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M&S and HSBC UK partner to streamline credit card payments

By Gloria Methri

April 11, 2024

  • Credit Card Payments
  • Credit Card Reward
  • digital payment
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HSBC, HSBC UK, M&S, Digital Payment, Credit Card Payments,  Sparks, Financial Services, FinTech, UK, EuropeMarks & Spencer has signed a new agreement with HSBC UK, which is focused on its credit offering, payment solutions, and integration of digital payments and customer loyalty.

Over recent years, the partnership has focused on transforming the M&S financial services offering to deliver a better, more relevant, and modernised customer experience. The latest announcement is the next stage in the transformation to drive loyalty and offer a more connected digital shopping experience for M&S customers.

The company will work with HSBC UK to build on its credit offering through M&S Bank. This will extend the work already done, including the launch of a credit card rewards membership, with members earning extra loyalty points, treat vouchers, and more for a fee under the scheme.

The new agreement will enable M&S to bring together rewards, Sparks, digital payments, and credit to create an easier-to-access and more personalised in-app experience for customers where they can shop, pay, earn, and redeem rewards all in one place. Over the last 18 months, the partnership has digitised M&S rewards vouchers and launched Sparks Pay – a digital payment solution with in-store QR payment technology.

Katherine Carlson, Director of Financial Services at M&S, said, “Over recent years, we’ve been working with HSBC UK to focus our offer so we can bring our customers the very best products, services, and rewards every time they shop with us. The new agreement will enable us to build on the work already done by combining loyalty and digital payments and more seamlessly rewarding our M&S Financial Services customers.”

Jose Carvalho, Head of Wealth and Personal Banking, HSBC UK, said, “Working alongside M&S, we have been supporting the financial needs of M&S shoppers since 2004. During this time, the M&S financial services offering has continued to evolve. Today, we’re proud to combine market-leading lending and payment solutions with the M&S rewards enjoyed by so many customers. Together, we have created a unique offering designed specifically for M&S shoppers, and we’re looking forward to building on what has been delivered to date as we continue to evolve to meet the changing payment and borrowing needs of millions of M&S customers.”

Paul Spencer, CEO of M&S Bank, said, “It has been fantastic working with our M&S retail partners to ensure our customers get the best and most integrated customer experience. We are excited about the potential of what’s to come as we work together even more closely to make it even easier for our customers to shop, pay, earn and redeem rewards with M&S, all in one place.”

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