P&I Postscript

RETAILERS’ LOYALTY PROGRAMS: get a new payment option this week, as HSBC North America launches a retailer-branded card that doubles as a loyalty card and a payment card. The card, called OptiPay, lets retailers track a shoppers’ purchase history and offer customized rewards based on past purchases. Shoppers use the same card to pay for purchases, a first for the industry. Consumers choose from a variety of loyalty and payment options when they register for the card, which will carry the retailer’s own brand. HSBC Retail Services division collaborates with loyalty marketing firm Concept Shopping, Inc. to marry the promotional and payment functions for OptiPay.