UK Card-Linking Services Close
Two UK card-linking services, Sainsbury's Nectar Connect and Swapi, are shutting down, potentially affecting the emerging Australian market.
September 19, 2023
Card-Linking Innovations in the UK to Cease Operations
Two prominent card-linking services in the United Kingdom, which could have influenced the burgeoning Australian market, are shutting down.
Nectar Connect by Nectar Loyalty
Nectar Loyalty, owned by Sainsbury's, is discontinuing its open banking service, Nectar Connect. This service allowed customers to link their payment cards through open banking, facilitated by TrueLayer, a provider that has since exited the Australian market. Through this program, users could earn up to 30 points per pound spent with a wide range of merchants. The service is scheduled to terminate in October.
Swapi Closure
Additionally, Swapi, a pure play in the card-linking field, has also announced that it will be closing down. The closure marks another reduction in the number of players in international card-linking markets.
