In celebration of its first anniversary, local technology startup Bloom announced a collaboration with Visa, the world’s leader in digital payments, to create Hong Kong’s first true spending cash-back app. Starting today, Bloom’s app, named Bloom, comes with a major upgrade to user experience, helping smart consumers build a simplistic yet trendy lifestyle.
According to The Visa Consumer Payment Attitudes Study 2021, consumers prefer a more convenient way of monitoring their loyalty programs and redeeming benefits. The majority (74 per cent) prefer online methods such as e-redemption and app-based tracker to monitor their loyalty programs. Apart from an online platform, appealing rewards, easy redemption of rewards, and a good variety of rewards are main drivers to loyalty program satisfaction. Bloom, a mobile app that provides attractive rewards with easy redemption, perfectly fits consumers’ expectations.
Bloom beats existing cash rebate apps in the market with three key functions to seamlessly integrate into consumers’ lives:
• Hot offers around town: Bloom is the one-stop destination for the best deals from partnering brands. Be it cool, fashionable or exciting new local brands, Bloom provides member-exclusive offers. Members can explore the latest promotions of their favourite brands at their fingertips in the “Home” page of app, while building a quality lifestyle amidst the city’s hustle and bustle. Consumers can join as a member and start experiencing Bloom with a few simple steps, by tapping “Sign In / Sign Up” with their mobile number and email address.
• Double up offers with instant rewards and 24/7 conversion: By linking a Visa card to Bloom and spending with the Visa card at partnering brands, members can earn attractive rebates upon making a purchase. Rebates will be instantly distributed and directly credited to the user’s Bloom account, enabling members to bid farewell to the hassle of queues and complicated procedures. There is no limit to the rebates - the more a member spends, the higher the amount he/she can earn. Combined with the spending rewards offered by Visa, members can enjoy year-round double offers. Powered by the Faster Payment System (FPS), members can transfer the cash rebates in Bloom to a designated bank account anytime.
• New “Explore” function introduces stylish living: The “Explore” tab is a content portal for members to check out the latest promotions and offers from brands. With the “Follow” function, they can also become a member of any brand(s) in Bloom and discover the latest trends.
Eddie Rong, Founding Member of Bloom, said: “While cash rebate apps have been popularised for some time, the rebate mechanism and conversion have always been a part that needed to be optimized for user experience. We are pleased to address users’ pain points by handling sophisticated application and redemption procedures with technology, allowing consumers to enjoy an all-new seamless shopping experience. We hope with the emergence of Bloom, we can turn digitalised cash rebates into a new normal in Hong Kong’s retail segment, benefiting the broader consumer community.”
The technical support for Bloom is provided by Visa’s back-end system for processing card transactions. Bloom can distribute instant rebates by identifying eligible transactions and Visa cardholders, enabling reward redemption in a timely manner.
Justin Chan, Founding Member of Bloom, added: “The development of digital technology has further unleashed the potential of traditional retail markets, setting a new trend in merging online and offline shopping experiences to boost Hong Kong’s local economy. We hope Bloom’s major upgrade can bridge the gap between the conventional retail industry and digital technology, and attract stakeholders from different areas to join the ecosystem and together contribute to the city’s economic growth. It is our honour to be partnering with Visa to make a significant step towards this goal.”
Maaike Steinebach, General Manager, Visa Hong Kong and Macau, said: “The pandemic has led to a significant shift in consumers' behaviors and preferences, thus accelerated digital transformation. The partnership with Bloom is testament to the fact that we listen to the consumers, and we are here to serve their needs. Visa will continue to work closely with Bloom in the hope of bringing out the best user experience and setting a new standard for cash rebate apps.”
A Bloom-themed truck will go on a roadshow around different districts of Hong Kong between 16 and 24 October 2021. Hong Kong residents can enter a lucky draw for exciting prizes by becoming a Bloom member and successfully adding a Visa card to Bloom.