Cross River to buy loyalty platform Accrue

Cross River Bank, a major player in the backend technology that powers many consumer lending and BNPL apps, is acquiring the loyalty platform Accrue. This move signals a shift in how financing providers want to interact with your customers. For retailers, this means the line between 'payment methods' and 'loyalty programs' is disappearing. Accrue specializes in rewarding customers for specific payment behaviors, such as saving up for a purchase or using specific financing tools. By integrating this technology, Cross River plans to offer merchants more ways to keep customers coming back without relying solely on traditional discounts. Instead of just providing a loan at checkout, the goal is to create a cycle where the payment process itself earns the customer rewards for their next visit. For operators, this acquisition suggests that future financing offers will come bundled with built-in retention tools. You should expect your financing partners to start offering 'loyalty-as-a-service' features that help reduce your customer acquisition costs and increase lifetime value.

Source: Finextra — Lending

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