The date for the compulsory use of Strong Customer Authentication has been delayed after a maelstrom of pressure from all parties. No new date has been given. This decision does not affect the roll out of Open Banking, which is still set to take place on September 14 also, and is having its own problems. The recent decision by the European Banking Authority (EBA) and confirmed by the European Commission that all ecommerce retailers should use Strong Customer Authentication from September 14 … [Read more...] about SCA postponed as EBA bows to pressure
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Koin working with Fidel for ethical rewards
Having just announced their Seedrs crowdfunding campaign, Koin Rewards, the ethical rewards platform built on blockchain, is to partner with card linking API Fidel to build a responsible and sustainable rewards programme for shoppers. Koin Rewards is working with Fidel to build a community of merchants and members based upon shared ethical behaviours. Koin Rewards is using Fidel’s PCI-compliant card linking API to enable merchants to automatically reward their customers for shopping … [Read more...] about Koin working with Fidel for ethical rewards
Seeing deadline for strong authentication as opportunity
The recent decision by the European Banking Authority (EBA) and confirmed by the European Commission that all ecommerce retailers should use Strong Customer Authentication from September 14 is going to cause major problems for consumers and businesses alike. But isn’t this a massive opportunity for loyalty? The requirement for SCA will apply to online shoppers whose purchase is of more than £27 in a single transaction and will require shoppers to relay codes sent to their mobile … [Read more...] about Seeing deadline for strong authentication as opportunity
Focus on Australia -1
Amazon – friend or foe on prime day?David Jones launches, but Australians remain convenience focussed Australians were the first to participate in Amazon Prime Day this week, which leads us to ponder two questions. How can retailers use the Amazon model to their own loyalty advantage, and why do surveys suggest Australians have never been LESS loyal? Amazon has been a thorn in the flesh of retailers generally since its creation. It only arrived in Australia for Christmas … [Read more...] about Focus on Australia -1
BA and Marriott smarting from data penalties
8 key trends from Verizon data report Governments have woken up to the potential that GDPR presents to move money out of private businesses and into the government Treasury pot – so much easier than trying to make the internet giants pay taxes. Facebook, which carelessly shared the data of up to 87 million Facebook users with Cambridge Analytica, has already been fined a fairly insignificant £500,000 by the UK government. Now the US regulators have approved a … [Read more...] about BA and Marriott smarting from data penalties
Article for teckies: SEC approves sale of first consumer tokens to reward online activity
After cracking down on ICOs, the SEC just approved the first two RegA+ tokens that offer an alternative way for anyone to gain a financial stake in a company, even unaccredited investors. Regulation A+ is an initial public offering (IPO) alternative geared towards startups in need of early funding. Regulation A+ funding was launched in 2012 under the “Jumpstart Our Business Startups Act.” While Regulation A+ has more lenient disclosure obligations than as with an IPO, it has two tiers with … [Read more...] about Article for teckies: SEC approves sale of first consumer tokens to reward online activity
Kantar deal highlights need for data aggregation
Marketing and advertising agency WPP has confirmed it is selling 60% of its stake in markets research and data company Kantar to Bain Capital, valued at around $4bn. It follows the recent US$4bn acquisition of Epsilon by Publicis, highlighting the appetite to invest in data aggregation capabilities. The size of the deal is a surprise because Mark Read, chief executive of WPP, had previously stated his intent to hold onto 25-40% of the company. An industry commentator said … [Read more...] about Kantar deal highlights need for data aggregation
Square Loyalty expands into Canada
Square, the POS payments company co-founded by Twitter CEO Jack Dorsey, has launched its new loyalty programme, to Canadian businesses this week. It has been running in the US since 2017. The tool, called predictably Square Loyalty, allows business owners to customize loyalty programmes for their customers; ranging from simple points-earning systems to more complicated tier-structured loyalty programmes. “Canadian customers love loyalty programmes, and in today’s competitive … [Read more...] about Square Loyalty expands into Canada
Some things never change – Aussie spat over rewards
Virgin Australia and Qantas are engaged in a media argument over how easy it is to book seats with reward points and which is the best programme. It all started when Qantas announced that it was embarking on a “huge” overhaul of its frequent flyer programme, to make seats more available. Virgin Australia responded with a billboard campaign that said “nothing’s changed – in its award winning seat availability. Qantas responded by saying that nothing had changed with them either, they … [Read more...] about Some things never change – Aussie spat over rewards
Fintech startup offers automatic switching to best rates – to guard against ‘loyalty penalty’
The practice of penalising customers for being loyal is coming under major attack in the UK, where utilities, mobile phone companies and insurance firms have been particularly culpable. Financial services are not without fault either and last month a ‘super complaint’ was lodged by Citizens Advice to the Competition and Markets Authority which estimated savings customers had lost out on more than £800 million since September 2018. The CMA claims that as with other sectors, higher rates … [Read more...] about Fintech startup offers automatic switching to best rates – to guard against ‘loyalty penalty’
