Barclaycard plans to launch a loyalty scheme in the next 12 months that uses the chip on the card to offer instant rewards, according to a Retail Week news report.

“The scheme must be simple and convenient for customers, with no need to have vouchers and coupons. It must utilize the power of the chip inside the credit card to be totally electronic, instant and incredibly intuitive to the cardholder. We’ve all collected different rewards over the years in a wide range of schemes and, for most of us, we will only ever redeem a few of them – I have no desire to add to the points mountain,” said Antony Jenkins, Barclaycard chief executive.

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