Barclaycard launches “groundbreaking” loyalty scheme

by Gill Montia

Story link: Barclaycard launches “groundbreaking” loyalty scheme

Barclaycard is launching a “groundbreaking” new loyalty scheme which the group claims will be the broadest retail rewards scheme the UK has ever known.

With no joining fee Barclaycard Freedom will be available to over eight million cardholders from March.

According to the lender, as well as household names, a great many small and medium retailers (including online) will be participating.

Rewards will be recorded in pounds and pence, rather than points, and calculated at 1% on most transactions.

The scheme operates from the point of sale and Barclaycard customers will not need to replace their cards or carry an additional one.

After a transaction takes place, the cardholder will usually see their new Reward Money balance on the card machine.

Next time they use their card in a participating retailer they will see the value of their Reward Money balance appear on the card machine before they enter their PIN to pay.

At this point, they can choose to redeem some or all of the Reward Money towards the transaction or withhold it for a future purchase at another retailer within the scheme.

For participating retailers, Barclaycard Freedom provides the opportunity to offer rewards and relevant offers at their point of sale to over eight million cardholders.

The launch will be supported by a marketing campaign with TV, online and print advertising.