obtain Virtual Currency (VC), i.e. a tool to support multiple usage options granted to various users and utilizations throughout the value network. This paper enhances knowledge upon tendencies and trends of platform’s VC strategies and the corresponding impacts on the business model. It reveals how the implementation of a VC affects a platform’s gatekeeper position, the encouragement of loyalty of stakeholder groups and the opening of new income streams for the platform.KeywordsLoyalty schemesVirtual currencyBusiness modelsTwo-sided markets" @default.
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- W129791981 date "2014-01-01" @default.
- W129791981 modified "2023-09-23" @default.
- W129791981 title "When Loyalty Points Become Virtual Currencies: Transforming Business Models for Online Platforms" @default.
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- W129791981 doi "https://doi.org/10.1007/978-3-662-44788-8_8" @default.
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