i dont know how far this platform will go but hopefully investors have done their job of risk assessment before buying their tokens. we dont know if they can indeed attract merchants that will use their app and be partner for these loyalty rewards. sometimes, the concept is great but implementation is another thing. and implementation stage is usually most projects failed.
much better if they already convinced one or two merchants that will collaborate on their app, before asking money from public investors.
Having partnership with major retail brands is not easy, i dont think they can pull it off specially those big and international brands that mention in the OP. as far as i know walmart has its own loyalty program and i dont see them using a 3rd party company for their rewards program distribution.
Maybe they can tapped small retail stores from north america to down south and im sure they can easily get atleast 1 in every 100 stores in those states.