Flux, the London fintech startup founded by former early employees at Revolut, has deepened its partnership with U.K. challenger bank Starling to add Flux-powered loyalty points to Starling’s mobile banking app.
It builds on earlier Flux integration that sees Starling support item-level digital receipts powered by Flux and supported merchants (to date, this includes all 111 EAT stores in the U.K. and Bel-Air).
Here’s how the new loyalty functionality works: Once you’ve enabled Flux within the Starling app, you simply spend at supported merchants using Starling and any loyalty rewards you earn are automatically displayed in your Starling account alongside a fully item-level digital receipt. After you have accrued enough loyalty to qualify for a free item, Flux will send cash-back to your Starling account on behalf of the Flux retailer.
The idea is to make loyalty stamps digital in the same way as receipts, which not only reduces cumbersome use of paper, but also speeds up the checkout process and makes loyalty something you — as the customer — never have to really think about.
This tallies with research undertaken by Deloitte, which Flux is citing, that says although 41 percent of U.K. consumers use brand loyalty schemes, an estimated 10.3 million people possess unused loyalty points which total more than £4.5 billion.