07 December 2016
Visit aciworldwide.com

Brits ditch traditional loyalty cards for their phones

31 October 2013  |  7892 views  |  1 Woman with shopping bag

UK shoppers are ditching old-fashioned loyalty cards and storing their reward schemes on their mobile phones, according to a survey from vendor CloudZync.

The poll of 2000 consumers shows that while the average leather wallet now contains four loyalty cards, people have access to six schemes on their handsets.

Tech-savvy electrical retailers are leading the mobile revolution, with almost two thirds of respondents having access to at least one loyalty scheme from this sector over their phones. In contrast, just 12% of people have a physical card for electrical stores.

Meanwhile, supermarkets are falling behind in the digital race - 92% of respondents have a physical card for Tesco, Sainsbury's or one of their rivals yet only 36% have a mobile scheme.

The research also shows that loyalty card users have on average £83 worth of redeemable points across their schemes at any point in time, and UK shoppers have cashed in on over £4 billion worth of points over the past year.

However, around £150 million in points remain unclaimed. Explaining why, 27% say that it takes too long to start earning benefits, 18% say they don't carry their cards in their wallets, and 14% don't remember to add on their points even when paying in-store.

Andrew Smith, CTO, CloudZync, says: "While it's clear that traditional cards are still doing well in many sectors, retailers that don't embrace smartphones and tablets as part of their loyalty schemes risk being left behind by those businesses that see the opportunity these devices offer to engage consumers in new ways."

Comments: (1)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Google integrates coupon service with Maps

Google integrates coupon service with Maps

28 October 2013  |  5870 views  |  0 comments | 11 tweets | 8 linkedin
American Express cardholders can now pay with reward points for NY taxi fares

American Express cardholders can now pay with reward points for NY taxi fares

21 October 2013  |  5801 views  |  2 comments | 14 tweets | 3 linkedin
UK start-up CloudZync launches mobile wallet

UK start-up CloudZync launches mobile wallet

13 August 2013  |  7302 views  |  7 comments | 6 tweets | 6 linkedin
ERN raises $1.6m for big data loyalty platform

ERN raises $1.6m for big data loyalty platform

19 June 2013  |  6014 views  |  2 comments | 4 tweets | 3 linkedin
Find out moreVisit contisgroup.comVisit aciworldwide.com

Who is commenting?

A Finextra member Finextra Member Commented on: Payments regulator blo...
A Finextra member Finextra Member Commented on: Payments regulator blo...
A Finextra member Finextra Member Commented on: AML Transaction Monito...

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7389 views 12 comments | 15 tweets | 26 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
6755 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
6527 views comments | 34 tweets | 30 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
5887 views comments | 16 tweets | 17 linkedin
Big tech policy group calls on Trump to promote fintech innovationBig tech policy group calls on Trump to pr...
5576 views comments | 22 tweets | 11 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job