FinTech Yoyo has released a new system linking bank cards and loyalty schemes.
In Brief:
Yoyo automatically applies relevant retail loyalty to customers when they pay with their bank card.
Bank cards are linked to a loyalty app which includes a number of loyalty schemes.
It offers a low-cost way of integrating through terminal providers.
What does this mean?
Many retailers have turned their attention to loyalty schemes in recent years, due to increased competition and the challenge of getting consumers back to the shops amid the pandemic. However, loyalty systems have not been disrupted as much as other parts of the payments space. Businesses like Yoyo are hoping to tap into this market.
