A London university has become the first in the UK to roll out combined mobile payments and loyalty rewards.
The prestigious Imperial College London has partnered with POS company pointOne and Yoyo, an app that allows students to pay and collect reward points with their mobile phones.
Go deeper with GlobalData
Yoyo co-founder Michael Rolph commented: "There is a perception that there are millions of companies out there who do what Yoyo does, but the fact is that Yoyo is the only app combining payment and loyalty to make mobile relevant for in-store retail.
"With Yoyo, retailers sell more, waste less and provide a great customer experience. We’re really pleased to be providing Imperial’s staff, students and visitors with a simple way to buy goods, earn rewards and share them using their mobile phones."
The app was launched at Imperial at the beginning of the week and according to the three-way partnership registered user numbers now stand at 4,000.
The payment and loyalty app is out-performing contactless cards across the campus, handling in excess of 30,000 transactions each month.
Steven Rolfe, MD at pointOne, said: "The partnership with Yoyo demonstrates our commitment to delivering products and services to our customers that realise their true potential.
"Yoyo’s mobile payment and loyalty application enables retailers to harness a fast growing technology that will increase footfall and average spend per head.
"Sharing many synergies, we both have a passion for offering innovative hospitality solutions and we will work closely together to offer a unique solution to retailers."
Yoyo says it will be rolling out across many of London and the UK’s leading universities before the new academic year, and is also in discussions with a number of high street retailers.
Related articles:
PayPal and QikServe partner over mobile payments for food and drinks in the UK
PayPal and Samsung select Nok Nok Labs for mobile payment system
Optimal Payments inks five-year payment service deal with Ontario Lottery and Gaming
