Media Markt and Saturn owner Metro Group leads an investment in Yoyo Wallet, a London-based mobile payment and customer loyalty platform operating in the European market.
Launched in 2013, Yoyo allows customers to do fast and simple mobile ordering via app. It also handles payments and personalised loyalty programs. On the other hand, retailers get analytics and a campaign platfrom, and can also build Yoyo-powered retailer-specific branded apps.
"Yoyo has convinced a growing number of customers to deploy its data-driven payment and loyalty marketing solutions, including most recently, Caffè Nero, the third largest coffee retail chain in the UK," Metro says. "With its strong track record of deploying digital technology at the customer interface, Yoyo’s solution can have a meaningful positive impact on a wide spectrum of retail businesses, in particular in the food and beverage segment. As digitization becomes mainstream in hospitality, Yoyo’s technology is a strong candidate for currently untapped market segments. As part of our engagement, Metro intends to contribute to this deployment."
In total the Yoyo Wallet app has over 400000 registered users at over 1700 retail outlets. Most recently it provided the technology behind the Caffè Nero mobile app, which finds use across 640 stores in the UK and Ireland.