Payments platform says deal is ‘crucial milestone’ in its mission
Banked partners with BA on Avios
London-based payments platform Banked has sealed a deal with British Airways Executive Club to introduce a new way of collecting Avios reward points.
Members of the BA Executive Club will be able to collect Avios every time they make an online purchase with a Banked merchant.
Customers input their BA Executive Club number in the Banked checkout before being redirected through to their banking app for verification – allowing customers to collect and then spend their Avios on rewards such as flights, upgrades, hotels and car hire.
Banked said this partnership is a “crucial milestone” in its mission to build a “new and improved digital payments network”.
Banked’s account-to-account payment software was launched last month and claims to offer businesses a faster and more secure way of making and receiving payments in real time, with just 0.1% card processing fees – a fraction of the market rate.
Launched in 2018, Banked is already integrated with most UK banks including Barclays, HSBC, Santander and NatWest.
Individuals can use the free Banked app to create payment links, and start requesting money without sharing any personal banking details.
Brad Goodall, Banked chief executive, said: “The partnership between Banked and the British Airways Executive Club is an enormous step forward for us as we expand our new digital payments network.
“With 78% of consumers making purchasing decisions based on loyalty points, being able to offer Avios through the Banked network will help our merchants increase conversion rates and improve customer loyalty.”