Wirecard links loyalty and payments in a single mobile wallet

Wirecard, the global innovation leader for digital financial technology, continues to expand its value added services portfolio with the launch of its fully-digital multi-merchant loyalty solution.

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With an unique B2B2C approach, the solution supports companies looking to globally expand their operations and tap into new industry sectors. By linking loyalty and payment services within a digital wallet, Wirecard is the first company globally combining these services fully cross-functionally. This means everything from issuing and managing branded loyalty cards and apps to managing all wallet transactions, will be handled by Wirecard. With this, the company offers airlines and other segments such as retail an all-in-one service through the Wirecard platform: customizable solutions, loyalty program support, and payment services integration.

Wirecard expects this unique service enhancement to drive EUR 150 million extra revenue in the next 12-18 months.

The customer journey is as simple as possible: Every time a consumer pays with a linked payment method, they collect rewards in the form of points, miles, or any other benefits. Users have more freedom when redeeming their rewards thanks to this flexibility. End customers’ points can be converted into digital money to make purchases both online and at point-of-sale across a range of merchants. At the same time, merchants benefit from the extra revenue that comes from points being redeemed digitally as a payment method.

To get the most out of the loyalty program, the Wirecard solution increases the number of possible touch points where users can earn and redeem points by combining multiple market segments. This kind of loyalty approach is especially relevant in the airline industry. A 2018 global study by Bond Brand Loyalty found that 50% of consumers are very satisfied with multi-brand loyalty programs.

“When it comes to loyalty programs, engagement and simplicity are key. With our flexible loyalty offering, we can involve more companies on a global scale,” commented Jörg Möller, EVP Travel & Mobility at Wirecard. “As a result, consumers can engage in a larger loyalty program, which offers them more channels to earn and spend their rewards around the world, and a seamless loyalty experience. We are excited to bring modern, innovative loyalty programs to the market with our new solution and continue to digitalize daily financial management.”

The new solution will be piloted in cooperation with CardGenY, a London based company which provides digital transformation toolkits for example for the travel industry. CardGenY customers include a number of national airlines and Fortune 500 companies. Through this cooperation, Wirecard and CardGenY can provide loyalty program operators with customizable and digital-first solutions.

“Loyalty and rewards is in our DNA - together with Wirecard, we are able to combine fully digital payment capabilities with a first-class loyalty management platform and points engine to support simple to complex programs. We are excited about enabling merchants to widen their reach and customer engagement and generate new revenue beyond their core business,” said Peter Marriott, Co-Founder of CardGenY.

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