Christopher Kronenthal, CTO and President of FreedomPay, speaking at the RetailEXPO in London today reveals shifting the emphasis from a purely ‘tactical approach’ to ‘supporting technology’ holds the key to unlocking the true value of loyalty – increasing revenue and preventing customer churn.
FreedomPay, the global leader in secure commerce technology for lodging, retail, restaurants, stadiums and other hospitality merchants, presents its revolutionary solution for customer loyalty to help retailers survive today’s tough marketplace at this year’s RetailEXPO in London.
Featuring a leading ‘open’ Customer Centric Commerce platform, FreedomPay is set to help retailers across the UK and Europe transform their loyalty programmes to bring them closer to customers than ever before.
The current challenge
Retailers are faced with multiple challenges, from globalisation that is rapidly shaping the payments landscape, the ever-evolving technology and a wide variety of payment options, to customers’ demand for a seamless experience, multichannel buying, and data transparency. News of yet another prominent High Street retailer shutting up shop comes as no surprise as companies struggle to compete with internet sales which now make up over 20 per cent of all retail spending.
Customer loyalty is not what it used to be. Pure marketing-based loyalty programmes are not enough and fragmented customer experiences as well as poor customer recognition are only hindering brands from getting closer to their customers.
Building a new customer centric loyalty model
FreedomPay believes that the customer is king and core to every company’s operations and product development. The Customer Centric Commerce platform is the latest innovation that enables brands to connect all customer-facing functions and place a powerful identity engine to deliver next-generation real-time connected commerce and loyalty.
Unlike traditional models, this platform has the ability to perform the following:
- Consumer identification within any digital or physical consumer-facing environment including POS, call-centre, in-store, online or via mobile apps
- Delivering alternative payment methods or currencies
- Connecting payments of value to the customer helping brands determine frequent purchasers and offer on-the-spot rewards without a loyalty card
Christopher Kronenthal, President and CTO of FreedomPay said:
“With the right architecture, non-sensitive payment data flows can be linked through to CRM and loyalty systems, overcoming many of the issues associated with traditional federated systems. With FreedomPay’s platform, this capability can be delivered at scale without the need to tear-up and replace incumbent business critical systems.
“Technology is transforming brand loyalty and engagement with customers. For brands to survive in today’s highly competitive environment, they need to execute loyalty as part of their business operations and build a connected commerce platform by placing customers right at the centre of their business.”