Mobile Loyalty and Payments all in one app? | DMA

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Mobile Loyalty and Payments all in one app?

We’re here to report on another mobile wallet app launched earlier this month: Zync Wallet. It’s become a crowded landscape but this one has a twist: it’s an all-in-one solution combining contactless payments with loyalty offers and vouchers.

There is some work for consumers to do with the initial set up to start an account and load money via direct debit or transfer. This has the benefit, though, of working for people that like to spend within a budget – so you only transfer as much as you can spend.

On the merchant side, the major benefit is no new hardware to install. To make an in store payment, the merchant adds up the total on their business app, POS or on the web portal, while the user enters the security PIN to unlock their app and then generates a unique barcode for the merchant to scan. The merchant validates the users’ photo and then they’re good to go. Sounds straightforward but we’re wondering if it will be challenging to educate/train all of the sales staff on the new process?

The product has the added benefit of integrated loyalty offers and voucher codes and the discounts are calculated within the app making it very easy to run promotions for small businesses.

We look forward to seeing how adoption takes off…with a round of Series A funding potentially on the way, the CloudZync start up could be on to something hot.

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