Mobile payment and loyalty marketing platform Yoyo Wallet now processes 1.75m transactions each month, and is set to hit the 2m mark before the new year, the company has revealed.

Yoyo, founded in 2013, has also reached more than 700,000 years – over 370,000 of which are active monthly – representing a 75 per cent increase in just six months.

The London-based company has partnered with retailers, like Caffè Nero, Planet Organic, and Harris + Hoole, on their mobile apps. With these retailers, Yoyo powers between 10 and 22 per cent of overall transactions.

“Our growth in the last six months reflects an evolving understanding from retailers around what loyalty, based on consumer identity and their purchasing profile, can do for a business,” said Alain Falys, co-founder and CEO of Yoyo Wallet, speaking at Money2020. “Loyalty is no longer points, stamps and net loss. Through Yoyo, loyalty can now act as an engine for business growth.”

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