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Cape Town-based startup Yoyo has announced the launch of its new bank card-linked loyalty solution for SMEs in a statement.
The company is set to take the offering to over 1 million small businesses
“Yoyo is a result of the joint forces of wiGroup, founded in SA in 2007 by Bevan Ducasse, and Yoyo Wallet in the UK, now coming together as one global company with Bevan at the helm,” Carla Thiele, Head of Marketing for Yoyo told Ventureburn.
New loyalty feature
The company has been creating reward SaaS solutions for over 10 years – offerings that now include over 5 million monthly active users from well-known global corporate clients such as Vodacom, Burger King and Dunkin’ Donuts.
Yoyo CEO Ducasse commented on the launch in the statement. “The trend for customers is towards simplicity and speed of checkout, as seen with the rapid adoption of tap-to-pay” he said. “We, therefore, decided to link loyalty to this, which enables earning into the retailer’s loyalty programme seamlessly on the back of a bank card payment. No additional cards, no additional steps,” he explained.
Retailers can unlock powerful insights through Yoyo’s dashboard and campaign management tools, driving higher transaction values and frequency of spend, through an enriched view of customers.
This puts tier one analytics within the reach of every client, offering a competitive advantage at a critical time for the beleaguered physical retail sector.
“Providing a rewarding buying experience to gain rich insights is how we grow spend and increase the lifetime value of customers for our clients. This is what we set out to do as a company,” Ducasse said. The company is set to take the offering to over 1 million small businesses in their current operating regions.
“We’re excited to extend the solution to small merchants, as we have witnessed the challenges of keeping businesses open in the current climate,” emphasised Ducasse. “We are therefore hopeful we can play our small part to get customers returning and spending more at their local merchants.”
Ducasse stated that loyalty is not about jumping through hoops, “…it’s about relationships – consistent, mutual, and meaningful. Rewarding with loyalty should be seamless and communicate, ‘we appreciate you adding value to our business, and therefore want to thank you for your loyalty.’ ”
Featured image: Yoyo founder and CEO Bevan Ducasse (Supplied)