In a huge move for loyalty card holders, Qantas has announced
that their frequent flyer members will now be able to use their card to
withdraw cash, shop, and check-in for flights when the new chip cards are
rolled out later in the year.
With the advent of RFID chips, NFC swipe-and-go card
payments, and mobile check-in shopping, the movement towards a cashless society
is continuing unabated.
The Qantas chip cards will work in a similar fashion to a
pre-paid debit card – funds can be transferred to the card via bank account of
BPAY, including up to nine different currencies with locked in exchange rates.
But the really interesting aspect of this is what it will
mean to other companies who have robust loyalty programs. As the new technology
emerges and is integrated more fully across the nation, other companies can
work with this trend to increase users in their loyalty programs by enticing
them with more options than ever: the classic “What’s In It For Me?” consumer
mindset. This is a boon on many levels, as increased users also lead to
increased brand loyalty, as well as increased consumer data to help hone and
refine offerings.
It will be interesting to see how quickly these cards will
be taken up by the existing Qantas frequent flyers, and whether they are used
to their full extent.
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