PAY AND REWARD WITH NEW WALLET
WOOLWORTHS is extending its suite of products in the high-growth fintech sector with the creation of a digital wallet linked to its Everyday Rewards loyalty program.
After last month unveiling its standalone payments system called Wpay, which aims to leverage Woolworths’ position as the nation’s fifth largest processor of card payments, it is launching a new service.
Called Everyday Pay, the digital wallet is expected to be trialled at a number of its supermarkets in the next few months.
The digital wallet will be made available in the Everyday Rewards app and will offer customers a way to pay and earn rewards points.
Using Everyday Pay, loyalty scheme members will be able to load their credit, debit and gift card details along with payment preferences in the app.
The digital wallet will then take over when customers scan the QR codes on payment terminals at checkouts.
A spokesman for Woolworths said its new digital wallet would help streamline checkouts and speed up the shopping process.
“We know speed and ease through the checkout are increasingly important to our customers amid their busy lives. We have a team developing a new digital wallet to offer a fast, simple and secure way to pay and earn Everyday Rewards points at the same time,” the spokesman said.
Everyday Rewards has more than 13 million members and chief executive Brad Banducci is eager to build the program to cover a number of payments, data and other loyalty features.
Woolworths will increasingly use the Everyday logo to broaden its fintech offerings, after earlier this year launching its own online marketplace, called Everyday Market. Although the new Woolworths digital wallet has a name that recalls the popular Afterpay, there are no plans as yet for the retailer to build its own buy now, pay later product.