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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- Visa, Mastercard are reported to be preparing to increase Credit-Card Fees
- Cooking channel Chefclub introduces a new loyalty program
- Wise Marketer Exclusive: Mando-Connect previews findings from “What the Brits Want from Loyalty Programmes” research
- Earn your Certified Loyalty Marketing Professional™ designation in London, 19-21 September
- The impact of Cruise Line loyalty programs is up for debate. Here are 10 reasons to play the field
- How much are you really helping your customers with your “convenience fee?”
- Submit your nomination for the 2023 Golden Loyalty Awards
- Mastercard and Ingiz partner to serve Egyptian youth segment with Digital Payments
- Payments Network Malaysia (PayNet)Merkle Launches UK’s Largest and First AI-Enabled Google Technology Practice
- How Points4Purpose Is Catalyzing Corporate Social Impact Through Purposeful Loyalty
- Short News Takes
- Jobs in Customer Loyalty
Visa, Mastercard are reported to be preparing to increase Credit-Card Fees
Over the last 10 years, total U.S. merchant card acceptance costs have increased by an average of 9% annually. To add to the steady increases, payments consulting firm CMSPI estimates that planned card fee increases from Mastercard and Visa could cost US retailers over $500 Million annually. The day following this report (30 August) Visa and Mastercard shares rose to their highest respective prices ever.
The report from CMSPI was cited in a Wall Street Journal article published on August 30 and predicts that changes could come into effect as early as October 2023. Industry communications points to further increases in both Card Present and Card Not Present consumer credit interchange fees, as well as sector-specific hikes for travel and supermarket merchants, increases in international fees, and more.
Cooking channel Chefclub introduces a new loyalty program
Chefclub is a cooking channel that broadcasts recipes on television and the internet. The channel was founded in 2016 by the Lang brothers, Thomas, Jonathan, and Axel, in Paris and you can read their founder’s story here. Chefclub's mission is to make cooking fun and accessible for young audiences. Chefclub videos generate billions of views per month and have 92 million followers on social media. Check out their YouTube channel here. Chefclub also has a website and mobile app that allows users to access, store, share, and comment on cooking recipes. The Chef's Club Loyalty Program is a tiered program that rewards members for more than just purchases. Each month members can maintain or raise reward levels through qualifying orders, referrals, and even social media posts.
Wise Marketer Exclusive: Mando-Connect previews findings from “What the Brits Want from Loyalty Programmes” research
Leading up the Loyalty Academy™ CLMP™ workshop in London 19-21 September, Mando-Connect is sharing updates from the Mando-Connect and YouGov research project “What the Brits Want From Loyalty Programmes” exclusively with The Wise Marketer. Data indicates that 74% of Brits think loyalty programmes are a terrific way for brands to reward their customers, up 4% from the 2022 report. Additionally, 53% think all brands should offer loyalty programmes, also up 4% from 2022. Upwards data trends appear to align with the inflationary environment and often challenging economic conditions prevalent in the UK in 2023. To get the full set of results, register for the London Workshop and check out Mando Connect for more great white papers and loyalty insight on the British and European markets.
Earn your Certified Loyalty Marketing Professional™ designation in London, 19-21 September
The Loyalty Academy™ and Zenith Marketing are hosting the first CLMP™ workshop in the UK, scheduled 19-21 September in London. Epsilon is the premier sponsor for the event. Mike Capizzi, Dean of the Loyalty Academy, will be leading the workshop. Don’t miss the opportunity to network with your peers as you earn this valuable certification to accelerate your career in loyalty and digital marketing. Epsilon is a dedicated supporter of professional loyalty marketing education and has more CLMP™s on staff than any other company in the world. For more information visit Epsilon here and go here to register for the workshop.
The impact of Cruise Line loyalty programs is up for debate. Here are 10 reasons to play the field
There are a lot of cruise lines with loyalty programs. Carnival, Celebrity, Disney, Holland American, MSC, Norwegian, Princess, and Royal Caribbean all have them. You can learn about each one here. We would like to think that each one has its advantages and creates positive results for the brand. But this article, “10 Reasons I’d Rather Cruise on Multiple Cruise Lines Than Stay Loyal to Just One” raises valid points about why the author – and probably many more consumers – finds cruise line loyalty to be a nice to have but not necessarily something that breaks the tie towards a purchase decision.
While the author supports “any reader who chooses to be loyal to one,” their conclusion is that loyalty is not worth it in this segment. The article cites a social media survey which asked, “Are you loyal to one cruise line or do you choose multiple cruise lines?.” The survey found that 40.4% chose to cruise on just one line. Almost 80% said they would choose to sail on 3 cruise lines or fewer. Check out the ten points the author cites to support their opinion. Pay particular attention to numbers 3 and 4. Of the 10 reasons cited, only 2 can be easily impacted by a loyalty program. Something to consider.
How much are you really helping your customers with your “convenience fee?”
