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Nov 6, 2015 7:11 EST

Karrot: a free mobile loyalty application available on iOS and Android devices

iCrowdNewswire - Nov 6, 2015

Karrot

Karrot

The Idea

Karrot is a free mobile loyalty application available on iOS and Android devices that rewards users with mobile airtime credit for shopping at our retail partners stores. Karrot works on both Pre Pay & Pay Monthly accounts and is supported by all network operators in the UK.

We want Karrot to be the leading mobile loyalty scheme in the UK. We’re aspiring to a Nectar equivalent for the millennials. 

We’ve linked up with some of the biggest retailers in the UK, with a national foot print and plan to have top retailers coming onto our program over the next 3-6 months.

Karrot works on every major mobile network operator in the UK on both Pay as You Go and Pay Monthly and we are integrated into each operator allowing us to automatically credit a user’s mobile phone account.

The background of the founding team is in mobile value-added services, working with network operators for over 15 years on consumer solutions generating over £300m in revenue. We were responsible for the technology running Orange Wednesdays, one of the most successful and longest running mobile loyalty campaigns.  Our founders have had a number of successes in previous businesses and have floated and sold a number of technology companies in the mobile payments and loyalty space.

We are raising money to hit the ground running, we have funded the R&D and development of the product to date and we’re now looking for scale as we bring on major retailers.

Product / Service

We love our smartphones, but are far less enamoured with paying our phone bills. Most consumers view their phone bill as a grudge purchase, although mobile connectivity is fundamental to our daily lives. Without mobile connectivity, we would not be able to carry out the daily tasks which we have become so familiar with.

There has been a noteable uptake over the last few years in over the top (OTT) applications that bypass a network operators service for things like sms messages and phone calls. Regardless of how popular these apps are nowadays a user still has to pay their underlying airtime contract to provide them with connectivity.

Many consumers will have experienced the painful scenario of running out of credit, often towards the end of the month, leaving the user having no choice but to bolt on extra airtime or data. Using Karrot, credit earned from spending in retailers can be applied to a user’s phone tariff leading to no unnecessary connectivity drop-outs or just a credit, reducing their monthly phone bill.

For Consumers – intended benefits

Karrot is designed to reduce the pain of owning a smartphone. Everyone who owns a smartphone has to pay for it, whether its on Pay As You Go or Pay Monthly.

Karrot offers users a seamless multi-merchant loyalty program providing value back to them by reducing the cost of their mobile phone.

With Karrot users earn loyalty points based on the total spend the user made at that retailer and are available on all transactions made.

Once a user has collected enough points users can exchange these points for airtime credit which is automatically added to their mobile phone bill. Users will see a credit off their bill from Karrot.

In order to collect points users simply pair their debit or credit cards with our mobile application, opt in to the retailer’s loyalty program and then all they have to do is use their registered card when they choose to pay in store or online.

We track users purchases through the payment schemes ran by Visa and Master Card and collect transactions on a daily basis issuing points to users automatically.

No retailer technology integration, no extra processes at the point of sale, no need for outdated loyalty cards.

Supported Mobile Operators

  • O2
  • Vodafone
  • Three
  • EE

Mobile Virtual Network Operators

Tesco Mobile, Giff Gaff, Lyca, Lebara, Asda, Sainsburys, Virgin, Talk Talk.

For Retailers

Karrot aims to provide retailers with a  loyalty solution that can run along side their own programs to aid in driving repeat sales in their stores or online.

  • Provides incremental spend per customer.
  • Drives increase in frequency of transactions.
  • Act as a new way to acquire customers. 
  • Free to setup, quick to integrate and requires no investment in technology at the point of sale.
  • ROI can be measured extremely effectively and in near real time.
  • Provide a unique way of rewarding customers for their purchases.

Our analytics platform allows retailers to gain further insights into the types of consumers that shop with them in store and online and opens up additional behavioural and transactional habits and data.

For Mobile Network Operators.

  • We provide a truly mobile loyalty scheme to their subscribers reducing the actual cost of owning a mobile phone.
  • Karrot introduces the concept of retailer funded airtime.
  • Unique way to retain their users and provide additional benefit. Our mobile app is configured based on the user’s network operator.
  • Provide additional revenue streams to help increase ARPU levels for those users that are on Karrot. This is one of the network operators key metrics and is currently in decline.

Traction and achievements (to date)

  • Integration with all major network operators in the UK.
  • Visa & Master Card payment integration for tracking user transactions.
  • Platform built along with iOS / Android applications.
  • Commercial discussions with network operators to jointly market the product.
  • Our solution works with Apple Pay!

Partner Retailers

Below is some of the retailer partners we are already live with, and a we hope to bring a number of big names onto the program in the coming months:

  • Caffe Nero
  • Blue Inc
  • Officers Club
  • H Samuels
  • Ernest Jones
  • American Golf
Contact Information:

Adam Ward
Josh Graham
Neale Graham

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