Orange is causing much debate in the financial services sector with its launch of the UK’s first major contactless pre-paid card.
Among its many virtues, the card will allow customers to make fast payments on the high street, without the worries of carrying cash or spending beyond their budgets. These qualities are particularly ideal for first-time card users. Also, by allowing customers to manage the Orange Cash card from their phones, people can keep up-to-date on activity at any time.
More than that, however, Orange clearly understands the importance of securing customer loyalty. Orange already offers a contactless credit card, so the company is not moving into contactless banking for the first time here, rather it is extending its reach. The key is to ensure card users recognise the value in the relationship. Given that Orange Cash can be used in over 30 million locations that accept MasterCard – in the UK, abroad and online – cardholders will be able to regularly use the service, and enjoy the consequent benefits of the rewards points. When your customers feel rewarded by a relationship with your company on a daily basis in this way, loyalty is sure to follow.
Director, Collinson Latitude