Payment processing company, Mercury, is launching what it claims is the industry’s first card-less loyalty solution that integrates mobile and social technology into POS systems (view press release). Dubbed MercuryLoyalty, the solution has been created specifically for small to medium-sized businesses (SMB) to increase revenue and customer retention using social and mobile technologies. This is designed to put them on the same loyalty marketing playing field as big box retailers, which aims to allow them to attract new customers, retain existing customers, better understand buying behaviours, improve customer engagement and measure ROI, all automatically. MercuryLoyalty also creates differentiation opportunities and a new revenue stream for Mercury’s developer and reseller partners.
To use the solution, customers must sign in at the merchant’s POS using a mobile device, which instantly credits and rewards their transaction. The data from the purchase is then collected together with their previous shopping history, including information from any previous card-based loyalty system, and stored in memory for the life of the POS. It also supports Mercury’s patent-pending, closed-loop coupon redemption process. These tools aim to provide cumulative intelligence that helps merchants reduce operating costs and support issues while creating highly customised offers to loyal customers based on past purchases and anticipated future needs.