Australian Startup Incent to Offer 20% Payback in Tokens on Fuel Purchases

Australian startup Incent seeks to provide a 20% payback in its native token, INCNT, on fuel purchases at United Petrol stations for a set period of time. 

Incent revealed in an official statement published on September 26 that participants should join on its platform and link their bank accounts to get the tokens. The company additionally asserts that the crypto asset being referred to is “Australia’s first cryptocurrency for all purchases at United Petrol stations.”

United Petrol purportedly owns more than 450 stations over Australia. Per the official statement, the framework’s benefit over old-style company-emitted points is that those tokens can’t be devalued or discontinued by the firm and that there are no plastic cards. Incent CEO Rob Wilson clarified:

“Giving consumers something of real value rather than points that can expire or only be redeemed under strict conditions is one of Incent’s key differences. […] But it’s also what goes on under the bonnet that makes it truly compelling. Once a user has synced their bank account, rewards are issued automatically. […] Consumers can literally save as they spend, seamlessly.”

Finally, the announcement clarifies that any client who signed up for the service and linked up their bank account will consequently get 20% of their fuel buy price at United Petrol into their Incent account as token rewards.

As previously reported, 63% of American consumers see blockchain tokens to be a simple type of payment.