Barclaycard readies instant rewards scheme
Barclaycard is to launch a loyalty scheme that allows its customers to redeem rewards accrued straight away in thousands of stores nationwide.
The retail rewards scheme, dubbed “Barclaycard Freedom”, will launch in March and will be available to the credit card firm’s cardholders to use in small and medium sized retailers as well as major chains
It allows customers to redeem points at point of sale using their credit card rather than by using vouchers, or a different card.
Customers will earn “reward money”, about 1% of the transaction, when they use their card at participating retailers, 30,000 of which have been invited to participate.
Consumers will see their balance on the card machine after a transaction takes place. Next time they use their card in a participating retailer they will see the value of their reward money balance appear on the card machine before they enter their PIN to pay. They can then choose to redeem some or all of their reward money towards that transaction or later.
The credit card firm claims the rewards scheme is the UK’s “broadest”, adding there will be 200 retailers within five miles of where a cardholder lives.
It will support the launch with television, online and print activity.
Barclaycard recently launched a marketing recruitment drive to support the launch of the new scheme.