In this conversation with Fintech Business Asia, Mark Jackson, Managing Director of Valuedynamx, discusses how card-linked rewards are reshaping loyalty and payments by delivering frictionless cashback experiences, strengthening customer engagement, and bridging online and offline commerce. He also shares insights on the growing impact of AI-driven personalization, real-time payments, embedded rewards, and omnichannel loyalty strategies in driving customer retention and long-term value for retailers and financial institutions.

Q: Quidco’s new in-store cashback experience removes the need for vouchers, promo codes, or manual activation. What changing consumer behaviors are driving demand for frictionless card-linked rewards ecosystems today?

A: We are currently witnessing a "convenience-first" revolution. Today’s consumers have a very low tolerance for friction in any experience, and in a climate where the cost of living remains a top priority for many, there is a growing demand for added value and rewards that doesn’t require extra effort or complex steps to unlock. People are moving away from traditional "manual" savings and rewards—like scanning QR codes or hunting for promo codes—and moving toward experiences that fit naturally into their existing shopping habits.

Consumers now view manual  steps as "work" they shouldn't have to do. Card-linked rewards meet this demand by making the technology disappear into the background after a single, upfront activation. When the cashback reward is triggered automatically just by using their preferred payment card, the experience moves from a transaction to a value-add. It’s about meeting the customer where they are, in the flow of their daily life, without asking them to change their behavior to earn a benefit.

Q: Valuedynamx already powers loyalty and rewards programs across airlines, banks, and financial institutions globally. What strategic advantages does card-linking technology provide compared to traditional cashback and affiliate reward models?

A: Traditional affiliate models often rely on a "click-through" or a specific "hand-off" from a loyalty portal to a retailer's site. Affiliate models have proven their value for decades and they absolutely have a time and place – they work best for online-only purchase journeys.

Card-linked offers (CLO) open up a different and complementary set of possibilities, particularly when purchases move in-store.  Through attribution, conversion, and cross-channel fluidity, we can provide retailers with a closed-loop view of how a digital incentive drives a physical purchase. For financial institutions, it increases the top-of-wallet status of their cards. If a customer knows their bank card automatically triggers a 5% reward at their favorite coffee shop or clothing store, that card becomes their default choice. Unlike traditional cashbacks, which can feel episodic or delayed, card-linking allows for a more continuous experience that strengthens the bond between the consumer, the brand, and the payment provider.

Q: The partnership allows Quidco members to earn rewards across more than 50 retail brands at launch. How important is merchant network scale in building sustainable and engaging cashback ecosystems?

A: Scale is absolutely critical because it drives utility. A loyalty program only becomes a daily habit if it provides value across a wide variety of spending categories; from dining and retail to tech and everyday experiences. Launching with over 50 brands ensures that Quidco members encounter reward opportunities where they already love to spend.

Building a sustainable ecosystem is about more than just numbers; it’s about the quality and relevance of the brands involved. By leveraging our extensive merchant network, we are able to offer a line-up of brands that keeps the experience fresh and engaging. For the program to be successful over the long term, it must provide a density of opportunities that makes the user feel like they are constantly earning, which in turn drives higher frequency and deeper brand affinity.

Q: As cashback and loyalty programs become increasingly data-driven, how are Valuedynamx and Quidco balancing personalization with consumer expectations around privacy, payment security, and trust?

A: Security and trust are at the heart of our card-linking technology. Because we work directly with the major payment networks, we use secure data feeds to identify qualifying transactions in near real-time. This allows us to trigger rewards without the consumer needing to share sensitive information at the checkout or manage physical coupons that could be lost or compromised.

On the data side, the goal is to enhance the member experience by making rewards more relevant. By understanding where and how members spend, we can surface offers that fit their lifestyle, rather than bombarding them with irrelevant noise. We believe that when consumers see a tangible, secure, and immediate return on their spend—like "real money" appearing back in their account—it builds a cycle of trust that is fundamental to modern fintech relationships.

Q: Embedded rewards are becoming a major trend across digital commerce and payments. How do you see card-linked offers evolving over the next few years, particularly as real-time payments and AI-driven personalization continue to grow? 

A: We have seen this card-linking model transform loyalty within the travel sector, and we are now seeing it branch into every aspect of how people spend day to day. In the coming years, we expect the "lag" between a purchase and a reward to disappear. As real-time payment data becomes even more granular, the settlement of cashback will happen almost instantaneously. We also project that rewards will become more "anticipatory." As we integrate more advanced data processing, we can help brands offer more personalized incentives at the exact moment a consumer is making a decision. Whether it's a thank you reward for a repeat purchase or a targeted offer to drive footfall during a specific window, the future of card-linked rewards is about making value an invisible, automatic layer on top of every transaction.

Q: With consumers increasingly blending online and offline shopping journeys, what role will omnichannel rewards play in helping retailers strengthen customer retention and spending frequency in a competitive retail environment? 

A: The distinction between online and offline shopping is fading for the consumer, and rewards programs must reflect that reality. Omnichannel rewards are the foundational glue required to build a continuous, lifelong relationship with the customer. When a member can earn cashback with the same ease whether they are tapping a card at a physical point-of-sale or clicking through a digital portal, it removes the cognitive load of choosing a channel, creating a truly unified brand experience.

For retailers, this is one of the most potent tools for retention available today. In an increasingly hyper-competitive landscape, the brands that offer the most frictionless rewards—those that sit naturally within the existing flow of how people already live and shop—will be the ones that capture the highest share of wallet. By embedding card-linked offers into the everyday journey, retailers drive higher spending frequency and ensure they remain top-of-mind. Ultimately, this transforms every transaction from a simple exchange of goods into a strategic opportunity to reinforce value, which remains the single most important driver of long-term loyalty.