Barclays, a British multinational investment bank and financial services company headquartered in London, as per recent reports has acquired a minority stake in Bink app, a UK-based fintech loyalty mobile app startup. Bink was launched in 2014, with a prime focus on redefining loyalty, in its attempt to make life simple and rewarding for all. With its Payment Linked Loyalty (PLL), patented tech, which links payment cards to loyalty programs, enabling automatic identification and incentive rewards for customers who present their payment cards, the startup is all set to revolutionize the loyalty experience for both retailers and consumers.
Bink has eliminated the need for paper coupons or plastic cards and has enabled the merchants to save up to 8 precious seconds at checkout, in its attempt to provide them a significant operational efficiency. Furthermore, to enable the brands better engage with their customers, and create & foster a personalized experience with them, Bink now allows brands to identify a customer’s loyalty ID for every card transaction.
With the Bink app, in Beta version, customers can store loyalty cards, viewpoints, and manage loyalty program. The startup also announced that in the near future, it’ll soon be launching a new app that will incorporate “Payment Linked Loyalty” with selected loyalty programs.
According to Ruchir Rodrigues, Head of Digital and Open Banking at Barclays, the company’s over six million loyal customers use the Barclays mobile banking app to manage their everyday finances, and the company strives to make that a seamless, intuitive, and secure experience. With Bink’s seamless payment linked loyalty tech, customers will never miss out on loyalty benefits.