Morrisons Share Price: Retailer to Offer Cashback to Halifax Customers

on Aug 29, 2013
Listen

iNVEZZ.com Thursday, August 29th: Halifax clients will start receiving cashbacks on their purchases from Morrisons (LON:MRW) and other UK shops from September. The bank’s customers will be able to get a discount as high as 15 percent if they pay with their Halifax debit or credit card. Other stores participating in the scheme include Argos, Marriott, and Ocado. Morrisons’ shares were trading little changed at 292.90p as of 08:38 BST.

The service, which Halifax has named Cashback Extras, is unique for the British market and will provide targeted retail offers based on shoppers’ banking data. The scheme is being run by Lloyds together with card-linked marketing gurus Cardlytics. Halifax has estimated that by providing tailored and relevant offers, its customers can save up to £100 in cashbacks over a year.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

eToro
**Start Investing The Social Way! >>**
FTSE 100 Watch: Syria Fears Drag Down Footsie FTSE 100 Watch: Footsie Down as Geopolitical Risks Grow

FOLLOW our top traders or BET against them.
http://nvz.bz/1cgV29L
The software will have access to the customer’s past purchases and will be able to create buying patterns for each individual. This would allow it to display marketing material, including vouchers and special deals specifically targeting a person’s shopping preferences, on his online bank statements. Another feature would allow retailers to make special offers and deals to people based on where they live by using postcode information.

In the United States, Cardlytics works together with around 400 banks and hundreds of restaurants,
retailers, and service providers. The company said in a news release on its website that incremental sales growth in stores which use the service has increased by up to 30 percent depending on the category.
!m[Shoppers’ Bank Data Stores Will Help Provide Targeted Offers](/uploads/story/5171/thumbs/pic1_inline.jpg)

“Cardlytics has been a great success in the US. Retailers have been enthused by the insight and precision
targeting offered by the model, together with the simplicity of participation. The ability to use an online media to generate measurable in store as well as online sales has been particularly valued, together with the very strong return on investment,” Charlie Humphreys, UK Managing Director of Cardlytics said in a statement. “The UK is one of the most advanced retail banking and retail markets so launching our platform here makes absolute sense. We look forward to working with banks, retailers and consumers to extend the benefits of Card-Linked Marketing to all,”
**As of 08:54 BST buy Morrisons’ shares at 293.20p**
**As of 08:54 BST sell Morrisons’ shares at 293.10p**

eToro
**Start Investing The Social Way! >>**
FTSE 100 Watch: Syria Fears Drag Down Footsie FTSE 100 Watch: Footsie Down as Geopolitical Risks Grow

FOLLOW our top traders or BET against them.
http://nvz.bz/1cgV29L

Ad

Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals.

Learn more
Finance & Banking Retail Stock Market