Colin Munro is the managing director of Miconex, the fintech behind the Town and City Gift Cards scheme.
1) What did it mean to your colleagues and clients to secure Best Use of Prepaid at the 2020 Incentive Awards?
The first Town and City Gift Card programme launched in Perth in 2015. Since then over £2 million has been spent through our local gift card schemes. In 2020, we introduced 17 new programmes, expanded into Ireland, and helped places to make local shopping a reality with impactful, measurable local gift card schemes. Winning Best Use of Prepaid at the 2020 Incentive Awards alongside EML was the culmination of five years’ hard work, from one programme in Scotland to over 60 right across the UK and Ireland. Each month, each year, we’ve been learning, improving and refining the Town and City Gift Cards programme, so we can better serve our places, clients and customers. Receiving the award was a proud moment for the entire Miconex team, and our clients too, who have chosen to invest in an innovative solution to locking in local spend, creating a circular economy and supporting local businesses.
2) What do you feel have been the business benefits of winning this award?
The Incentive Awards is the byword for the incentive industry, recognising the best technology in the sector, judged by experts in their fields. Winning the Best Use of Prepaid award in September 2020 helped to raise the profile of the Town and City Gift Cards programme. We were able to introduce the concept of supporting local to the industry as a whole, alongside the various use cases for local gift card schemes, from traditional consumer gifting to disbursement initiatives and employee incentives and rewards. Our places have seen strong success across a wide range of use cases, and winning the award provided us with a platform to engage with the industry, share our stories and begin the conversation of what can be achieved through local gift card programmes. Being able to say that you have an award winning programme is validation for us as a business, and reassuring for our partners.
3) What would you say to other companies that may be considering submitting a nomination for the Incentive Awards 2021?
Putting your business forward to be judged by your peers and industry experts in the Incentive Awards is often an acknowledgement of how far you have come as a business. It gives you the opportunity to reflect on past achievements, and reinforces where you want to go in the future. If you’re fortunate enough to win in the Incentive Awards 2021, you have that seal of approval from the incentive and reward industry, which you can use to further the expansion and development of your product, building awareness and understanding of what you offer. There’s no denying that winning an Incentive Award feels good, it’s great for the company but also for staff too, to see that their hard work and commitment reaps rewards. Entering the Incentive Awards is a worthwhile investment, claiming your place in the incentive and reward industry and positioning your company for the next exciting chapter in its journey.