Yoyo Wallet, the fast growing mobile wallet company, has begun its move to change the payment and loyalty strategies of UK high street retailers, with partnerships between Planet Organic, Fernandez & Wells and Hummus Bros being announced today.
Yoyo Wallet has been quietly revolutionising the way students and employees of corporate head office pay for the past three years, operating across more than fifty UK universities and over a hundred corporate locations such as PwC, M&C Saatchi and Hewlett Packard.
After focusing on university and corporate environments, the three retail chain partnerships are the first large high street partnerships for Yoyo Wallet, with further significant high street announcements expected in the coming months.
Today’s partnerships mean Yoyo Wallet users at the three retailers can easily make mobile payment, automatically collect loyalty points and stamps, get a fully itemised digital receipt and receive unique discounts and deals. At the same time retailers will receive real-time customer basket data and a mobile-first loyalty and marketing platform.
A recent survey found that nearly a quarter of all respondents (24 per cent) predicted they would spend more than £50 a week using their mobile device by 2020. Retailers like Planet Organic acknowledge that in order to cater to increasing demand, they must offer mobile payment options.
“Of course we offered the same contactless payment options available everywhere else through normal point of sale terminals, but this didn’t allow for us to learn anything new about our customers or to reward them in any way,” said Eric Adatia, Financial Director, Planet Organic.
“In 1995, when we opened, our mission was to bring a sense of discovery and adventure into food shopping. We wanted to make it easier for people to try out and fall in love with wholesome, local food. Yoyo Wallet will make it really simple to personalise rewards and offers we know our customer will love.”
Retailers partnering with Yoyo benefit from a mobile payment and integrated loyalty app for customers, as well as access to Yoyo Engage, a CRM and insights platform that provides basket data, segmentation around customer actions and a mobile-first marketing platform.
Alain Falys, Co-Founder and CEO of Yoyo Wallet, said of the deal:
“We’re thrilled to be in partnership with two really well known and loved brands such as Planet Organic, Fernandez & Wells and Hummus Bros. We created Yoyo to deliver a transaction experience that makes mobile relevant for retail in a way that enables a better relationship between customers and the retailers they love. Real innovation of the mobile wallet should go beyond payment. Using your mobile to pay should be combined with automatic collection of loyalty and a whole bunch of other really cool features.”