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Financial Chat Fintech Chat
1

Has anyone much experience with Bink?

They seem to offer two things:

  • store all loyalty cards in one place to be able to scan them and see points balances
  • add payment cards, so that if a payment is made on a linked card it automatically adds the points.

Not tried it out yet to see how good it is, but got recommended it for the first point above.

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2

I use it, it’s pointless as nothing seems to update and not much is linked.

3

Does it work for at least keeping your wallet lighter?

4

I guess so, just things like Nando, Starbucks, Costa, KFC etc don’t auto link so I have the app

Tesco, Nectar, Avios, GBK do link oh and Beefeater

1 Like
5

You can do this with Google Pay and I assume Apple Pay, too.

6

I’m fairly anti giving Google my transaction history, so other options are welcomed :slight_smile:

7

You don’t. They give a scannable version of your card on-screen so you don’t have to use the physical version. They get no data.

8

Even knowing which cards I have is more than they had before. I would prefer to keep my financial life and Google 100% separate :+1:

9

I’d not heard of Bink before, but it looks a good start!

http://newsroom.barclays.com/r/3698/barclays_announces_strategic_partnership_with_payment

10

Barclays really seem to be genuinely engaging with Fintech (Flux is one other example, they were part of the Barclays Accelerator incubation program).

3 Likes
11

Snagging Megan from Starling will help as well :joy:

3 Likes
12

They recently bought a big chunk of marketinvoice as well. That business has a disruptive model which could cannibalise Barclays’ margins, so they are taking the bull by the horns by investing and partnering with them.

I can’t help but feel like there’s an elephant in the room though, or should I say unicorns in the room. For the last 5-10 years all the big banks have been dismissive of fintech and now they can’t really afford what they want to buy. That is - Monzo, Revolut and N26.

Instead they are just partnering with tiny little sandbox developers and getting a few headlines, but will millions of people be using Bink in a couple of years time? :thinking:

13

I guess no one knows what the future holds.

I think 1 or 2 of the FinTechs will survive and carve out a small portion of the pie, but once the legacy banks have most of the big attractions (decent app, instant notifications, 3rd party integrations) etc, it makes the “sell” of a relatively small, quite new “challenger bank”, that much harder.

14

Sky News: Lloyds to take minority stake in banking loyalty app Bink.