M&S and HSBC UK have inked a new deal which aims to drive loyalty and offer a more connected digital shopping experience for M&S customers
In a statement, the firms said the collaboration will focus on M&S’ credit offering, payment solutions and bringing together digital payments and loyalty for M&S customers.
M&S’s two million credit card spend incrementally more than customers without a M&S credit card and representing 16% of M&S’ turnover. As part of the deal, the retailer will work with HSBC UK to build on its credit offering through M&S Bank.
This will extend on the work already done including the launch of a credit card rewards membership with members earning extra loyalty points, treat vouchers, and more under the scheme, for a fee.
The new agreement will also enable M&S to bring together rewards, Sparks, digital payments and credit to create an easier to access and more personalised in-app experience for customers where they 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 – a digital payment solution, with 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.”
Jose Carvalho, Head of Wealth and Personal Banking, HSBC UK, said: “Together, we’ve created a unique offering designed specifically for M&S shoppers, and we’re looking forward to building on what has been delivered to-date as we continue to evolve to meet the changing payment and borrowing needs of millions of M&S customers.”
