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Yoyo has fended off competition from Apple Pay, MasterCard and Lloyds Bank to win the Most Innovative Retailer Implementation of Emerging Payments accolade at the 2018 Emerging Payments Awards, highlighting how companies like Caffè Nero are utilising Yoyo-powered apps to successfully inject real added-value into their customers’ payment experience.
The Emerging Payments Awards celebrate innovation, collaboration and emerging payments by recognising companies that have made significant advances in how we pay today.
At an awards ceremony, which took place at the Hilton London Park Lane Hotel on 10 October 2018, Yoyo was named winner of the Most Innovative Retailer Implementation of Emerging Payments award after creating the Yoyo-powered Caffè Nero payments and loyal app, which launched in April 2017.
Also in the running for the award were Apple Pay in partnership with Sodexo, Mastercard with Co-op (which was highly commended), Lloyds Banks Cardnet, and CashStar in partnership with Johnston & Murphy.
The Yoyo-powered app has given Caffè Nero a massive edge on its competitors, with the UK’s third largest coffee chain now delivering a seamless and fast mobile payment experience, automated loyalty collection and digital receipts to hundreds of thousands of its customers.
At the same time, Caffè Nero is gaining unique basket data insight into who its customer are, what they like to buy and when. They’re then using this basket data insight to run highly personalised marketing and CRM campaigns through the app, crucially judging success, not by traditional marketing metrics but in actual changes to customer purchasing behaviour.
This latest win follows a string of award successes for Yoyo and the Caffè Nero payments and loyalty app in the last year, with the teams picking up three gongs at the Retail Systems Awards in June, winning Best Customer Experience Strategy at the CIM Marketing Excellence Awards in April, and taking home the award for Most Effective Loyalty and Rewards Campaign at the Effective Mobile Marketing Awards in November.
Michael Rolph, CEO and co-founder of Yoyo, said: “We’re thrilled to have been recognised at this year’s Emerging Payments Awards and especially excited as we were up against some stiff competition from the likes of Apple Pay and MasterCard.
“We’ve always said that adding value to the payments experience is imperative for the future of high street retail. And while the big payments and tech companies have been quick to adapt to mobile, too much focus has been placed on how to make transactions work, which so far has failed to deliver this added-value.
“What makes Yoyo unique is our ability to identify every shopper at the point-of-sale through basket-level data insight technology. Retailers are then able to utilise this data to segment, engage and personally reward customers based on their purchase behaviour.
“Through Yoyo-powered apps, retailers like Caffè Nero are delivering added value payment experiences to their customers that instantly and personally rewards consumers for their loyal custom at the point-of-sale. And its Yoyo’s plan to put these personalised experiences into the hands of as many high street consumers as possible.”
To see the full list of winners at the 2018 Emerging Payments Awards, click here.