Yoyo has launched a bank card-linked loyalty to address customer loyalty and reward in South Africa. According to research, consumers want the rewards and loyalty; however, they feel the extra step at checkout to swipe another card or open a loyalty app is cumbersome. Bevan Ducasse – CEO of Yoyo, believes bank card-linked loyalty addresses this core need and challenge.
“The trend for customers is towards simplicity and speed of checkout, as seen with the rapid adoption of tap-to-pay,” he says. “We, therefore, decided to link loyalty to this, which enables earning into the retailer’s loyalty programme seamlessly on the back of a bank card payment. No additional cards, no additional steps.” Bevan Ducasse – CEO of Yoyo
Yoyo, which rebranded from wiGroup in 2020, powers some of the world’s leading retail brands to engage, retain, and attract new customers. They are integrated into over 200 000 retail lanes across 17 000 stores over 5 million monthly active users. The company offers the world’s most rewarding buying experience, SaaS solutions for all aspects of customer loyalty, and global leaders in customer loyalty and rewards software.
“Providing a rewarding buying experience to gain rich insights is how we grow to spend and increase the lifetime value of customers for our clients. This is what we set out to do as a company.” Bevan Ducasse
Currently, Yoyo is piloting bank card-linked loyalty in the Netherlands, Germany, Iceland, Portugal and South Africa, using the feedback data to refine the product and better serve customers.
The company has also launched an SME offering, which offers onboarding in under 10 minutes, striving to provide the power of loyalty to any small business. Through their channel partnerships, the team hopes to take this solution to the 1 million-plus small businesses in the regions they operate in.
“We’re excited to extend the solution to small merchants, as we have witnessed the challenges of keeping businesses open in the current climate. We are therefore hopeful we can play our small part to get customers returning and spending more at their local merchants,” Ducasse said.
With the help of Yoyo’s dashboard and campaign, retailers can drive transaction values and frequency of spend higher via enriched view of customers. “Loyalty, according to Ducasse, isn’t about jumping through hoops; it’s about relationships – consistent, mutual, and meaningful.”
"Rewarding with loyalty should be seamless and communicate, ‘we appreciate you adding value to my business, and therefore want to thank you for your loyalty,” he added.
South Africa in Focus:
GDP: $369.85 billion compared to Angola's $88.816 billion in 2019
Population: 58,558,267 million compared to Angola's 31,825,295 in 2019
GDP Per Capita: $6,193 compared to Angola's $2,790 in 2019