HSBC partners with Loyalty Lab
Loyalty Lab has started a strategic alliance with HSBC Finance Corporation’s card and retail services business to extend loyalty and CRM capabilities to retailers that offer private label and co-branded credit cards through HSBC.
The new alliance means HSBC’s more than 70 merchant partners have the option to employ Loyalty Lab’s rewards engine to underpin their private label, co-branded and customer retention management (CRM) solutions. Merchants will be able to internally collect and analyze select information that will help merchants improve customer retention.
“Our alliance with Loyalty Lab allows HSBC to offer our merchant partners yet another unique, innovative solution to acquire, retain and reward customers,” said Patrick Burke, managing director and chief operating officer, card and retail services, for HSBC.
“Linking HSBC’s customised private label credit solutions with Loyalty Lab’s comprehensive loyalty marketing platform will help retailers meet the needs of their customers, while building loyalty and increasing sales.”
Mark Goldstein, CEO of Loyalty Lab, said that linking loyalty programmes directly to the payment mechanism makes the most sense for consumers and the merchant. “By working together, merchants will get faster integration and gain broader program capabilities,” he added.