Company of the Month: Plastiq.itFebruary 20 2020
Plastiq.it is a data platform capturing customer spending habits and patterns, offering merchants customer insights and cashback rewards for shoppers. They are looking to capture a slice of the $275 billion Australian retail market and had a public beta launch in November 2019. They currently have signed on more than 3,000 members, and 500 retailers onboard as well as strategic partnerships with Australian FinTech RAIZ Invest.
Members automatically receive cashback to their Plastiq account on their in-store or online purchases at participating merchants, without the need for merchant integration, loyalty cards or receipts.
Andrew Banks says Plastiq turns the existing model of data collection on its head.
“Plastiq removes the need for loyalty cards, coupon codes and manual reward redemption while providing real cashback right into the pockets of consumers. Plastiq uses leading online to offline technology that enables it to also collect data from in-store transactions, providing a wider range of data insights than traditional services,” he said.