Does my business pay one dollar ($) as a reward for Loyalty Coins?

No. Twism will never charge you for rewarding Coins. You will have full control over how you would like to reward your customers based on the Rewards Rate (percentage) you set in the Twism portal. (e.g. 10% back in Coins).

Each time one of your customers makes a purchase at your business, they will earn at least a fraction of a Coin, depending on how much they spend and the Rewards Rate you set. However, this does not mean that you are charged as a business each time a customer is rewarded Coins or redeems Coins.

Yes, it is true that 1 Coin = $1 in discount value. You want to keep this in mind while setting up your Loyalty Rewards Program.