M&S and HSBC team up to enhance digital shopping experience
M&S has signed a new agreement with HSBC UK for its credit offering and payment solutions, and the bringing together of digital payments and loyalty for M&S customers for the first time.
The retailer said the move is the next stage in its transformation to drive loyalty and offer a more connected digital shopping experience for its shoppers.
M&S’s two million credit card users are among its most loyal customers, whose spending represents around 16% of turnover.
The retailer will work with HSBC to extend the work already done in building its credit offering by launching a credit card rewards membership called M&S Club Rewards. This will enable members to earn extra loyalty points, treat vouchers, and other benefits under the scheme, for a fee.
The new agreement will enable M&S to bring together rewards, Sparks, digital payments and credit to create a more personalised in-app experience where customers can shop, pay, earn and redeem rewards all in one place.
Over the last 18 months, the partnership has digitised M&S rewards vouchers and launched Sparks Pay which features in-store QR payment technology.
Katherine Carlson, director of financial services at M&S, said: “Over recent years, we’ve been working with HSBC UK to focus our offer so we can bring our customers the very best products, services, and rewards every time they shop with us. The new agreement will enable us to build on the work already done by bringing together loyalty and digital payments, and more seamlessly rewarding our M&S Financial Services customers.”
