Barclaycard has assembled a 200-strong team comprising marketing, operations and IT staff to establish a major loyalty rewards programme in conjunction with UK retailers. The bank has also signed a deal with Welcome Real-time to provide the scheme's IT infrastructure.
Barclaycard says it will work with the French IT specialist to develop the software that will enable cardholders to participate in a programme that is expected to encompass retailers ranging from sole traders to major high street names.
Dan Salmons, director of payment innovations at Barclaycard says: "Barclaycard has close to 90,000 retailer relationships, many of which we expect to participate in the programme, and we believe this scheme will change the way people shop in the UK."
He says the objective is to develop a "simple, hassle-free rewards scheme".
Barclycard - which is in the process of migrating all of its debit and credit card to contacless chips - first signalled its intentions to create a national loyalty programme in March this year, and promised to launch the scheme within 12 months.