Troubled High Street retailers are being undone by lack of loyalty scheme the boss of app with 1 million users has said!
Yoyo boss Michael Rolph has hit out at cash-strapped high street retailers for failing to deliver customer expectations.
Rolph, whose mobile payment app has 1 million users, claims that just 15 per cent of retailers offer a loyalty programme – despite the fact more than 90 per cent of the UK population use them!
He believes addressing this mammoth gap would give the hard-hit retailers a financial shot in the arm.
Yoyo, which began as a pilot at Imperial College in 2013, has developed into one of Europe’s fasting growing mobile payment and loyalty schemes, generating customer engagement and satisfaction.
This booming app has secured a number of partnerships with banks, caterers and retailers – including Caffe Nero.
The move to a loyalty app has an eco-side as it cuts the need for the millions of plastic loyalty cards produced and issued each year.
Michael Rolph started his career at Barclaycard and has advised start-ups Azimo and The Currency Cloud as well as established names like Skrill and high street banks on innovation. He is also an advisor to Firestartr.