BenefittY, a Russian IT developer, has launched a platform for retailers to exchange buyers’ discounts and manage loyalty programs, Firrma.ru reported. The newsmaker opted not to disclose its investment in the project at this stage.

Unlike the current competition from discount aggregators that exist in the market, the new BenefittY project is said to enable users to gain from the shared use of loyalty cards, bonuses, coupon benefits, and special cash back offers.

The full-fledged BenefittY system was unveiled just a few months ago, and the platform currently accommodates around 3,500 customer loyalty programs and discounts from more than 700 companies and brand name owners.

Evgeny Titarenko, the CEO of BenefittY who founded and has invested in the company, has a history of working for a number of large government-owned or co-owned facilities and companies, such as the Moscow Research Institute of Radio Communications (as CEO), the Moscow elevator service provider Moslift (as CEO), and some others.