Turning transactions into savings. Creating a payment infrastructure for meaningful customer savings with Utility Warehouse
Utility Warehouse (UW) provides essential home services across the UK, help customers save time and money on their bills.
In an era of rising living costs, UW’s practical, money-saving solutions resonate with over 1 million customers who benefit from consolidated services and customer discounts.
SOLUTION USED:
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BIN Sponsorship
The business need
UW required a card-issuing partner to enable access to their cashback network and provide savings on living costs.
In order to provide these services, UW also needed to hold customer balances, which requires specialised licensing. These regulatory requirements presented a potential barrier to offering seamless financial solutions.
At PSI-Pay, we pride ourselves on deep industry knowledge and scheme expertise. With robust compliance oversight and experience in large-scale programs, we were delighted to support Utility Warehouse in their mission.
The solution
We provided UW with a complete BIN Sponsorship service, safeguarding* customer funds and issuing cashback card.
The cards enable customers to save money through cashbook offers on everyday purchases such as groceries and fuel.
Our team continues to handle all of the regulatory and compliance aspects, allowing UW to concentrate on expanding their customer base and network without distractions.
With £7.7 million in annual customer savings already achieved and monthly settlement volumes exceeding £50 million, our partnership with UW continues to flourish and expand – proving that when payment expertise meets customer-focused innovation, everyone benefits.
*Safeguarding of funds is ensured by the EMI authorisations in UK and Europe.
Average top cardholder savings by year calculated using the average cashback earned between 01-01-2024 to 29-12-2024 (52 weeks) by the top 10% of active account holders (customers who used their card at least once a week during this period). This figure excludes customers who won 100% cashback through the Cashback Magic promotion.
Cashback earned each year based on annualised cashback earnings paid to customers between 29-06-2024 to 29-12-2024.
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