Digital-First Retail and their customers will enjoy faster, safer and lower cost transactions as part of the first phase of the new partnership with Loyalize which, in turn, will make for a better customer experience.
LONDON, DECEMBER 2021 Loyalize – a leading white label payment and customer engagement platform – has partnered with Digital First Retail (DFR) to help revolutionise payment and loyalty options across its portfolio of leading UK retail brands.
DFR, which has long been committed to “answering the evolving needs of modern consumers” will begin Phase One of the exciting partnership by rolling out the new Loyalize payment channel to the eCommerce platforms of Maplin, Office Outlet and PRAKTIKA. The move looks to provide these leading retailers with a safer, more cost effective, transaction option and reward customers with a better user experience and more loyalty benefits.
Slow processing, high risk of fraud and costly transaction fees are just some of the problems Loyalize’s popular new Pay by Bank scheme aims to solve by offering customers the option to pay directly and instantly from their bank accounts using a payment button, QR code or secure link.
For retailers, the benefits of this direct “bank transfer” include instant settlement (and therefore better cash-flow), savings of up to 80% against existing fees and 96% reduction in fraud rates, whilst without the need to enter payment information, customers also enjoy a smoother, faster user experience.
Loyalize is also currently developing a unique Incentives Engine as part of its partnership growth strategy, which will allow retailers to seamlessly gift a portion of their transaction fee savings back to the customer in the form of loyalty and reward benefits, such as frequent flyer miles, cash back or the ability to make charitable donations.
“Strong next step”
“This latest partnership with Maplin and DFR is a strong next step towards helping to revolutionise the payment landscape,” said David John, Founder and CEO at Loyalize. “Pay by Bank is quickly taking the retail and payments world by storm and it’s been great working with Ollie and the wider DFR team to create a truly market-leading payment channel for their customers.”
Ollie Marshall, Managing Director of Digital First Retail added; “We are really excited to be launching Pay by Bank, a new payment channel powered by Open Banking that is finally taking aim at the card scheme cartel. We’re looking forward to Pay by Bank becoming the new standard in payments, which means we can reinvest our savings into lower prices, innovating our shopping experience and rewarding our loyal customers”.
Loyalize is an Application Programming Interface (API) designed to directly address the frustrations experiences by retailers and customers alike, connecting the two previously detached processes into a single, streamlined transaction.
Whether retailers are just looking to offer customers a new way to pay, or are hoping to streamline their loyalty or rewards programme, Loyalize is a one-stop solution to unlocking a more engaging way to connect with customers. www.loyalize.ai
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