Payback and Nectar
Wulet is not the only company to try and include many companies in an aggregate loyalty program. Let’s take a quick look at two of the leading loyalty programs in Europe, to see what they have come up with and what Wulet has to offer in comparison.
Payback is a Munich-based multichannel marketing platform and loyalty program. Payback uses different types of media from newsletters to a smartphone app to communicate with its members. It also has a card, which allows members to collect points at different retailers like TripAdvisor, Amazon, American Express as well as over 100 different online and offline retailers. It also boasts 7 million active app users.
In contrast Nectar, one of the biggest loyalty programs in the UK, allows customers to collect points per pound spent at a rate of 1 point per £1 at Sainsbury’s and at other rates depending on the retailers using their Nectar card. These points may then be redeemed at the counter in certain stores, or put towards a discount in others as well as used in any of the 400 participating online retailers using the Nectar app or card.
Both companies are most successful in the nations that they were founded in, with Payback appearing in 2000 in Germany, and Nectar in 2002 in the UK. Nectar boasts at least 16.8 million users, while Payback estimates 30 million active customers in Germany, with both companies continuing to attract new members.
Payback has been successful in other countries like Poland, where it now has more than 300 retail partners in 5,000 different locations. After it was taken over in 2011 by American Express it also saw success in India, Mexico, Italy and the USA. Nectar made an attempt to expand to Italy in 2010, but closed the scheme in 2016.
Here at Wulet we have learned from the success of these two companies (and others) and are continuing to develop and grow. Wulet also has a convenient app where all your bonus points can be stored and exchanged, plus these points can be monetized and used as diversely as you wish. Though these are two of the biggest loyalty schemes in Europe and in the case of Payback, they have expanded, our global economy calls for a program which is completely universal. One of Wulet’s main advantages is that you don’t have to pick and choose. Thanks to the Wulet exchange you can collect points from absolutely any store, and trade them for points which you wish to use in another, no matter what country you’re in. You are guaranteed to get the most out of your bonus points and be rewarded for your loyalty to any brand, and above all save money and use your points as you see fit.