Technology to improve loyalty reward programs
New technology is now able to provide businesses with a means to link their loyalty programs to a customer’s debit or credit card. Customers, after registering their credit/debit card, can simply use the registered card to pay for goods/services while also receiving any loyalty rewards to which they are entitled.
Retailers will consequently be able to gain a greater awareness of the buying habits of their customers. And, with the ever increasing desire for retailers to understand their customers, the new technology could therefore be invaluable.
Essentially, the new technology will provide an improved and efficient loyalty rewards system while also supplying effective customer research at no extra cost. Attracting consumers to loyalty programs will also be made easier as people will realise that by joining they are saving time for future purchases, they can join quickly online or in-store and they do not need to have any loyalty cards or paperwork clogging up their wallets in order to be able to receive loyalty rewards.
The system, created by marketing company Chockstone Inc. in the USA, is set to be used by Chockstone’s clients (including Subway) but is not yet in operation.