Tired of carrying around a million paper loyalty cards? There’s an app for that now thanks to FinTech start-up loyalBe.
The Belfast-based company launched its flagship app of the same name last week, which aims to replace loyalty card systems that are typically found in coffee shops.
loyalBe uses open banking technology to replace paper loyalty cards across multiple companies with a single mobile app, which will also function as a data-driven platform to help companies increase customer retention.
Instead of traditional loyalty schemes which are unique to each store, loyalBe says users of its app will earn rewards in partner stores, such as Simply Good Coffee where the launch event happened. Users can receive awards simply by paying using their linked card.
The app’s launch came soon after the company received authorisation from the Financial Conduct Authority (FCA), which is needed by firms and individuals to carry out regulated financial service activities. This is validation for customers that the app is safe and secure to now use.
Its founder, Cormac Quinn, commented: “The team and I couldn’t be more excited by last week's launch. After months of hard work, it was great to have so many people down to celebrate with us.
"This is only the beginning, but having almost 1,000 users sign up, without a penny spent on marketing, is a good sign. We have a lot in store over the next few months and hope to keep this momentum up."
The company secured a significant six-figure growth investment in June 2019 and also won last year’s inaugural Open Banking Challenge by tech start NI and Danske Bank.
The app can be downloaded here (https://loyalbe.app/launch) and works on iOS and Android devices. You can also download it from your smartphone’s App Store. Businesses interested in implementing the software should reach out here (https://loyalbe.io/other/contact-us.html).
