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BP, Cineworld and Caffé Nero among the first to sign-up to Natwest and RBS Loyalty scheme

by on August 13, 2013 in Advertising, CRM, Lead story, Marketing, Retail News, Tech

Natwest and RBS have announced the nationwide roll-out of Cashback Plus, which is being billed as the UK’s first debit-card linked loyalty scheme.

Cashback Plus enables the two banks’ 12 million customers to earn at least 1% of their spend back on qualifying purchases in BP, Cineworld, Caffé Nero and 9 other high street retailers, with more slated to join the scheme in the near future. Natwest is also offering points to savers on their grocery shopping at Tesco for the first three months of the scheme will be managed by data monetisation company Reward, which built the system.

Once the debit card has been activated online, the offers are automatically loaded onto the Cashback Plus account and linked to the debit card. Targeted offers are made available from participating retailers based around customer’s shopping habits, with the aim of delivering relevant and timely offers to customers.

Greater value rewards

Cashback earned can subsequently be transferred back into the customer’s current account, traded up for greater value rewards, or changed in to cash and donated to some the UK’s leading charities including the NSPCC.

“We want to reward our loyal customers for banking with NatWest and RBS, but we also want to give our new customers an offer that won’t fizzle out just after signing up,” said Allan Hardie, Head of NatWest and RBS Current Accounts. “This simple reward scheme requires no separate loyalty card and it’s completely free. Customers will get value back on something they do every day – using their debit card.”

“We are very excited about rolling out Cashback Plus to the rest of NatWest and RBS’ customers,” said Gavin Dein, Founder and CEO, Reward. “By having a single focus on rewarding customer loyalty, RBSG and Reward have been able to drive profitable incremental sales to some of the UK’s largest retailers and achieve RBSG’s core banking objectives.

This programme is also a great show case for our Card Linked Offers Platform and our ability to turn big payment data into meaningful insight for all stakeholders.”

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