BNP Paribas rolls out its CashBack programme with Paylead
French bank BNP Paribas has just announced the launch of its new CashBack programme called "Mes Extras". Aimed at its individual customers, it has been developed on the basis of a partnership signed with the FinTech specialist in bank data analysis PayLead. An offer that comes at the right time to convince in the current context.
FACTS
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“Mes Extras” is presented as BNP Paribas' new rewards programme for its retail customers in France.
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Developed in collaboration with PayLead, it will enable BNP Paribas to automatically reward its individual customers each time they use their payment cards or direct debits to make purchases from numerous partners (more than 100 major retailers such as Carrefour, Castorama or Picard).
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"Mes Extras" allows customers to benefit from a 5% CashBack applicable without a minimum purchase amount, and paid directly into the account of the French bank's customers (in the form of a monthly payment within 30 to 90 days after purchase).
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Activation of the "My Extras" feature is free and takes just a few clicks within the BNP Paribas "My Accounts" application. This application then allows customers to consult the amount of their accumulated rewards, as well as the special offers available from partners.
CHALLENGES
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An effort in favour of purchasing power: The launch of the BNP Paribas and PayLead offer comes at a time when inflation is making the headlines and with it the question of the decline in the purchasing power of the French. "Mes Extras" is a response from BNP Paribas to help its clients deal with this situation.
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Building loyalty: This functionality should serve the French bank as a lever for building loyalty. As a specialist in banking data analysis, PayLead is also committed to providing BNP Paribas with information to help refine its customer knowledge and personalisation.
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Upgrading its traditional offering: Until now, loyalty programmes were reserved for subscribers to the Lyf payment service, which had made it its trademark, or for Hello Bank customers. With this new offer, BNP Paribas is opening up this type of benefit to all of its green bank customers.
MARKET PERSPECTIVE
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This announcement comes at a time when BNP Paribas has also just announced that it will freeze all its banking fees for individual customers in 2023.
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On the specific subject of cashback, offers have multiplied in recent years, particularly in France by alternative FinTech players. But BNP Paribas cannot claim to be the first traditional player to offer this type of service in France, whereas Société Générale, LCL and Crédit Agricole presented theirs several years ago.