Rewards app loyalBe restricts consumer operations

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The open banking loyalty app loyalBe is closing its consumer service and refocusing the company to target the B2B market.

The Belfast-based company will move its user base to Cheddar, a rewards and payment app for consumers. The business said that after carefully assessing our market positioning and long-term growth prospects, the decision to shift the focus to their B2B proposal was made. Users of loyalBe will receive emails and in-app notifications with comprehensive instructions on how to transfer rewards to Cheddar.

To expand into the Irish market, the business last raised EUR 1 million in April 2021. There is no information available about loyalBe’s user base’s size.

Read More: Rewards app loyalBe shuts down consumer operations

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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