New contactless smartcard loyalty schemes
In the UK, following successful trials over the past twelve months, e-payments provider sQuid has announced the nationwide launch of a contactless smart card-based loyalty platform, offering businesses of any size the ability to implement bespoke loyalty programmes.
Through a loyalty programme of their choice, both small and larger retailers can use the new platform to appeal to new customers as well as rewarding their existing customers.
Business owners can personalise the scheme to their own unique needs using own-branded sQuid cards, and then communicate with customers via a branded online portal.
sQuid's customised loyalty programmes can include cash back rewards, and rewards can be triggered either after a certain value of spending or a certain number of transactions.
sQuid programmes use contactless smart cards, and also provide merchants' customers with an online account (through which they can view their transactions and keep track of their loyalty rewards). Customers' details and balances of rewards are held in a central database (operated by sQuid), meaning that the cards are safe, and are not easily open to abuse or fraud.
sQuid launched its loyalty platform's trial in 2009 with Coffee Republic, led by then general manager, Aruna Withane. Since then, Withane has joined sQuid to head up its loyalty operations in the UK. According to Withane, "To successfully compete in a rapidly changing environment, retailers must get closer to customers and embrace new technologies which can not only reduce the cost of transactions but deliver new revenue streams too."
sQuid's pre-pay system uses multi-function smart cards that combine eMoney retail payments, ITSO (Transit) schemes, council smart card initiatives, and of course retail loyalty programmes. The cards can be used to make payments under the value of £10.