Founded by Temasek in strategic partnership with DFI Retail Group, minden.ai has launched yuu Rewards Club, a free and easy to use loyalty platform uniting Singapore’s most popular brands, to offer consumers with an effortless way to earn rewards on their everyday purchases.
The tech venture coalition partners BreadTalk Group, DBS Bank, PAssion Card, Mandai Wildlife Group and Singtel.
yuu enables consumers to earn points and rewards from almost every purchase, ranging from groceries and health and beauty buys to F&B purchases.
The loyalty platform includes over ten brands and 1,000 places to enjoy rewards at, such as supermarkets including Cold Storage and Giant, convenience stores such as 7-Eleven F&B outlets including, BreadTalk, Food Junction and Food Republic, health and beauty outlets including Guardian Health & Beauty, as well as public attractions, including Mandai Wildlife Reserve.
In conjunction with the launch of the loyalty platform, yuu and DBS bank have released the DBS yuu Card, a new co-branded credit card, designed to help members earn and accumulate rewards at a much faster rate.
S’poreans are increasingly looking to join rewards programmes
yuu comes at a time where three in four Singaporeans are worried about the current economic climate, according to a study commissioned by minden.ai.
This concern is especially prominent among millennials and Gen X respondents.
To save money, 60 per cent of Singaporeans are increasingly looking to join rewards programmes. Additionally, 86 per cent of Singaporeans also prefer rewards programmes that are easy to use and feature brands that they know of.
Two in three of them also want to redeem points on everyday spending.
With yuu’s unique concept of a coalition loyalty programme that offers consumers greater convenience
and flexibility, consumers will be able to earn points and accumulate them at a faster pace through yuu’s wide network of partner brands.
Consumers then have the freedom to redeem money-saving deals, offers and rewards across the same network.
“yuu Rewards Club leverages technology and a strong partner ecosystem of household brands to deliver exceptional value to consumers and businesses,” said Sng Ren Yeong, CEO of minden.ai
“Consumers will be able to enjoy new shopping experiences and personalised rewards on their purchases, and merchants can achieve better business outcomes.”Sng Ren Yeong, CEO of minden.ai
How does the rewards platform work?
yuu operates on a simple and transparent “SG$1= 1 yuu Point” earn rate.
To earn yuu points, consumers simply need to download the yuu app, register for a yuu account, and have their unique yuu ID (QR code or barcode) scanned by the cashier or at a self-checkout kiosk before making a payment at participating yuu partner stores.
Consumers will be able to view their yuu Points balance on the app instantly and access exclusive in-app
offers and rewards that award bonus points and accelerated earn rates.
Additionally, there will be no cap or limit on the number of yuu Points that can be earned. These points can be stackable for every purchase.
However, yuu Points will expire in two years from the date of points awarded, if not utilised.
Accumulated yuu Points can be used to offset purchases or redeem rewards, yuu Rewards, offered by yuu partner brands, such as cash vouchers, coupons and item rewards.
Multiple rewards can be used in the same purchase and usually in conjunction with any other in-store offers.
yuu Members may also choose to donate their yuu points towards community projects and charitable causes, such as PAssion CARES, a ground-up “Pay-It-Forward” initiative driven by the People’s Association (PA) via the yuu app.
Earn bonus points from partner stores
If yuu members use the DBS yuu card for payments, they can earn up to 30x the points at participating yuu partner stores.
In a year of rising costs, the launch of yuu is incredibly timely. We’ve designed the DBS yuu Card and the PAssion POSB Debit Card so customers get as much value as possible from their everyday spends, including getting bonus points for shopping at some of Singapore’s most popular brands and iconic attractions.Mr Anthony Seow, head of payments and platforms, consumer banking group (Singapore), DBS Bank
Meanwhile, yuu Rewards Club has also joined hands with PAssion Card. All PAssion Card Holders and PAssion POSB Debit Card members can link their PAssion Card to their yuu accounts, and convert their existing TapForMore (TFM) points into yuu Points.
One TFM point is valued at 1.33 yuu Points. TFM points are scheduled to be phased out by 30 April 2023 – all points will expire by then.
Hence, Singaporeans are encouraged to convert all TFM points into yuu Points.
The collaboration between PAssion Card and yuu is not only timely, but a progressive move as PAssion Card takes one step forward in its digitalisation journey to strengthen its engagement and touch points with PAssion Card members.Kia Siang Wei, group director (partnership), People’s Association
Other than DBS and PAssion Card, all its other brand partners are also rolling out new initiatives to allow members earn points faster.
For example, yuu members will get access to exclusive offers from Singtel such as 50 per cent off a new Singtel Family Pack, and ten per cent off Mandai Wildlife Group’s premium membership programme, the Friends of Wildlife Plus membership, among others.
Interact with the brand and engage in fun activities
To celebrate the launch of yuu Rewards Club in Singapore, pop-up events will be organised across the island where consumers will get a chance to interact with the brand.
There will also be fun games where people can earn points and redeem prizes. yuu will set up the event at Plaza Singapura, from 27 to 30 October, Our Tampines Hub, from 1 to 6 November, Compass One, from 7 to 13 November, and Great World City, from 7 to 20 November.
Featured Image Credit: yuu