DFR will begin Phase One of the partnership by rolling out the new Loyalize payment channel to the ecommerce platforms of Maplin, Office Outlet and PRAKTIKA. The move looks to provide these retailers with a more cost effective transaction option and reward customers with an augmented user experience, and more loyalty benefits.
Slow processing, risk of fraud and costly transaction fees are some of the problems Loyalize’s new Pay by Bank scheme aims to solve by offering customers the option to pay directly and instantly from their bank accounts using a payment button, QR code or secure link.
For retailers, the benefits of this direct ‘bank transfer’ include instant settlement, savings of up to 80% against existing fees and 96% reduction in fraud rates, whilst without the need to enter payment information, customers also have faster user experience.
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