Tesco Bank launches innovative new way to shop for 20 million Clubcard members
10 January 2022
- All 20 million Clubcard members can now apply for Tesco Clubcard Pay+ online
- Since a limited launch of the product in March 2021, almost 45,000 accounts have been opened, with more than £24 million of transactions made
- Tesco Clubcard Pay+ enables shoppers to pay, save and pick up extra Tesco Clubcard points
- For the first 3 months after opening an account, shoppers can collect double Clubcard points in Tesco with Tesco Clubcard Pay+
- Customers can collect Clubcard points on almost all purchases in and outside of Tesco
- Transactions can be rounded up so shoppers can save when they shop
Tesco Clubcard Pay+, a new way for shoppers to pay, save and pick up Clubcard points, pretty much every time they spend, is now available for all shoppers to apply.
An innovative first for the UK market, Tesco Clubcard Pay+, provided by Tesco Bank, is a smarter way to shop. 20 million Clubcard members can now apply online following a successful phased launch which began in March 2021 with a limited number of customers and Tesco colleagues.
Shoppers can add money and ringfence their grocery spend from any UK bank account into their Tesco Clubcard Pay+ account, using the free Tesco Bank mobile banking app. Tesco Clubcard Pay+ also gives shoppers the power to save while they shop by rounding up their purchases to the nearest pound, saving the difference into a Round Up account. Tesco Bank also plans to introduce additional features to Tesco Clubcard Pay+ which will further help families to budget and save, whilst being rewarded for their spending.
Almost 45,000 accounts have been opened by shoppers since its initial launch in March 2021. Over £24 million has been spent on 1.2m transactions using Clubcard Pay+ at Tesco and other retailers. Customers have so far collectively saved over £213,000 into their Round Up savings accounts, and Tesco Clubcard Pay+ has been used to pick up over 5.25m Clubcard points nationwide.
Gerry Mallon, Chief Executive, Tesco Bank, added: “Tesco Bank has designed a smarter way for Tesco’s 20 million Clubcard members to shop. Tesco Clubcard Pay+ is a clear demonstration of Tesco Bank’s strategy to focus on products which closely align to the needs of Tesco shoppers. We’re very encouraged to see Tesco Clubcard Pay+ help give shoppers the confidence to start saving while managing their budget and picking up extra Clubcard Points wherever they shop.”
Alessandra Bellini, Chief Customer Officer, Tesco, said: “Tesco Clubcard Pay+ combines a new method of payment with all the value of Clubcard membership and a range of additional features. It enables households across the UK to feel more in control of their finances and their grocery budget. It also gives families and shoppers the power to make their money go further through Clubcard points and saving while they shop.”
Notes to editors:
The combination of features offered by Tesco Clubcard Pay+ is unique in UK retail and banking. These include:
Pay – Tesco Clubcard Pay+ comes with a debit card which customers can use anywhere they would normally shop using a debit card. Shoppers can add money to their Tesco Clubcard Pay+ account by simply linking any UK bank account to it using the Tesco Bank mobile banking app.
Save – Payments made using Tesco Clubcard Pay+ can automatically be rounded up to the nearest pound. So ‘spare change’ goes into a Tesco Bank savings account, which customers can add to from other accounts, and is accessible via the Tesco Bank mobile banking app. This can help customers who might find it difficult to start saving.
Rewards – With Tesco Clubcard Pay+ shoppers can pick up Clubcard points both in and outside Tesco. And, for the first 3 months after opening an account, shoppers can collect double Clubcard points in Tesco with Clubcard Pay+. That’s an extra 1 Clubcard point for every £1 spent. Terms and conditions below.
Shop – The Tesco Bank mobile banking app is also connected to the Tesco Grocery & Clubcard App, where shoppers can instantly take advantage of offers in store and online. Using the mobile banking app, Tesco Clubcard Pay+ account holders can ringfence their grocery spend into their Clubcard Pay+ account, access their balance and identify opportunities to save money in Tesco stores with Clubcard prices, putting more pounds in their pockets.
Tesco Clubcard Pay+ account holders will receive a debit card which will also act as their Clubcard, replacing their current Clubcard. Tesco Clubcard Pay+ uses the Tesco Bank mobile banking app to deliver the latest security measures and technology to give customers confidence and the highest levels of protection from fraud.
Customers also have the power to pick up Clubcard points outside Tesco. Collected points can be spent in Tesco stores and online to help customers save money on their grocery bill, or customers can get three times the value with Clubcard Reward Partners, with over 200 partners including many restaurants, shops and family days out.
Tesco Clubcard Pay+ is provided by Tesco Bank and is available to Tesco Clubcard members who are resident in the UK and aged 18 or over. The account can be applied for online and should only take a few minutes, with no impact on a customer’s credit rating. Accounts are subject to status.
Clubcard Points Terms & Conditions: The Tesco Clubcard Pay+ debit card is also a Tesco Clubcard, so shoppers will collect the normal 1 Clubcard point for every £1 spent in Tesco (in store and online) and also 1 Clubcard point for every £8 spent outside Tesco.
3 month offer: For the first 3 months (100 days to be exact) after an account is opened shoppers will collect 2 Clubcard points for every £1 spent using the Tesco Clubcard Pay+ debit card on qualifying products in Tesco and on Tesco Fuel (excludes Esso). That’s 1 extra Clubcard point for every £1 spent. After 100 days, they will go back to the standard Clubcard points collection rate for using Clubcard Pay in Tesco and on Tesco Fuel (1 Clubcard point for every £1 spent).
Clubcard points are calculated on each purchase transaction and the standard collection rate is subject to change. Exclusions apply and there are some products at Tesco points can’t be collected on. See the Tesco Clubcard website for details.
The Tesco Clubcard Scheme is administered by Tesco Stores Limited, Tesco House, Shire Park, Kestrel Way, Welwyn Garden City, AL7 1GA, who are responsible for fulfilling Clubcard points.
Round Up: The Round Up functionality can be switched on and off within the Mobile Banking App. Round Up transactions won’t occur in every instance, some exclusions apply.