By Aisling Finn on Thursday 6 August 2020
The partnership will allow customers to collect and spend Avios points on flights, hotels, upgrades, car hire and more.
Payments start-up Banked has today revealed a collaboration with British Airways Executive Club to help its customers collect Avios when they use their Banked account.
From today, customers who have a BA Executive Club membership will be able to collect Avios points every time they buy something at a Banked-supported merchant.
BA Executive Club members will earn 1 Avios for every £1 they spend with any merchant when they select Banked as the payment method at checkout.
Banked is building a digital payment network to challenge systems already in place and only carries a 0.1 per cent processing fee with every transaction, considerably lower than its competitors.
Brad Goodall, Banked CEO: “The partnership between Banked and the British Airways Executive Club is an enormous step forward for us as we expand our new digital payments network.”
“With 78 per cent of consumers making purchasing decisions based on loyalty points, being able to offer Avios through the Banked network will help our merchants increase conversion rates and improve customer loyalty.”
Founded in 2018, the London-based start-up sits in between banks, businesses and individuals to help manage the way financial data is accessed.