Alpha Bank and fintech Symphopay have completed the integration of the Alpha Shop instalment and loyalty programmes with the Symphopay payments platform, with the solution already implemented at major retailers such as eMAG and Intersport.
Merchants now have access to a platform that integrates POS payments with loyalty programs and increases sales while eliminating processing errors.
This partnership responds to consumers’ obvious desire for fast and simplified payments, as well as control over their benefits. According to a survey)* Mastercard, 90% of consumers believe it is essential that benefits are transparent and easy to use, yet only 43% feel this is actually happening.
In the Symphopay platform merchants can activate marketing and communication campaigns so that every transaction turns into a new sales opportunity. Also, advanced reporting and analytics on card transactions and payment behaviours will provide merchants with useful information for business decision making.
“Partnering with Symphopay helps us deliver a streamlined payment experience to merchant partners as well as new loyalty opportunities, with the solution directly connected to the Alpha Shop rewards program. Thus, purchases with debit and credit cards issued by Alpha Bank are rewarded with Alpha Shop points, which can be converted directly into products in partner stores” said Cristian Dragoș, Executive Vice President Retail, Alpha Bank Romania.
“By implementing advanced payment technologies, merchants develop major competitive advantages in building a long-lasting relationship with customers. Partnering with Alpha Bank accelerates the adoption of these technologies that redefine shopping experiences.” said Daniel Nicolescu, CEO & Co-founder Symphopay.
Launched in October 2016, Alpha Shop is the most innovative rewards program for Alpha Bank Romania customers who choose to pay for purchases using bank-issued cards enrolled in the program.
When paying by card, depending on the value of the purchases made and the type of card used, the customer receives a number of points that accumulate and depending on preference, can be used to be converted into gifts consisting of free products and services or significant discounts applied to the next purchases in the Alpha Shop partner network.