Australian real-time payments and loyalty platform Hello Clever has teamed up with Tyro Payments, enabling shoppers at Tyro’s 70,000 merchants to redeem instant cashback rewards on in-store and online transactions through the Hello Clever app.
Hello Clever’s ‘Real-Time Cashback Rewards’ gives Australian shoppers at participating Tyro merchants the functionality to receive their rewards instantly, spend them immediately and withdraw cashback rewards directly to their bank account near instantly.
According to Hello Clever, more than 54% of loyalty-based rewards memberships are inactive due to a “perceived lack of value” in traditional points-based systems.
The combination of Hello Clever’s instant cashback rewards platform and Tyro’s ‘loyalty API’ ensures that customers get their money back “within seconds”, versus up to 90 days for typical rewards programs.
Research cited by Hello Clever found that 60% of customers plan to increase their reliance on rewards programs over the next 12 months, particularly cashback options, as Australian consumers face economic pressures.
Caroline Tran, chief executive officer of Hello Clever, said that, amid the current economic climate, shoppers are seeking instant rewards and benefits.
“Traditional loyalty-based rewards are often too complex and cumbersome to provide value for everyday purchases,” she said.
“As shoppers become more conscious of their spending, Hello Clever is committed to providing them instant rewards.”
Tyro’s chief growth officer Dee Bannatyne added: “We are thrilled to be partnering with Hello Clever on this initiative, providing rewards for our merchants and customers alike.”
