|By||| Jul 12, 2012 | News|
Previously known as an app that allows merchants to reward customers for their loyalty at the point-of-sales without the hassle of handing out respective loyalty cards, Taggo is now positioned as a Fan Club application for Facebook.
Taggo now converts any existing Facebook fan page into a loyalty program Fan Club by linking the customer’s Facebook account with their mobile number, and making this information easy to access at the retailer’s point of sale.
An exciting progress of Taggo features Paypal as one of its new clients. Paypal has now bundled Taggo into their new mobile payment servce in order to attract more merchants and customers. Paypal is the first company to purchase service from Taggo, and other payment brands and banks are expected to follow soon.
This means that Taggo will no longer recruit merchants directly since Paypal, the client is already doing this. Since Paypal has large teams of people around the world dedicated to developing relationships with merchants, Taggo can grow globally without needing to hire thousands of people to pound the streets in hundreds of cities.
“Our business model is now clear and tested,” says CEO and founder of Taggo, Aneace Haddad. “Taggo is free for merchants, as the service is bundled into the fees that they normally pay for credit card processing. Payment brands like PayPal sponsor the service because they get merchant funded offers that attract users and increase share of wallet.”
Merchants want more fans and free word of mouth advertising on Facebook. Therefore, partnerships between merchants and Taggo have also seen discounts bigger than what is typically seen with credit card offers.
PayPal is at the beginning of their deployment with few retailers using their service (including Taggo). Since this is only its new launch, larger numbers of retailers are also predicted to sign up quickly.
When other payment brands come on board, Paypal will also promote Fan Club services to retailers, which gives them a choice of whether to have a Fan Club powered by PayPal, or powered by Visa, or NETS, DBS, Citibank, etc. Any payment industry player could power merchant Fan Clubs through Taggo, and get better deals for the company’s cardholders, signifying an exciting future of Taggo’s developments.
Featured Image Credits: Video Communication Tools