ING has purchased Belgian digital loyalty platform Qustomer as part of its larger strategy to boost mobile payments.
Financial terms for the acquisition were not disclosed. Qustomer allows users to collect and redeem loyalty points from shops and retailers via a physical card with a QR code or the Qustomer mobile app.
“The transaction is part of ING’s strategic priority to increase the pace of innovation to serve changing customer needs by working with both dedicated internal teams and with outside partners and startups,” said Rik Vandenberghe, chief executive of ING Belgium, in a September 9 news release.
Qustomer comprises a 12-person team and serves 800,000 users. Across Belgium, more than 1,000 retailers use its tablet-based POS device.