An Irish loyalty has been sold on by its US parent, five years after a devastating cyberattack. Loyaltybuild never recovered from the cyberattack, which put the company out of action for seven months. In 2016, it announced 37 redundancies at its Irish HQ in Ennis, Co Clare base and lost a significant customer at the end of 2016. LoyaltyBuild rebranded but its past stayed with it The firm no longer has a presence in Ennis and new accounts filed by Loyaltybuild Ltd confirm that the … [Read more...] about Affinion divests loyalty firm five years after cyberattack
Company News
Latest card-linked loyalty start-up gains funding
Second seed round over-subscribed The concept of allowing consumers to consolidate multiple loyalty and points programmes into one mechanism is moving from a conceptually good idea to a fast moving express train. Latest announcement is the over-subscribed second round seed funding for rewards startup OpenSparkz which currently works in the Asia-Pacific region.Founded two years ago by (pictured) chief executive Terry McMullen (third from left) and co-founders … [Read more...] about Latest card-linked loyalty start-up gains funding
Closed loop multi-currency giftcard on a blockchain
Solving the issue of multi-currencies for loyalty and gift cards Tranxactor, working with technology company Kornchain, have released a ground-breaking multicurrency closed-loop gift card product which will use blockchain to create efficiencies, speed of transaction and cross-border usability. The global gift cards market is expected to hit US$750bn by 2026 with growth of 15% a year. But for many retailers and those in the hospitality sector that have … [Read more...] about Closed loop multi-currency giftcard on a blockchain
Barclays leads £10m funding round for Bink
Proposition to provide a marketplace for loyalty programmes back on the agendaLee Clarke and Greg Gormley no longer part of the management teamInterview with Mike Jordan, CEO here on Monday Barclays has become a minority stakeholder in Bink, having taken part in its recent oversubscribed £10m funding round. A statement said “Barclays and Bink will work in collaboration to deliver a ground-breaking experience for Barclays customers”. Bink began its life as a proposition to … [Read more...] about Barclays leads £10m funding round for Bink
Big guys suffer major fines with warnings of more to come
Big guys suffer major fines with warnings of more to come France fines Google €400m for GDPR breaches; Mastercard fined £504m by Europe for competition breach;It was a subject of much debate in certain circles as to which country in Europe would be the first to hit Google with a GDPR action. In the end it was France that was chosen to enter the history books because although Google's European headquarters is in Ireland, it was decided among the various … [Read more...] about Big guys suffer major fines with warnings of more to come
Air Canada completes purchase of Aeroplan
Aimia “in the enviable position of having unrestricted cash of over half a billion dollars” says chairmanAimia plans for the cash outlined Air Canada has completed its purchase of the Aeroplan loyalty program from Aimia, and has confirmed to customers that their miles will be honoured on a "one-to-one basis" when the airline's new rewards program launches in 2020. The deal marks a reunion for Aeroplan and Air Canada, which spun off the points program to Aimia in 2005. "Air … [Read more...] about Air Canada completes purchase of Aeroplan
Silicon Valley unicorn buys UK retail tech start-up
Silicon Valley unicorn buys UK retail tech start-up A UK tech company that has improved search and product placement to increase sales has been bought by a US unicorn. … [Read more...] about Silicon Valley unicorn buys UK retail tech start-up
Amazon chooses Amex for small business proposition
Amazon chooses Amex for small business propositionA deal made in loyalty heavenIf the retail industry aspires to be more Amazon, those in the payments business would dearly love to be more Amex. So the news that American Express has clinched the Amazon Small Business Card is a matchmakers dream.This is what the marriage looks like in detail: … [Read more...] about Amazon chooses Amex for small business proposition
Entries now open for The Loyalty Magazine Awards 2019
Entries now open for The Loyalty Magazine Awards 2019Welcome to The Americas!• Entries now invited from Europe, the Middle East, Africa, India, the whole of Asia and this year we invite The Americas to enter!• We are now global!A Loyalty Magazine Award is the most coveted award in Loyalty. People value the achievement of being judged the best among their peers and brands wear their Winner’s Seal with pride.For the eighth year, we are proud to announce that entries are … [Read more...] about Entries now open for The Loyalty Magazine Awards 2019
ASOS achieves by listening to Generation Z
ASOS achieves by listening to Generation ZLoyalty programme ditched for subscription delivery Online fashion retailer ASOS (which posted impressive results this week) has cancelled its customer loyalty programme and replaced it with ASOS Premier, which smells very like Amazon Prime. … [Read more...] about ASOS achieves by listening to Generation Z
