Starling a great Flux for digitised loyalty rewards
This integration marks the second stage in their partnership. Last September, the duo unveiled real-time digital itemised receipts for the bank’s customers.
The latest service will display loyalty stamps in the Starling app when a customer pays with their Starling card at any of Flux’s retail partners, which include all EAT stores.
To back up its ambitions, Flux cites research from Deloitte that 41% of UK consumers use brand loyalty schemes, with one in four shoppers doing so once a week or more. According to the research, an estimated 10.3 million people possess unused loyalty points which total more than £4.5 billion.
Flux works by delivering receipts, including item data and VAT, plus applicable loyalty reward stamps from retailers to customers through the mobile apps of partner banks.
Customers who have added Flux directly from the Starling Marketplace can pay as normal for items that fall within the loyalty scheme. Once the customer has earnt their free item, Flux will send them automatic cashback straight to their Starling account on behalf of the Flux retailer.
It says customers will “never have to remember to bring or show a loyalty card again”. Which is handy as technology has reduced people’s memories to the level of a goldfish.
Flux was founded in 2016 by Tom Reay, Matty Cusden-Ross, and Veronique Barbosa. “They met when they were employees one, two and four respectively at Revolut.”
The firm was part of the 2017 Barclays Accelerator powered by Techstars. To date, Flux says it has raised $1.5 million in seed funding – including from PROfounders, Anthemis and Techstars.