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Loyalty Newswire
March 25, 2024

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By: Wise Marketer Staff |

Posted on March 25, 2024

This Week's News

The weekly Loyalty Newswire from The Wise Marketer delivers a curated list of the latest news and announcements from around the globe on all topics related to customer loyalty. We share news on a spectrum of topics, all with the intention of giving you an “info boost” to start your week.

The Loyalty Newswire makes it simple for busy professionals (that means YOU) to quickly digest important industry news and to *maybe even* enable you to star in your next big meeting.

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Rewards startup Fetch taps private credit boom, raising $50 million from Morgan Stanley 

Fetch has raised $50 million in debt from funds managed by Morgan Stanley (MS.N). This funding came after Fetch turned profitable for the first time in the fourth quarter of 2023. It shows how private credit, which has seen a boom on Wall Street, has become more accessible to late-stage venture capital-backed startups as they turn their focus to profitability. Fetch achieved profitability in Q4'23 as the company continued to grow at a rapid rate despite challenging economic conditions. The official press release included a comment from Wes Schroll, CEO & Founder "Fetch is transforming the way brands and consumers connect and solving the biggest problems in advertising … this financing will allow us to innovate faster and supercharge our ability to bring our platform to more brands and more households."

Amazon chooses Stripe to power payments for Just Walk Out technology in Australia and Canada

Stripe announced an expansion of its Amazon partnership by powering payments for retailers using Just Walk Out technology in Australia and Canada. Eileen O’Mara, chief revenue officer at Stripe commented in the press release “The only thing better than a speedy checkout is no checkout at all. 

I’m thrilled that Stripe is powering Amazon’s Just Walk Out technology payments,” said. “With Stripe Terminal and Connect, merchants using Just Walk Out technology will benefit from the same reliability that ensures millions of successful transactions on Amazon.”

IHG taps into Fan Loyalty with German football club RB Leipzig

IHG Hotels & Resorts has launched new and unforgettable experiences for its IHG One Rewards members with an ongoing partnership with German football club RB Leipzig. The partnership puts IHG One Rewards members who are football fans at the heart of the action by offering once-in-a-lifetime experiences throughout the season more choice and more rewards. 

IHG invites IHG One Rewards members to redeem and bid their loyalty points on exclusive VIP packages for RB Leipzig games – granting access to exciting matches with numerous extras and behind-the-scenes glimpses.

SocialTwist announces new Social Content Aggregation solution

SocialTwist, Inc., a social marketing technology provider that drives social referral programs for over 50 of the Fortune 500 brands, announced a new addition to its customer engagement platform with the introduction of a Social Content Aggregation solution. Social Content Aggregation enables companies to pull together all of their content from social media platforms, including blogs and user-generated content (UGC), into a "social wall" and repurpose it on multiple sites to increase consumer engagement.

Airports adopting AI and Gamification techniques to improve the journey from drop-off to boarding

Gamification and Social Features in airports can be powerful tools to enhance the travel day experience. Here’s an example of how the tools can be used to learn passenger flying patterns and use that information to provide relevant rewards. Apart from providing entertainment, AI-driven data can also be leveraged to gain insights into the user’s behavior and improve customer service. While rewards and perks may never fully offset the dread of a flight delay, it can help to ease the pain.

Credit card surcharges are becoming more prevalent, what are the outcomes?

If you’ve been paying attention to the receipt for your latest restaurant visit, you may have noticed an unlabeled surcharge on the bill. It will be the equivalent of three percent and if you have the courage to ask your server, they will tell you that it is a credit card surcharge. As businesses increasingly tack on fees for paying with credit cards, many are asking if it’s time to switch to cash. According to this Visa guideline, surcharges are legal but are suggested to be applied with caution. With too many loyalty programs offering a 1-2 percent effective rebate, the offer of a three percent “discount” for paying with cash is suddenly a competitor for a loyalty program. Let us know your thoughts on this by adding to this conversation.

Decentralized finance (DeFi) connecting the digital and physical worlds with a new Debit Card

Decentralized finance (DeFi) exists outside the regular financial system’s embrace. Its potential for innovation is frequently obscured by its complexity, making it an area understood so far just by those deeply involved in the crypto space. DeFi offers anonymity and worldwide accessibility but falls short in user experience and broader application in daily life. Xuirin Finance has introduced a DeFi debit card to connect decentralized finance with everyday spending habits.

Short Takes, Big News

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