PaymentsSource: A London startup tests open banking rewards with U.K. banks, retailers

“Flux is an interesting company with an attractive proposition to — at least some — retailers, banks and consumers,” said Zil Bareisis, a senior analyst with Celent. “For merchants, it can help run a frictionless loyalty program, which is good news for consumers, who also can get full digital receipts at their fingertips. For banks, visibility into SKU-level detail of what the customer is buying, takes their understanding of customers into a whole new level. However, getting that detail has never been easy – it requires retailer participation and integration into their POS systems.”

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