People’s Champion finalist 2016: Yoyo Wallet
Meet the mobile payments app that makes it easy for retailers to run loyalty programmes. Does it get your vote for?
Start-up name: Yoyo Wallet
Founders: Alain Falys, Michael Rolph
Started in: May 2013
Based in: London
Business description: Mobile-first payment, loyalty and personalised marketing platform
The Yoyo Wallet story:
Everyone loves a bulging wallet and Yoyo claims to be Europe’s fastest growing of the mobile variety, so founders Alain Falys and Michael Rolph should be feeling pretty excited right now.
The mobile-first payment, loyalty and personalised marketing platform for retailers, brands, and the consumers they want to serve positions itself as an ‘insight engine’ capable of delivering stacks of the customer data clients desire to inform strategic decision-making.
Used by UK universities, corporate catering firms, and set to announce a raft of deals with big name high street retailers there’s lots we’d like to tell you, but we may have to kill you (as we signed an NDA).
The business makes its money from a fee to use the Yoyo platform, and charges for point-of-sale transactions, in-app purchases, and permission-based marketing to Yoyo users.
Users get the seamless benefit of being able to make mobile payments and automatically collect points and receipts from participating retailers, and the loyalty points can be redeemed via in-app purchases and taking up personalised offers and discounts.
Why Yoyo Wallet made our shortlist:
The results for clients are compelling, with service speeds and footfall rising, thanks to reduced queuing time, and the average spend per transaction also higher.