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PAX GLOBAL TECHNOLOGY LIMITED

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PAX Global Technology : How the PAX ecosystem has enabled Payment Loyalty to disrupt conventional approaches to customer loyalty

02/24/2021 | 06:00pm EDT
February 25, 2021

PAXSTORE case study - Payment Loyalty

How the PAX ecosystem has enabled Payment Loyalty to disrupt conventional approaches to customer loyalty?

'Conventional loyalty programs had fallen way out of sync with modern customer behaviour and preferences. We knew that positioning the payment terminal at the centre of customer engagement was the key to delivering an effective retail loyalty solution for the 2020s and the PAX ecosystem made that possible.' - Tom Holt, CMO Payment Loyalty

What key problem does the Payment Loyalty solution solve?

Friction… Ask most consumers what they think of when mentioning a store-based loyalty program and there are normally two elements: firstly, a sign-up process, where customers are required to fill out some kind of form with personal contact details (name, address, email, mobile, etc) and secondly, an additional card/app to produce each time they check out in-store. This approach may have worked a decade ago, but today's consumers are much less inclined to hand over personal details. The rapid adoption of contactless payments makes 'tap and go' payment so quick and easy, that swiping/stamping another card at checkout has become much more of a burden.

So how does the Payment Loyalty solution work?

Key to our 'Nominate Loyalty' solution is the removal of all friction and any additional process at the checkout, both for the customer and for retail staff. In order to achieve this, Payment Loyalty have developed technology that uses customer payment cards as a proxy for a loyalty card - no additional cards to remember/swipe/stamp - and uses cutting edge payment terminals to deliver the customer's loyalty status each time they visit - eliminating need for staff to prompt customers at every visit.

We've based the Nominate Loyalty solution on a simple stamp-card style campaign, as it's such a well-understood concept among global consumers. Merchants use our secure, web-based Campaign Portal to create their own, custom branded stamp card campaigns, where they specify not only branding and design, but exactly how customers gain stamps (visits and/or spend level) and the reward or discount they'll get in return. Once the campaign has been created, it's pushed to merchant's PAX devices, using the PAXSTORE platform.

Once the campaign is live, customers are shown the stamp card offer when they checkout and asked if they want to nominate the payment card to collect stamps. It's a simple yes/no action on the part of the customer - no need for any personal data or long-winded sign-up process. Each time an opted-in customer visits, they're awarded a stamp and given a quick update following the payment. Key to elimination of unnecessary friction and time at the till is the fact that Nominate works via contactless (as well as chip & pin / swipe), as customers simply see their stamp card progress when they tap & go - no hanging around. The Nominate application not only awards customers stamps when they qualify but handles rewards/discounts without need for retail staff involvement.

How has PAX enabled Nominate Loyalty's route to market?

It's PAXSTORE however that is the real enabler in terms of scaling a solution like Nominate. Not only does PAXSTORE drive awareness of the solution across the global merchant/service provider markets, it enables superbly efficient deployment of the application to merchant terminals.

'Having worked in retail software for well over a decade, the Payment Loyalty team have struggled through many retail solution deployments, which are invariably large and costly projects. PAXSTORE eliminates most of the work-overhead traditionally associated with POS software deployment and makes the process simple and pain-free. Without the PAXSTORE platform, deployment of our solution at scale would be impossible' - Tom Holt, CMO Payment Loyalty

Disclaimer

PAX Global Technology Ltd. published this content on 25 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2021 04:17:09 UTC.


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Sales 2021 6 542 M 842 M 842 M
Net income 2021 1 053 M 135 M 135 M
Net Debt 2021 - - -
P/E ratio 2021 9,53x
Yield 2021 2,29%
Capitalization 10 070 M 1 296 M 1 296 M
Capi. / Sales 2021 1,54x
Capi. / Sales 2022 1,36x
Nbr of Employees 1 677
Free-Float 65,4%
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