Mobile payments with integrated loyalty schemes

yoyowallet.com

Sector

ICT/Digital

Source

Imperial College London

Investment stage

Series A

Yoyo Wallet (‘Yoyo’) provides mobile payments systems with integrated loyalty schemes.

It was founded in 2013 at Innovations by a team of highly experienced entrepreneurs from the credit card and payments industry, led by Innovations’ Venture Partner Alain Falys.

The company has created an app that offers a better experience for retail customers, simplifying and speeding up in-store transactions by combining payment and loyalty in one easy scan. It also provides a marketing platform for retailers that enables digital customer engagement in-store. Retailers gain access to a set of tools that enables them to better target their customers through loyalty rewards, offers and incentives.

Crucially in a noisy mobile payments space, Yoyo offers not only mobile payments, but also adds value to consumers and retailers by integrating loyalty and engagement respectively. For example, retailers at no additional transaction cost, and with a small monthly per till fee for the EPOS software, gain a host of detailed transaction data about their customers and their purchases which current payment systems don’t provide. Yoyo’s personalised basket data thus transforms customers from anonymous purchasers to individuals with habits, tastes and motivations who can be targeted with offers and loyalty programmes. In turn consumers gain from the fast payment transactions, get to consolidate and maximise their loyalty/deals effortlessly in one app

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