Barclaycard is launching Barclaycard Freedom in March – the broadest retail rewards scheme the UK has ever known.
The groundbreaking new loyalty scheme will be available to over eight million cardholders who will be able to earn rewards in an unprecedented number of shops, restaurants and online outlets across the UK, without having to do or pay anything to join.
As well as household names, the scheme opens up the concept of a rewards programme to a great many small and medium retailers for the very first time, supporting the high street at a time of difficult trading conditions.
The scheme works in a unique way as it allows cardholders to interact at the point of sale, bringing a new level of simplicity to the concept of customer rewards. There is no need to collect and save vouchers and coupons, no need to replace their card or carry an additional one, and with no points to calculate – the rewards will be recorded in pounds and pence. It will utilise a state of the art technology system and the chip within the credit card to be totally electronic, instant and incredibly intuitive to cardholders. Retailers who participate in Barclaycard Freedom will be able to offer rewards and relevant offers at their point of sale to over eight million cardholders.
Barclaycard cardholders will automatically earn rewards, called ‘Reward Money’, when they use their Barclaycard at a participating retailer – 1 per cent on most transactions alongside regular special promotions and giveaways. After a transaction takes place the cardholder will usually see their new Reward Money balance on the card machine. Next time they use their card in a participating retailer they will see the value of their Reward Money balance appear on the card machine before they enter their PIN to pay. They can then choose to redeem some or all of their Reward Money towards that transaction or to continue to save up for a future purchase at another retailer within the scheme.
Barclaycard has invited more than 30,000 retailers of all sizes to be partners in the scheme, meaning that when it launches in March it will be a rewards coalition of unprecedented size and scope. On average, there will be 200 retailers within five miles of where a cardholder lives. Barclaycard Freedom will be supported by a significant marketing campaign with TV, online and print advertising driving awareness about the programme for our customers.
Participating retailers will benefit from a loyalty scheme that includes over eight million cardholders at launch meaning there will be on average 75,000 Barclaycard cardholders within five miles of a retailer’s store.
Sarah Newman, Managing Director of Barclaycard Freedom, said: “The breadth of Barclaycard Freedom offers customers the chance to earn Reward Money when they do their weekly shop, go out for a meal or shop online. Barclaycard Freedom offers our cardholders something for nothing on top of the benefits they already receive. It incorporates all of the best elements of other reward schemes and with no need to collect and save vouchers – the rewards will be in pounds and pence. Offering special offers and additional giveaways, on top of the steady rate on all purchases, is a novel way of rewarding the loyalty of customers using the scheme. This is an exciting development for our customers, our retail partners and for Barclaycard itself.”
www.warren-knight.com thanks RetailBulletin