Barclays invests in payment-linked loyalty startup Bink

Barclays invests in payment-linked loyalty startup Bink

Barclays has taken a minority stake in Bink as part of a wider strategic partnership with the digital loyalty startup.

Terms of the investment have not been disclosed, but Barclays says it has committed to a "significant" investment in Bink, believed to be up to £10 million.

Founded in 2015, Bink’s Payment Linked Loyalty platform uses unique technology to allow customers to link payment cards to loyalty programmes, enabling them to automatically collect points when they make a purchase.

The firm has secured deals with major retailer chains, who are able to tap in to consumer spending patterns and target users with relevant offers using the startup's digital marketing platform.

The Barclays deal is set to give Bink a consumer boost, potentially putting its technology in front of the bank's six million mobile customers.

"Bink’s seamless Payment Linked Loyalty technology will help customers avoid missing out on valuable loyalty benefits in all areas of their spending,” says Ruchir Rodrigues, head, digital and open banking, Barclays.

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