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Lloyds to invest in loyalty app Bink

Lloyds to invest in loyalty app Bink

Lloyds Banking Group is to follow Barclays in becoming a shareholder in Bink, a loyalty app launched in 2015, Sky News understands.

Bink links consumers' payment cards with the loyalty schemes of participating retailers.

The startup has signed up a number of prominent high street retailers, including Harvey Nichols, Iceland and the Japanese food chain Wasabi, since its launch.

Bink struck its first major banking partnership with Barclays in 2019 in a deal which saw the lender invest approximately $10 million in the app and provide access to its six million UK mobile customers.

It is unclear how much Lloyds plans to invest in the business, or at what valuation.

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