Plexian has developed the Edge platform, which is an innovative loyalty program. Edge, which is primarily based on business opportunities created through Open Banking, uses card-linked services that collect transaction data and purchase patterns. Data is collected in order to create a better understanding of the user of Edge, and thereby be able to provide more personalized offers based on user data. Given that Plexian enters into partnerships with large member organizations where an existing user interface is already established, Edge is in a position to quickly reach a large number of users at a very low customer acquisition cost.
- Beneficial regulatory forces within large growing markets, such as the PSD2, where consumers are given the legal right to access their payment accounts through third parties. Enables third-party providers to access financial data and initiate payments. Further regulation, in order to fully implement EU’s Retail Payment Strategy¹, e.g. further promotion of cross-border European payment solutions, are expected.
- Plexian provides a platform-as-a-service solution named Edge, which uniquely uses data from all consumer purchases in both the physical and the digital environment, leading to comprehensive consumer data and the possibility to bring the benefits of digital commerce into physical commerce.
- Connecting consumers (receives access to exclusive offers and cashbacks), merchants (receives access to sales channels) and partners (receives access to customer data) through the Edge platform, creating a mutually beneficial service and product delivery channels.
- The B2B(2C) business model enables Plexian to leverage the partners’ established interface with the consumer, resulting in a cost-efficient conversion of the partner’s customers into users of the Edge platform, with low to none customer acquisition costs for Plexian.
- Established a partnership with Skånes Fotbollförbund and entered into a letter of intent with Coop Sweden, where the potential users from these two partners amounts to more than 4 million.
- The company is now targeting new partnerships, increasing the number of users of the Edge platform on the Swedish market and establishing capacity to deliver a cross-border product outside of Sweden.
1) ec.europa.eu/commission/presscorner/detail/en/QANDA_19_5555; https://ec.europa.eu/info/sites/default/files/business_economy_euro/banking_and_finance/200924-retail-payments-factsheet_en.pdf