Alternative Finances

Barclaycard And Flubit’s Digital Marketplace Team-Up

Barclaycard and London-based tech startup Flubit have teamed up to create a digital marketplace to help give smaller retailers greater access to cardholders.

This move expands on Barclaycard 's move into the daily deals market last summer. They launched  a service that enables merchants to target consumers with tailor-made discounts and promotions by making use of the Barclaycard customer database. The agreement with Flubit will now allow the service to exapand into a shopping platform that allows the little merchants to band together to take on their e-retail megasites Flubit users find the best price by finding products sites, entering their URL into Flubit and waits while the service negotiates the best deal it can get for the customer with its merchant members. Flubit additionally and hosts any transactions.By securing a deal with Barclaycard, Flubit and its merchant members will be exposed to 35 million cardholders - currently the site boasts a 60 percent retention rate, according to Finextra.

"Flubit is one of the most exciting new companies in the e-commerce space right now and its technology will allow us to build on what we have already created at bespoke offers to give all UK consumers personalised offers and create significant sales opportunities for UK e-tailers," says David Herrick, MD, digital marketplace, Barclaycard, says.

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The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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