The AFR published an interview with Terry McMullen about how simplifying loyalty brings rewards in the Fintech now, New age banking section of the paper on 8 August, 2019.
The article provides a good summary of the OpenSparkz purpose, platform and the benefits it brings to both retailers and shoppers.
Some key points include:
- The OpenSparkz loyalty platform takes a cumbersome process for both shoppers and retailers and simplifies it
- Shoppers have to fumble around in a wallet or bag to present a loyalty card or token on their phone in a 2 step process while paying
- Retailers need a complex datacapture system at the POS to capture the valuable customer data
- The OpenSparkz platform solves both problems by linking the loyalty reward system to the shopper’s credit card and automating the data capture
- Shoppers simply pay with their credit card and receive instantaneous access to the loyalty reward
- The retailer just has to process the purchase and the data capture and issue of rewards just happen
- This turns a two-step high friction process into a simple one-step one for both shoppers and retailers and saves the retailer a big upfront technology investment
The article goes on to discuss the development of OpenSparkz and its leading platform, the creation and funding of the business and plans for global expansion over time.
If you would like to read or download a copy of the full article, click the image below.