PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Credit Card Issuers Compete Over Prime Consumers

Michael Misasi by Michael Misasi
March 19, 2014
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

The Shopkick model of incentivizing consumers’ buying behavior in-store through mobile applications is now in play through different variations and one being piloted in the United Kingdom is one work watching.

Shopitize is a mobile application designed to enable a direct-to-consumer program retailers use to offer cash back to consumers who purchase their products. When a Shopitize user’s account reaches five pounds, they receive a payout from Shopitize.

According to Shopitize’s frequently asked questions section of its website, it currently pays out directly to a PayPal account or check. Note the interesting use of PayPal as a repository for digital-cash incentives.

Results, noted below as reported in this article, appear to be almost twice that of paper coupons. According to industry data, even the highest rates of grocery coupon redemption are under 9%. These results tend to validate Mercator Advisory Group’s own consumer research, which consistently ranks cash back rewards as having the highest value to consumers.

From Mobile Commerce Daily:

The app was piloted with 15,000 shoppers in Britain over a three-month period and saw an average redemption rate of 15 percent. It was opened up to the general public and currently features approximately 50 deals with a variety of different brands.

Click here to read more from Mobile Commerce Daily.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023
    credit card experiences, digital payments, b2b payments

    Will Consumer-to-Business Payment Trends Drive B2B Global Growth in 2023?

    January 23, 2023
    Faster Payments Faster Identity Verification, connected car, payments

    2023 Predictions: Authentication, Digital Identity, and In-Car Payments

    January 20, 2023
    bank data

    Interconnectivity, Data Sharing, and Security Are Vital for Banks to Thrive

    January 19, 2023
    B2B Payments, cryptocurrency

    Crypto as a Practical Solution to B2B Payments

    January 18, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Brighterion eBook - The power of today’s market-ready AI to reduce transaction fraud