Happy Monday! Here's what we're following this week:
- The United States Postal Service launches its first loyalty program nationwide
- HashCash extends blockchain-based loyalty and rewards platform to the retail industry
- 7-Eleven agrees to purchase Speedway gas stations for $21 billion to expand U.S. footprint
- Apple asks UK retail landlords to offer a "rent-free period" and temporarily reduce rent by up to 50%
- Virtual classes may slow retail traffic during the upcoming back-to-school shopping season
- CVS has partnered with PayPal and Venmo to bring contactless checkout to 8200 stores
- Apple acquires Mobeewave's technology which could possibly transform every iPhone into a mobile payment terminal.
- American and United release new tools to answer common questions posed by travelers
- Alibaba Group's Fliggy partners with Ascenda to broaden the rewards scope for its 300 million members
LOYALTY PROGRAM NEWS:
U.S. Postal Service Offers Its First Loyalty Program
Quotable: “In appreciation of its business customers, the U.S. Postal Service announces a USPS Loyalty Program designed to help smaller businesses. The program will launch nationally Aug. 1. Registered business users of USPS Click-N-Ship will earn credits by purchasing postal products they are already using for their shipping needs. Priority Mail and Priority Mail Express postage purchased online through Click-N-Ship will generate credits that can then be applied to future purchases of these products.”
HashCash Extends Blockchain Aid to Retail Industry for Smart Loyalty Program
Quotable: “Infused by the fundamental features of blockchain HashCash builds a highly intuitive and user-friendly application that acts as an engagement platform between retailers, brands, and consumers. The loyalty app makes it easy for customers to collect and redeem rewards without having to use punch cards. HashCash centralizes customer interactions creating a goldmine of data that offers key insights to the retailers helping them to improve their products, promotional strategy, and launch new products and services.”
RETAIL NEWS:
7-Eleven Owner to Buy Marathon Gas Stations for $21 Billion
Quotable: “Seven & i Holdings Co., the world’s largest convenience-store franchiser, agreed to buy Marathon Petroleum Corp.’s Speedway gas stations for $21 billion, betting that an expanded U.S. footprint will deliver growth amid the uncertainty of the pandemic. The transaction, to be paid in cash and partly financed using debt, will add about 3,900 stores to 9,800 locations operated by the retailer’s U.S.-based 7-Eleven unit, the Tokyo-based company said in a statement Monday.”
Apple asks UK retail landlords to cut rent by 50% and offer a ‘rent-free period’ due to COVID-19
Quotable: “Apple’s pitch, according to today’s report, is that if the landlords cut rent by as much as 50% and offer a “rent-free period,” Apple will extend its leases by several years. Landlords have a vested interest in keeping Apple has a tenant. Apple Stores regularly come in at the top in terms of retail profit-per-square-foot, and the foot traffic generated by Apple Stores is beneficial to the malls and other retailers.”
Back-to-school delays, virtual classes could deepen pain for some retailers, and be windfall for others
Quotable: “Some analysts predict that families will spend less as they watch their budgets or as home-schooling limits the need for a fresh wardrobe. Others say it will simply shake up the shopping list, adding more big-ticket items like laptops and tablets and shifting spending toward lower-priced casual wear like T-shirts and leggings instead of outfits intended to impress.”
PAYMENTS NEWS:
PayPal and Venmo QR Code checkout is coming to 8,200 CVS stores in Q4
Quotable: “The company announced this morning CVS will become the first nationwide retailer to allow customers to pay using either their PayPal or Venmo QR code at the register, without fees. The payment will pull from funds available in the customer’s existing account balance, bank account or from their debit or credit card, just as it would online. Venmo users will additionally have the option to pay with their Venmo Rewards.”
Apple Buys Startup to Challenge Square in Mobile Payments
Quotable: “Apple (NASDAQ:AAPL) has reportedly acquired a Canadian start-up with technology that could be used to turn every iPhone into a contactless payment acceptance device, directly challenging Square (NYSE:SQ), which is the leading provider of mobile payment hardware and software. Bloomberg says Apple is paying $100 million to buy Mobeewave, a maker of tech that allows mobile devices to accept in-person payments without additional hardware.”
TRAVEL NEWS:
American and United focusing on new tools to make travel easier right now
Quotable: “In June, American Airlines and United each made it easier to get help by adding new chat tools to their mobile apps. Now, the two airlines are making it easier to get common questions answered without even needing to chat with an agent. Some of the most common questions from travelers right now revolve around safety and travel restrictions and that’s exactly what American and United’s new tools focus on.”
Alibaba Group's Fliggy partners with Ascenda to enhance loyalty rewards for 300 million members
Quotable: “The partnership between Ascenda and Fliggy will cover loyalty programs of financial institutions and international airlines in China. Currently, Fliggy miles can be converted into miles of 3 airlines from various airline alliances, which marks Fliggy members' connection with members of Star Alliance, SkyTeam and Oneworld. Fliggy members now can enjoy the benefits and services of the three major airline alliances.”
Read last week's newswire if you missed it: Loyalty Newswire – July 27th, 2020
The Loyalty Newswire is compiled and edited by the staff at The Wise Marketer.
