Why Perkbox chose Fidel API to reduce friction for employees at the point of purchase, and provide businesses with a clear ROI
With Laura Camfield, Product Manager at Perkbox
- Human Resources
- London, UK
- $ 12.2 M
Perkbox helps employees live better. In life and at work. Using Perkbox, businesses attract, engage and retain their best talent with all the things that make for a winning company culture — perks, employee benefits and great rewards. In fact Perkbox is so good, all Fidel employees are members!
Seizing new opportunities for a better employee experience
With over half a million employees and over 8,000 employers on their platform, Perkbox wanted to increase engagement by making the redemption experience smoother for employees.
When it comes to redeeming perks, the user journey is not always simple and seamless. Employees log into their Perkbox account, select an offer and then, depending on the type of perk, either purchase a gift card or download a discount code before going to the partners website or shop to spend. These steps mean that some employees are dropping off during their redemption journey or not engaging with the platform at all.
For Perkbox customers, being able to see their return on investment was a crucial reason for choosing Perkbox. But with online discounts, Perkbox isn’t able to track whether a purchase was made and how much was saved.
In addition, Perkbox saw an opportunity for growth and differentiation by adding local, small and medium retailers to its catalogue of perks. But, many of these businesses didn’t have the technological capability to submit offers via the Perkbox platform to its more than a million employees.
“Without Fidel API’s technology, we would have no way to include local, small and medium businesses on our platform.”
Going big: Supporting scale while reducing employee drop-off
Using Fidel API’s Select Transactions API, Perkbox launched a new way to save — “PerksGO”.
Now all employees need to do to benefit from the Perks platform is link their payment card once and they can save when they shop. It’s free, secure and takes seconds. They can shop as normal, their earnings will automatically arrive in their Perkbox wallet. They can then use those savings to pay for other perks like gift cards on the platform.
This is expected to go a long way to reducing Perkbox customer churn as the redemption experience is seamless for employees, and employers can see how much their employees have saved each year with PerksGO.
For retailers, they can easily see how many & how often customers are redeeming perks. Using Fidel API’s business enrolment dashboard, Perkbox has already onboarded more than 350 local small and medium businesses, all without the need for any additional hardware or multiple integrations.
The first phase of this card-linking programme launched in London to 700 customers with over 18,000 employees. Perkbox will continue its rollout city by city across the UK as they build their partner network, and eventually across other countries. Perkbox will also add in-app notifications in April so employees can see in real-time the rewards they have earned.