NatWest is to launch a national loyalty card scheme rivalling Goldfish,
the British Gas-backed multi-brand loyalty credit card.
The bank is working on a ‘consortium card’ loyalty programme which is
expected to be launched under a new brand.
The scheme is likely to use smart-card technology and will offer
consumers savings at a variety of companies, including retailers, a
public utility, a telecoms company, an airline and NatWest financial
The initiative will further polarise markets between companies with
loyalty schemes and co-branding deals, and those which have yet to find
suitable business partners.
The Goldfish loyalty credit card, a joint venture between British Gas
and HFC Bank, has secured Asda and Boots as redemption partners, while
Safeway and Abbey National are forming a separate loyalty block which is
also expected to include BP.
NatWest has over three-and-a-half million credit card users in the UK
and is known to be keen to use co-branding to increase its share of the
credit card market.
The bank has already linked up with Tesco and Orange and further deals
will be announced next year, following its decision last week to issue
American Express cards.
Karl Brown, head of card products at NatWest, would not be drawn on the
details of the consortium card scheme but said the bank was in broad
negotiations with potential partners.
‘It is something we have definitely looked at; it could be a very good
proposition for customers. We are in discussions and there will be
announcements on co-branded deals. We have some big names approaching
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