LONDON, Aug. 6, 2020 /PRNewswire/ --
- Reward and Visa have extended a successful partnership in the UK to deliver retail offers to more than 250m Visa cardholders across Europe
- The partnership will launch in Ireland later this year
- The partnership builds on Reward's already sizable cardholder portfolio, providing retailers with the transactional insight and banks with technological capabilities to deliver personalised card linked offers and Customer Engagement solutions at scale
- This supports Reward's strategic goal of giving £1bn in rewards to customers through bank Customer Engagement programmes by 2022
Reward, Europe's largest independent bank Engagement as a Service solution (EaaS), has today announced an extension of their partnership with Visa, having been selected to provide capabilities and content for Visa's issuer loyalty programmes across Europe.
Reward will be building on their successful UK partnership, where they currently provide Customer Engagement capabilities and content to support several of Visa's UK client programmes. These programmes provide customers with some of the richest retail offers in the market, across more than 30 of the UK's leading retailers, due to Reward's ability to deliver personalised card linked offers (PCLO).
As part of the partnership, Reward's Customer Engagement capabilities and merchant content will be distributed to a potential 250m+ customers across Visa's European banking partners - launching first in the Republic of Ireland in the second half of the year.
Gavin Dein, Reward's founder and CEO, says: "Our goal is to help design, build and operate the best Customer Engagement programmes in the world, around the world. We made a pledge in 2018 to give £1bn of rewards to customers by 2022. So far, we've given back over £740m and we hope this partnership with Visa will help us achieve that goal. In the last few years, we've made huge investments in anonymising, cleansing and aggregating transactional data so that our advanced algorithms can predict where consumers are likely to shop next. This combined with Visa's ability to promote these offers on a one-to-one basis, enables us to give consumers access to offers from the world's largest retailers. We call this process Personalised Card Linked Offers (PCLO) and it's an evolution from a one-size-fits-all Card Linked Offers (CLO) approach. We believe that PCLO is the future of performance marketing and excited to bring this Capability to Europe with Visa."
"With Reward's extensive retail network and tailored content, Visa cardholders can get access to relevant and personalised offers to spend and save at the retailers they prefer," said Kevin Akerman, Executive Director, Visa. "In partnership with our issuing banks, we are delighted to continue working with Reward to bring tailored offers to our customers across Europe so they can save when they spend with their Visa card."
Reward is Europe's largest provider of Personalised Card-Linked Offers ("PCLOs"), using advanced predictive analytics from spend, location and demographic data to drive insight, relevance, card-usage and product cross-sell for banks and retailers.
The Company has a cloud-hosted, API-based platform provided on full or modular basis to challenger and traditional financial institutions driving increased NPS, customer loyalty and retention.
Reward has the broadest and deepest retail network in EMEA with 100+ national and international retail partners, delivering them tailored solutions that drive over $13bn a year in online and offline sales.
Reward believes you can do good and do good business. It has given over £740m in rewards to customers by helping design, build and operate the best Customer Engagement programmes in the world.