Barclaycard wants to launch a loyalty scheme in the next 12 months, which could attract the 90,000 retailers that use the company for card payment acceptance.
In a move that would mean the credit card brand goes head to head with Nectar and Tesco Clubcard, Barclaycard’s 12 million credit-card holders could be offered monetary rewards if they use their card to buy from retailers that work with Barclaycard.
Barclaycard chief executive Antony Jenkins told Retail Week: “I’ve always believed we should launch a scheme which leverages the different parts of our business in the UK. I envisage shoppers get rewarded at a vast range of retailers… from online shopping to a takeaway or restaurant, when they make their usual purchases on their Barclaycard.”
Jenkins added that he would make redemption as seamless as possible. “The scheme must be simple and convenient for customers, with no need to have vouchers and coupons. It must utilise the power of the chip inside the credit card to be totally electronic, instant and incredibly intuitive to the card holder. We’ve all collected different rewards over the years in a wide range of schemes and, for most of us, we will only ever redeem a few of them – I have no desire to add to the points mountain,” he said.
“This is about supporting the high street – it will make connections between our card holders and our retailers. For customers, they are getting better value on their usual spend; for retailers, it’s about giving them a competitive edge in a difficult market by driving greater footfall to their stores.”
Orange and Barclaycard have formed a strategic partnership to develop and market contactless payment services using mobile phones. Jenkins forecasts that all his UK card holders will be able to use their mobile phones to pay for items within three years.