Discover how How Exthand transformed the loyalty card into a payment method for retail sector.

Sector : Retail
Solution : SEPA mandate via an Open Banking Solution 

Their challenge:

A leading food retailer in Belgium sought to enhance its customers’ shopping experience by streamlining the checkout process, reducing transaction times, and optimising payment processing costs.

Their objectives were threefold:

1. Improve checkout efficiency by including a required payment method into their loyalty program, making transactions faster and easier.
2. Reduce checkout congestion by reducing wait times and simplifying the payment process.
3. Reduce transaction processing expenses by decreasing dependency on card payments.

How Exthand transformed the loyalty card into a payment method?

The project, step by step:

1. We created an authentication system that allows shoppers to connect their bank accounts to the retailer’s loyalty programme. This link enables direct debits for purchases made in-store.
2. We facilitated the integration of a seamless payment experience within the application. Upon scanning their loyalty QR code during the checkout process, customers are presented with an option to pay instantly through the app.
3. This feature, which is built into the retailer’s app, enables users to check out straight from their mobile device in less than ten seconds. 

The solution: White label Open Banking Solution powered by Exthand  for SEPA mandates.

The results:

1. 4,000+ users connected each month since January 2024.
2. Check out time at the cashier reduced by 30%.
3. Cost saving on processing payments fees.