Will The LYKA App Return? Hoping That The Long Wait Will Soon Be Over!

Last July 23, 2021, The Bangko Sentral ng Pilipinas (BSP) has ordered social media platform LYKA to suspend its operations and invited the company to register as an operator of payment system (OPS). LYKA, which is very popular in the Philippines, is an app that allowed users to earn LYKA GEMS or gift cards in electronic mode whenever they post, shared, and liked other users’ posts. These GEMS are then used to buy goods available in the app’s LYKA Mall or in establishments where LYKA GEMS are allowed.

LYKA became popular because of the numerous celebrities and social media personalities who have attested to the fact that they were able to buy many items by using their LYKA GEMS as payment. According to the BSP, Lyka should register based on its features, as specified in Republic Act No. 11127 or the National Payment Systems Act.

LYKA, on its part, has announced that Digital Spring Marketing and Advertising, the operator and marketing arm of LYKA in the Philippines, is continuously communicating with BSP regarding its OPS application. It noted that the BSP issued an OPS provisional certificate of registration to Digital Spring. More recently, the BSP said that LYKA, not Digital Spring Marketing and Advertising Inc. (DS), should register as an OPS. That’s why LYKA has announced last October that it will register with the BSP as an OPS. #LYKABSPtalks

LYKA management has begun looking for a national head and the best support team for its Philippine operations in order to carry out the company’s ambitions for the country. It also promised to work closely with the central bank and other regulators to advance LYKA GEMs, the world’s first cashless and seamless social media gift card. LYKA currently has 10 million registered users in the Philippines.

I’m one of those 10 million users who have been enticed by a friend to register for a LYKA account. It’s really fun using it because I was rewarded with gems every time I posted something or liked another’s post. I’m quite determined to increase my gems so that I could use them to buy stuff at the LYKA Mall or any of the partner stores. I’m sure that it’s legit because my uncle used his gems to buy grocery at a supermarket in Bacolod. I hope that LYKA’s full operation especially their reward system and benefits will soon be restored #MissingLYKA. Using LYKA will enable users to earn by simply using the app as compared to other social media apps which earn from their users and their data. #comebackLYKA

Launched in 2018 here in the Philippines, LYKA includes Internet Community, Gift Giving and Receiving Method, Secure Chat, Unique Reward System, E-Commerce Platform, and many more.

LYKA’S Giftcard in Electronic Mode (GEM) is the 1st paperless, contactless and seamless social gift card in the world. They can be shared, exchanged for goods with partner stores, and can be collected to buy gifts from the LYKA Mall. You can also buy GEMS through the LYKA app. LYKA has over 10,000 partner merchants in the service, retail, food and automotive industries. Make sure that the merchant is accepting LYKA Gems and pay using the QR code system. Furthermore, a new way of giving gifts to your loved ones is by giving them GEMS.

Things I Like Company Limited (TIL), the owner of LYKA, plans to expand to other countries in Asia in 2021 and the rest of the world in the coming years.