Paying with Points: The New Way to Shop

Len Covello Breaks Down Engage People’s Game-Changing Technology Summary

Len Covello, CTO of Engage People, discusses his journey as a young entrepreneur and the evolution of Engage People's loyalty programs. He emphasizes the importance of confidence and resilience for aspiring tech entrepreneurs. Len also highlights the integration of technologies like AI and blockchain in loyalty programs, as well as the role of advanced payment options in bolstering customer retention. He explains how Engage People's Pay With Points solution removes friction and enhances customer engagement. Len shares his insights on the future of loyalty programs, including the rise of paid loyalty and the increasing importance of partnerships. He also discusses the challenges and opportunities in the global loyalty space and the evolving relationship between consumers, retailers, and financial institutions. Finally, Len shares his interests outside of technology and his typical day as CTO of Engage People.

Takeaways

• Confidence and resilience are key for aspiring tech entrepreneurs.
• AI and Machine Learning are currently revolutionizing loyalty programs.
• Advanced payment options play a crucial role in enhancing customer retention.
• Engage People's Pay With Points solution removes friction and improves customer engagement.
• The future of loyalty programs includes the rise of paid loyalty and increased partnerships.
• The global loyalty space faces challenges and opportunities, and the relationship between consumers, retailers, and financial institutions is evolving.

About Len

Len Covello, a lifelong entrepreneur and technology innovator, founded his first tech company at 18. As CTO of Engage People, he leads the development of transformative web-based applications, such as the 'Pay with Points' ecosystem, which integrates banks, retailers, and customers. His work has enabled the redemption of 1.4 billion points and expansion into major North American markets. Previously, Len co-founded Atomic Reach, raising over $10M and developing AI-driven content optimization technologies. A member of the Forbes Technology Council, Len holds patents in the payments field and continues to influence the loyalty and payments industry.

About Engage People

Engage People, a global technology provider, connects loyalty programs with payment systems and retailers, facilitating point payments directly at checkout. It reported significant growth in 2023, with a 68% increase in transactions and over 23.3 billion points redeemed. Based in Toronto, the company serves a network exceeding 53 million members worldwide.