Headquarters: Sydney, Australia, with offices opening in Singapore soon
Category: Start-up backed by high net worth investors
Industry: Financial Technology
OpenSparkz is a start-up that operates in the card-linked space. Located in Sydney, OpenSparkz works with organizations wishing to provide merchant funded offers to their customers, and then engages directly with the merchant community to develop bespoke card-linked offer solutions.
How does your company fit into the card-linking or online-to-offline commerce ecosystems?
OpenSparkz is a card linked, enablement technology platform, servicing the loyalty and offers ecosystems. Our platform works for online, offline and online-to-offline, and supports multiple offer types – miles, points, cashback, vouchers, P2P payments, charities etc.
Who are you trying to reach?
OpenSparkz is reaching out to two segments:
(i) Loyalty programs that have 3rd party merchant participants. These could be airline programs, retail coalition programs etc. Typically these programs require the consumer to produce a separate loyalty membership card at the point of sale, and the merchant has to capture the card and transaction details and send data files to the loyalty program. This where OpenSparkz can help – by removing the need for a separate loyalty card AND removing the need for 3rd party merchants to modify POS as well as capture and process data.
(ii) Organizations that may not have a loyalty program, but do provide 3rd party offers to their customers. Typically there are challenges around ease of participation for merchants as well as sales attribution. The OpenSparkz platform addresses both of these issues by making it easier and more cost effective for merchants to participate as well as providing accurate measurement.
How will your company approach online-to-offline commerce that is new or different?
Our approach is to be an enabler. To assist and support companies that already have a loyalty program and/or already make offers to their customers. We assist by removing friction and cost from the system and creating better experiences for both consumers and merchants.
What are some insights or challenges in implementing of your solution?
OpenSparkz is a start-up, so we face all the challenges that start-ups normally face. We are pleasantly surprised, however, with the level of market traction we have had so far with global brands who are targeting growth in the Asia Pac region.
Operating in Asia brings its own challenges. It’s incredibly diverse culturally, not just from country to country, but within countries. Understanding this diversity, and being sensitive to it, is imperative to doing sustained business in Asia. We benefit by being on the doorstep of the Asian region both from a travel perspective and operating in a similar time zone.
What are some new projects for this year?
We have lots on the go and expect to make some announcements very soon.
We are also giving a lot of R&D focus to SKU level (product level) rewards and offers. Payment schemes don’t deal with SKU level data, but merchants and OEM’s want SKU level offers and rewards. It’s an industry wide CLO challenge.
How will the online-to-offline commerce industry develop over the next five years?
The way we see it the global loyalty and offers industry is evolving (albeit slowly) from being program or brand centric to being customer centric. The focus is shifting from what is the best program to what is best for the customer. This means looking at the whole of the customer’s journey around their spending patterns.
Card-linking is well positioned to be a key element in accelerating this evolution.
Is there anything else you would like CardLinx members to know?
We are a start-up and our website is under construction! If you want to contact OpenSparkz, email CEO Terry McMullen at: [email protected]