HSBC to boost M&S credit card benefits via digitisation

credit: Shutterstock
credit: Shutterstock

HSBC UK and M&S have signed a new agreement that focuses on digitising the latter’s credit card and payment solutions to provide additional benefits for customers. 

The new agreement will enable M&S to bring its rewards and loyalty programme, Sparks, together with its digital payment and credit card offering in order to create a more seamless personalised in-app experience for customers. 

The app will allow shoppers to pay, earn and redeem rewards in a single platform, providing digitised vouchers with Sparks Pay through the integration of an in-store QR code. 

Paul Spencer, CEO, M&S Bank, said: “Our customers’ shopping and payment needs have continued to evolve in recent years, and offering more digital solutions and greater integration is key to meeting these needs. 

“To support this, over the past year we have launched the digital payment solution, Sparks Pay, for use across all M&S stores, in addition to shopping via M& and the app.”

“It has been fantastic working with our M&S retail partners to ensure our customers get the best and most integrated customer experience and we’re excited about the potential of what’s to come, as we work together even more closely to make it even easier for our customers to shop, pay, earn and redeem rewards with M&S, all in one place.” 

Over recent years, the partnership with HSBC UK has focused on transforming M&S’ financial services offering to deliver a more relevant and modernised experience for M&S customers. 

M&S will work with HSBC UK to build on its credit offering through M&S Bank. This will include the launch of a credit card rewards membership, M&S Club Rewards, with members earning extra loyalty points, treat vouchers and more under the scheme, for an additional fee.

Jose Carvalho, Head of Wealth and Personal Banking, HSBC UK, added: “Working alongside M&S, we have been supporting the financial needs of M&S shoppers since 2004. 

“During this time, the M&S financial services offering has continued to evolve and today we’re proud to combine market-leading lending and payment solutions with the M&S rewards enjoyed by so many customers. 

“Together, we’ve created a unique offering designed specifically for M&S shoppers, and we’re looking forward to building on what has been delivered to-date as we continue to evolve to meet the changing payment and borrowing needs of millions of M&S customers.”