sQuid, an electronic money operator, has introduced its contactless smartcard-based loyalty schemes nationwide.

As a result of the initiative, businesses, whether large or small, will be able to offer loyalty rewards to their customers. Loyalty schemes could include ‘cash back’ or a loyalty reward after a certain value of spend or number of transactions. Business owners can personalise the scheme with own-branded sQuid cards and get in touch with customers through a branded portal.

sQuid uses contactless smart card technology, providing customers with an online account where they can view their transactions and monitor their loyalty funds. sQuid's pre-pay system enables multi-functional smart cards, combining eMoney retail payments, ITSO (Transit) schemes, council smart card initiatives, plus retail loyalty programmes.

In 2009, sQuid launched its loyalty scheme trial with Coffee Republic.