Daily life as a consumer brings us in touch with many brand experiences that cause us to pause. No matter the case you wish to make in support of technology created to make our lives easier, there is a never ending need to maintain a balance between convenience, time savings, and the perception that, as a customer, you have been unknowingly recruited as an unpaid member of the brand’s workforce. Tableside checkout at a restaurant using a wireless Toast terminal is convenient and protects against fraud. Forced self-checkout at Lowe’s and Home Depot feels like an intrusion on personal choice.
When it comes to the convenience fee, an increasing number of services that were previously provided free from your favorite brand or retailer are now being unbundled and delivered with a nominal fee attached. The big banks used to offer an incentive to choose paperless statements. Now, many have flipped to charge a fee if you don’t make the choice to go digital. As usual, no one says it better than Seth Godin and his take on the Convenience Fee here is worth a minute (its super short) of your time to read.
Submit your nomination for the 2023 Golden Loyalty Awards
The Loyalty and Awards event is scheduled for 9-11 October in Rio de Janeiro. Not only is this the premier event for the travel loyalty industry, but it is the site of the Golden Loyalty Awards. The gala ceremony will be on 10 October, and you can submit your nominations until 1 September 2023.
This is a fantastic opportunity to associate your company with the best in the business globally at the Gala Dinner. Submit nominations here and please visit here for registration information. Award sponsorships are still available, giving you the potential to get on-stage exposure.
Mastercard and Ingiz partner to serve Egyptian youth segment with Digital Payments
Mastercard and Ingiz announced a partnership on August 27, 2023, to launch a digital payments app in Egypt. The app is designed to increase financial literacy and inclusion among Egypt's youth. Ingiz is a family financial management start-up that offers prepaid cards for parents and their children to manage finances. The app includes gamified features to encourage young users to earn, save, and spend money. Parents also have non-invasive monitoring tools. The youth market segment in Egypt has remained largely untapped and underserved, the companies said in the official press release.
Payments Network Malaysia (PayNet)Merkle Launches UK’s Largest and First AI-Enabled Google Technology Practice
More Asian travelers to Malaysia will enjoy a seamless digital payment experience at over 1.8 million merchants across the country while Malaysian residents will be able to pay with e-wallets of their home country abroad, thanks to a MOU signed recently between Payments Network Malaysia Sdn Bhd (PayNet) and Ant Group. Payments Network Malaysia (PayNet) is the national payments network and central financial infrastructure for Malaysia. Alipay+ is developed by Ant Group, the owner and operator of Alipay, one of the world’s leading digital open platforms. Gary Yeoh, Chief Commercial Officer of PayNet, said: "This partnership between PayNet and Alipay+ is forged at a vital time when overseas travel and tourism have fully resumed … we do see the proliferation of seamless international payments at scale sooner than we think. It is just a matter of time."
How Points4Purpose Is Catalyzing Corporate Social Impact Through Purposeful Loyalty
Points4Purpose (P4P) is an innovative venture that's redefining the connection between corporate objectives and community advancement. It is a loyalty program that allows people to shop, save, and convert their cash back into a cash donation to their favorite cause. This is made possible through a robust card link-enabled customer engagement and loyalty platform, which has a proven history of boosting customer lifetime value. By offering personal choice and allowing people to support causes close to their hearts, P4P's motto, "Get More. Give More," encapsulates the core idea. Founded in Australia in 2019, P4P has now expanded its presence to the United States. Alongside its partners on the ground, P4P is poised for global growth, backed by its collaborations with payment card giants like Mastercard, Visa, and American Express.
Short News Takes
- The top four banks in India claim 75% share of the country’s credit card market offering more than 70 co-branded credit cards. Here’s a great overview of the top co-branded products in the market.
- OpenAI launches business version of ChatGPT that competes with Microsoft, the biggest investor in Open AI.
- GoTo has rolled out AI Chat Analysis, an AI-powered sentiment analysis and chat summary function within GoTo Connect’s Contact Center. The new feature will expand the level of data-driven insight available to customer service supervisors and analysts, resulting in a better understanding of customer interactions.
- BMO launches Mobile Wallet for Virtual Cards with Mastercard and Extend. BMO is the first global Mastercard issuer to offer contactless virtual cards through its cobranded Extend for BMO app.
- New Study Reveals Gen Z Consumer Patterns to Leverage in Web3 Advertising – a solid overview that offers a window into this generation’s buying habits and preferences in 2023
- Etihad Airways, the national airline of the United Arab Emirates, is launching an exclusive 300-edition expansion to its EY-ZERO1 non-fungible token (NFT) collection. 1.The latest edition is designed to resemble the sleek Boeing 787 Dreamliner featured in the “Mission: Impossible – Dead Reckoning Part One” movie.
A large financial services provider in the US is seeking a Loyalty Strategy Contractor for 20-30 hours a week. The person will be part of the team to create the development and optimization of customer loyalty, rewards and engagement strategies for clients and prospects. The candidate should be prepared to provide customer and industry insights, rewards best practices, thought leadership and expertise to clients to support and lead the development of comprehensive loyalty strategies supporting credit and non-credit loyalty programs. A bachelor’s degree is required or, in lieu of a degree, a high school diploma and 8+ years of work experience in business strategy development, loyalty strategy or customer experience.
Interested parties should contact BillH@TheWiseMarketer.com for more information.