Logo

Site non disponible sur ce navigateur

Afin de bénéficier d'une expérience optimale nous vous invitons à consulter le site sur Chrome, Edge, Safari ou Mozilla Firefox.

adnews
  • Payment
  • France

Transaction Connect Converts Payment Cards into Loyalty Cards

FACTS

  • Transaction Connect intends to convert payment cards into loyalty cards and managed to raise €1.5 million.
  • This funding series as led by Elaia and comes in addition to €700,000 in non-dilutive investment.
  • Goal: boost their omni-channel CRM solution and remove the need for separate loyalty cards.
  • This start-up was founded in September 2016, and features a platform for optimising CRM through highly customised offers, based on transactional data analytics and consumers’ behaviour.
  • Targets: multi-brand commercial areas, including shopping malls, airports and train stations, and shopping centres featuring a large number of points of sale.
  • How it works?
    • Transaction Connect lets consumers (after consent has been obtained) pair their means of payment with their loyalty programme.
    • When paying by card at checkout, customers are automatically identified. They don’t need to show their phone or loyalty card.
    • This start-up’s technology identified each online and offline transaction, whichever the brand.
    • Consumers may then collect points for each purchase, enjoy cash-back and other promotional offers.
  • This financial round should help them boost their operational and technical teams. They would also plan to achieve European and international reach.

CHALLENGES

  • Security requirements. In order to gather consumers’ payment data and meet bank-grade requirements, this start-up has been granted approval by the ACPR. The data they collect is encrypted and stored to EU-based secure servers.
  • Securing customer loyalty. Transaction Connect says they want to enable brick-and-mortar retail outlets to expand their business through engaging their customers and securing their loyalty in a different way. They rely on AI-based recommendation algorithms to help online and brick-and-mortar marketplaces retain end customers.

MARKET PERSPECTIVE

  • Their solution was tested in 4 shopping centres from the Unibail Rodamco group, or 520 brands and 800 shops. After 15 months, customers seem to have adopted the service and 87% are active users.
  • In the weeks to come, 9 additional commercial centres will be equipped, i.e.: 880 brands and 1,700 shops in France, in Spain and in Sweden.
  • Multi-brand loyalty programmes are becoming increasingly popular. A few days ago, Wirecard unveiled a multi-merchant solution combining payment and paperless loyalty cards.
  • Another French Card-Linked Offers specialist, Paylead, also announced they have been selected to run a cashback programme for Max, Arkéa’s aggregation service.