How to Set Up Points Exchange Rate

Loyalty points act as a currency for customer retention. Just as you track acquisition costs (Ads, Marketing), it is essential to track the monetary value of the points you distribute to loyal customers.

Joy Loyalty allows you to set an Exchange Rate to automatically convert point balances into currency. This helps you visualize the actual financial liability of your loyalty program and manage your budget more effectively.

Important Note: This feature converts points to currency for Admin display only. It allows you to estimate the value of outstanding points. It does not change the redemption rules or how customers view their points on your store.

Configure the Exchange Rate

To start seeing the monetary value, you need to define the conversion rule (e.g., 100 Points = $1). You can configure this in two locations within the app admin:

Option 1: Go to Settings > General. Scroll down to the Points exchange rate section and click Edit. Enter your desired conversion rate and save.

Option 2: Directly from Customer Detail You can also set this up while viewing a specific customer. Go to Customers, select a profile, and look at the Balance card. Click the link "See monetary value". A popup will appear allowing you to input the exchange rate.

View Monetary Value in Customer Profiles

Once the exchange rate is configured, the system will apply this calculation globally.

When you view a Customer Detail page, the Balance card will prioritize showing the Currency Value (e.g., $55.93) instead of just the point count. This gives you an immediate understanding of that customer's available reward value.

• Toggle View: You can switch back to the point view by clicking "See point value".

• Automatic Updates: Any changes to the customer's points (earning or spending) will automatically update this monetary figure based on your set rate.

Frequently Asked Questions

Q: Does setting this exchange rate affect how customers see their points on my store? A: No. This exchange rate is for internal management purposes only. It helps you visualize the value of points within the Admin portal. Customers will still see their balance in "Points" on the storefront/widget.

Q: Does changing the exchange rate affect the customer's actual point balance? A: No. The exchange rate is purely a display calculation (visual conversion). The customer's actual point balance remains unchanged regardless of the rate you set.

Q: Can I set different exchange rates for different customers? A: No. The exchange rate is a global setting applied to all customers to ensure consistent financial tracking across your store.