The solution allows Valitor to provide merchants and banks in Iceland with the ability to create more advanced loyalty schemes.

The first merchant project using the software is supporting one of the biggest loyalty schemes in Iceland and is due to begin this year. It will be followed by the launch of the first Icelandic bank loyalty programme based on Welcome XLS. Valitor will also offer consultancy services for banks and merchants, providing advice on how to implement a successful loyalty scheme.

"Thanks to our solid relationships with Iceland's major banks and merchants, we are in a strong position to deploy loyalty programmes which will benefit cardholders across the country. Furthermore, we are planning on integrating the loyalty programmes with the NFC technology that we are implementing later this year," said Vidar Thorkelsson CEO of Valitor. "The flexibility of Welcome Real-time's solution makes it possible for us to extend the loyalty offering to our cross-border acquiring and issuing services in the future ."

Philippe David, CEO of Welcome Real-time said: "The Icelandic retail and banking industries are rapidly changing and companies are innovating to ride through challenging times and maintain customer satisfaction. By deploying effective loyalty programmes and pushing targeted marketing campaigns to specific customer groups, banks and merchants can boost their profitability through enhanced brand loyalty."