Here's How Bink Is Creating Linked Loyalty Cards
Brought to you by WBR Insights
With the customer holding so much power in the modern retail landscape, brands are constantly searching for ways to keep them coming back for repeat purchases rather than shopping around with one of the many competitors available - both physical and online.
Loyalty programs are one such way of fostering repeat business from fickle and savvy customers. Offering rewards, such as discounts, exclusive products, access to contests, and more, for the accumulation of points over repeat visits to store locations is a fantastic method of building customer excitement for the brand.
Nonetheless, "customer loyalty" is perhaps the wrong term to use these days. Customers need a reason to give brands their business - as well they should - and loyalty programs provide a quid pro quo method of achieving that.
However, with so many loyalty programs out there and more being added all the time, customers can feel overwhelmed with the number of cards they need to carry around.
This is where Bink comes in.
Dubbing itself "Payment Linked Loyalty," Bink offers a unique platform where retailers can offer their customers a new way of collecting points for their loyalty programs and manage those programs without the need to carry dozens of cards around with them.
Using the innovative and intuitive smartphone app - available on Android and iOS devices - shoppers can link their credit, debit, and other payment cards to their loyalty programs. This means that, when they shop at the physical stores of Bink's partner retailers, they only need to pay using those options to have the points automatically added to the appropriate loyalty programs simultaneously. Customers can be easily identified and rewarded each time they shop - without the need to fumble around for multiple cards.
"Bink is the only app where you can store and view all your loyalty programmes on your mobile and link your everyday payment cards to automatically collect points and rewards," says Bink. "No more fumbling with plastic, no more missed points. Simply scan your loyalty cards into your Bink App. At check-out, just show your loyalty card or barcode from within your Bink Wallet."
Bink doesn't just offer new levels of loyalty card convenience for consumers, however. The innovative app can also benefit retailers by identifying customers who have shopped with them before but haven't signed up to their loyalty program. As the customer has the Bink app installed, it's reasonable to assume they are interested in loyalty programs and can be sent a notification inviting them to join through a simple in-app signup process.
Bink also gives retailers access to a wealth of useful data on their customers' shopping and behavioral habits. This data is automatically formatted into clear and easy to understand charts and tables, allowing retailers to develop ever more sophisticated profiles of their customers and use that information to create more relevant, more personalized rewards and offers.
"Bink helps you to protect, deepen and grow your customer relationships by delivering a desirable customer loyalty solution that establishes your app as a central location for customers to view and manage all their loyalty programmes, driving engagement and delivering valuable customer insights."
Bink is certainly shaping itself to be a platform to watch in the future. The brand has recently secured a significant investment from banking brand Barclays which should help it accelerate its growth and reach a wider audience than ever before. The $12.9 million investment will see the two brands working closely together to deliver new and exciting experiences for customers and drive business models for growth in the future.
"Bink has created a practical and innovative solution to an everyday problem and we're excited to support them in the next stage of their growth," said Head of Digital and Open Banking at Barclays, Ruchir Rodrigues.
Approximately six million customers use the Barclays banking app, and it's predicted that the new partnership will allow the banking brand's customers to accrue points when they make purchases using their Barclays payment options.
UK-based Bink has also announced plans to expand its offering to the US and South Africa through another strategic partnership with software giant Microsoft. The Bink platform is built on Microsoft Azure architecture, making them the perfect partner for the next stage of the Bink journey.
"Bink's robust technology solution is supported by industry-leading Microsoft Azure and is scalable, providing the highest levels of security and data protection. Bink's technology provides a simple add for any business, achieving seamless integration with partner platforms through a suite of API's or SDK's, combined with comprehensive technical support from the Bink team."
Loyalty programs and smartphone technology are set to be hot topics at Future Stores Miami 2020, taking place in February at the Miami Marriott Biscayne Bay, FL.
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