The number of start-ups in retail technology is growing quickly and Retail Week is highlighting some of the best. This week Reward Technology is in the spotlight.

Loyalty system Reward Technology

Eric Van der Kleij, head of start-up incubator Level39, has nominated Reward Technology as start-up of the week.

Reward Technology

Founded: 2013
Investment: £750k
Founders: Paul Sheedy

What it does:

The company has developed a system linking shoppers, retailers, FMCGs and their customer analytics provider, which allows accurately targeted rewards and offers to be delivered immediately as a customer enters a store or shopping mall.

Eric Van der Kleij says: “For the majority of retailers, smartphone centric solutions are not the best solution when looking to engage with their entire customer-base. This is because there are a plethora of difficulties in cooperating with different mobile providers to deliver a long-term strategy, for this reason Reward Tech have devised a different solution.

“The team’s experience in chip design and radio frequency capabilities transforms the simple loyalty card into the trigger that enables Reward Technology to communicate without barriers to every type of mobile phone. The technology allows retailers to deliver exactly right offers to the right customers as they enter stores. It allows seamless redemption at the till with requiring no change in customer behavior.”

Why it is relevant to retailers:

Van der Kleij says: “Reward Technology looks at the ‘mobile’ market in a very different way, delivering targeted offers linked to existing loyalty cards via text message, rather than developing a solution solely for smart-phones. Due to their approach, to reach ‘all’ mobile phones, the solution is applicable to the retail-experiences of many global areas, rather than just those with a high-level of smartphone penetration. It’s a unique approach that opens a much broader market. Reward Technology are one of the most experienced teams at Level39, with multiple members of the team having devised and worked on ground-breaking technologies in the past.”

More information:

Go to rewardtechnology.com