Home » Yoyo makes bank card linked retail loyalty a reality, on and offline

Yoyo makes bank card linked retail loyalty a reality, on and offline

by LLT FINANCE REPORTER
8th Jun 21 8:08 am

Loyalty schemes have become big business in retail. Consumers now expect rewards, offers, and bonuses for their custom. But while many retailers now provide a seamless digital loyalty system, most high street stores lag behind. Two-step checkout processes with separate loyalty cards, and a system reliant on the memory of both customers and staff are both time-consuming and tedious. Yoyo’s bank card-linked loyalty system changes that, customers can now have the one tap payment experience they desire, while still being rewarded while they shop.

Transforming the typically inefficient checkout experience, Yoyo’s retail bank card-linked loyalty product enables customers to link their bank card in-app once, and then automatically earn loyalty at a merchant, every time they pay with the linked card. Immediately elevating customer experience, removing hassle and ensuring that rewards are never missed, while making sure that their in-store experience is as seamless and efficient as online.

How Yoyo works

Yoyo is a global SaaS loyalty and rewards provider, and has partnered with some of Europe’s largest acquirers, such as Adyen and Salt Pay, to lead the charge in launching bank card-linked loyalty. The future of frictionless loyalty and customer engagement lies in the simplicity of this technology, while keeping customer demands at the front and centre.

Through Yoyo’s dashboard and campaign management tools, merchants are able to drive higher transaction values, increase visit frequency and gain a multi-dimensional view of their customers, to nurture long-term loyalty and value creation.

While other brands have previously attempted to address this issue – notably Amazon Go, which eliminates the check-out step entirely by enabling customers to select items and exit the store, being automatically billed thereafter. These solutions require extensive software and hardware investment, and will potentially take years to become a widespread reality. Yoyo is available now and can be implemented effortlessly, without need for expensive hardware or infrastructure disruption.

Bevan Ducasse, CEO of Yoyo said, “Having been in the rewards and loyalty sector for the last decade, we believe bank card linked loyalty is one of the most significant breakthroughs of our journey, and will assist us in our mission to help merchants drive sales, while also providing their customers with the world’s most rewarding buying experience. ”

Adyen, a Dutch acquirer with over 303 billion Euros processed volume in 2020, and Salt Pay, an acquirer with an extensive Central European Footprint have already completed integrations with Yoyo and have now piloted bank card-linked loyalty in the Netherlands, Portugal, South Africa, Germany and Iceland.

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