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Credit card histories analyzed to offer personal deals

Retail

Bync encourages credit card owners to sync their bills to gain a better picture of how they spend money so they can offer deals at the places users like to shop.

Various supermarkets in the US have already monitored shoppers’ in-store habits in order to offer personalized prices. Now, Bync is encouraging credit card owners to sync their bills so that the company can gain a better picture of how users spend their money and can offer deals at the places they like to shop. Users signing up to Bync first give permission for the service to access basic information about their bank and credit card accounts. The startup then takes note of which brands the user likes, where they like to shop and which products they normally buy. Using this data, any available deals that match the user’s profile are delivered. The idea behind the site is that – while many daily deal services send offers in the hope that they are relevant – Bync knows which ones their users will actually be interested in. Although some may have reservations about handing their shopping histories over to the company, Bync collects information in the same way as standard supermarket loyalty cards. How else can consumers be targeted more accurately? Spotted by: Murray Orange

Website: www.bync.com

Contact: www.blog.bync.com/contact

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