ipoints and WebRewards merge
Internet-based loyalty programme provider, ipoints, has acquired WebRewards (www.webrewards.co.uk), the UK arm of webmiles AG ( a major German loyalty provider), creating the second largest multisector loyalty programme in the UK behind Air Miles. The combined company now manages over 700,000 member accounts, and works with more than 70 online and off-line companies including Halifax, Carphone WareHouse, LineOne, Kingfisher, bol.com and Selftrade.
The merger will boost ipoints income, and revenue projections for the full year have been raised, while projected cash break-even point has been bought forward to the third quarter of 2001.
European As part of the deal, a cooperation agreement with webmiles will give clients the opportunity to run major European loyalty programmes through the combined ipoints and webmiles network. According to Aaron O'Sullivan, ipoints' MD, the company now becomes the first UK loyalty programme to provide the opportunity of a European solution for its clients. Mark Read, of WebRewards, says: "The commercial partners of both businesses will benefit from an increased number of members and the opportunity to access 55 million consumers - nearly 60% of the EU's internet population."
ipoints is the UK's largest internet-based rewards programme with over 60 partners and 15 reward categories covering more than 200,000 items for members to choose from. The company recently launched the ipoints credit card backed by the UK bank, Halifax. Some 92% of ipoints members shop online in a year (compared to 30% of overall internet users). The scheme is flexible: retailers can buy points (10 points, worth GB£1.00 to the customer cost around £0.80 - £0.85). Vouchers can be given off-line and redeemed online, or electronic coupons can be given online and redeemed off-line.