sQuid, a UK e-payments provider, has announced the launch of its new contactless smartcard-based loyalty scheme following successful trials over the last 12 months. The custom-made schemes are designed to enable businesses large and small to cost-effectively offer loyalty rewards to their customers.
sQuid uses contactless smart card technology to store value and enable transactions, providing customers with an online account where they can view their transactions, as well as keep track of their loyalty funds. The smart card can hold multiple purses, so one purse can be for sQuid customer payments while another enables retailers to add loyalty value, allowing retailers to reward and incentivise customers. Consumers can collect and redeem rewards every time they shop.
Through a scheme of their choice retailers can appeal to new customers and reward their frequent customers. Loyalty schemes could include money back or a reward after a certain value of spend or number of transactions. A benefit of sQuid is that business owners can personalise the scheme to their needs with own-branded cards and communicate with customers via a branded portal.
(Source: sQuid)