The untapped potential of digital loyalty programmes

Mario Shiliashki

Journal of Payments Strategy & Systems, 2013, vol. 7, issue 2, 106-111

Abstract: As the shopping interaction changes, the way in which payments are made also continues to become more sophisticated. There has been a steady ascent from coins, to paper, to plastic and now, at this pivot point, to a world beyond plastic. Electronic payments have been possible for some time now, but ways to pay digitally are currently expanding dramatically and irreversibly. Perhaps the most valuable and still too often neglected of all potential digital payment enhancements are rewards programmes. In a world of hyper-accessibility for shoppers, when it is possible to buy something from Tangiers as easily as from Teaneck, and given the ever-present hyper-competitiveness among merchants, loyalty programmes are a way to stand out, a differentiator to generate the repeat business that keeps businesses going and flourishing. The more readily and naturally a digital purchase locks up and links into all available points programmes and discounts and sales, the more satisfied a customer is likely to be. Loyalty programmes that are reliable and easy to use can be the difference between a constant, repeat customer and one who just shows up now and then. That should inform any methodology to enable shopping and digital payments. It is beginning to happen, but the untapped potential of digital rewards and discounts remains huge.

Keywords: loyalty; loyalty programmes; payments; MasterCard; digital payments; digital coupons; MasterPass (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2013
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