Reward has announced an extension of their partnership with Visa, having been selected to provide capabilities and content for Visa’s issuer loyalty programmes across Europe.
Europe’s largest independent bank Engagement as a Service solution will continue building its existing and successful UK partnership with Visa, 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.
“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,” said Gavin Dein, Reward’s founder and CEO.
“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,” he continued.
The partnership builds on Reward’s already sizable cardholder portfolio, providing retailers with the transactional insight and banks with technological capabilities to deliver PCLO offers and Customer Engagement solutions at scale.
This supports Reward’s strategic goal of giving £1 billion in rewards to customers through bank Customer Engagement programmes by 2022.
“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,” he added.