London, 29 December 2020. The UK sensible spending app, HyperJar, has appointed David Riddell as its new chief industrial officer.
Riddell can be answerable for service provider and partnership development, worldwide improvement and commercialising the corporate’s IP.
HyperJar’s present retailers embrace Shell, Virgin Wines, Dyson and Bloom & Wild, and Riddell’s remit covers accelerating the launch of present pipeline retailers and creating new relationships as the corporate continues to scale.
Previous to becoming a member of HyperJar, Riddell spent 25 years consulting throughout worldwide funds, loyalty, banking and retail sectors for purchasers together with American Express, Chase, Mastercard, Barclays Bank, Bank of America, Carrefour, Target and Tesco. He’s visiting Professor of Technique on the London Enterprise Faculty, and strategic adviser to a number of animal charities, along with proudly owning his personal animal shelter.
‘We’re feeling fairly happy with ourselves, luring David away from consulting to hitch us,’ mentioned Mat Megens, CEO and founding father of HyperJar. ‘His expertise in retail, loyalty and payments is unmatched. It’s solely two months because the app’s public launch and the introduction of Children Playing cards. We’re at first of a interval of big development and David’s strategic contribution to the management group, his connections and expertise, are going to play a big half in our future success.’
David Riddell mentioned: ‘It’s been comparatively straightforward to show down different alternatives to maneuver from consultancy to consumer aspect. HyperJar is the one firm I couldn’t say no to. It’s a once-in-a-lifetime alternative to revolutionise the funds and retail sectors, and their accelerating convergence, with a very transformational proposition.
‘Buyer loyalty has change into more and more predicated upon monetising transactional information to drive small incremental shifts in behaviour. This model neglects engagement and connection, and commoditises relationships. HyperJar reclaims and reinvents the dynamic between clients and the place they spend. Our proposition achieves the holy grail of loyalty: sustainable, mutually dependent relationships.
‘HyperJar reinvents the end-to-end value chains of funds and retailing. From the model of forward-intent advertising, to a game-changing digitalisation of jam jar budgeting, to loyalty-funded working capital finance. HyperJar is establishing a real loyalty economic system.
‘I am delighted and honoured to be given the opportunity to join the senior team and support the business on this journey.’
HyperJar Restricted (www.hyperjar.com) is a UK-based fintech firm. Its HyperJar sensible spending app is a simple, digital model of jam-jar budgeting with some tech magic inside.
After a profitable pilot and beta, the app launched to the general public in October 2020 with a number of technological improvements. These now embrace direct card funds from limitless a number of particular person Jars (sub-accounts), Shared Jars for 2-100 those who perform as instantaneous joint accounts and digital kitties, and a market-leading Annual Development Fee on ‘save now, buy later’ cash pay as you go to retailers featured on the platform.
In November 2020, HyperJar launched Children Playing cards, its pay as you go ‘pocket-money’ card for 6-17 yr olds. Managed through an grownup account, Children Playing cards can be utilized with Apple/Google Pay for kids aged 13+, and profit from zero month-to-month charges, zero load charges and nil charges for spending in different currencies.
Cash paid into HyperJar accounts is managed by Modulr FS Restricted, an authorised Digital Cash Establishment regulated by the Monetary Conduct Authority. As a instantly related participant to the Quicker Funds and Bacs schemes, Modulr holds and settles funds on the Bank of England.
Mastercard, the world’s quickest cost processing community, gives the cost rails for the HyperJar pay as you go card. Carta Worldwide receives and processes all of the Mastercard transactions. CashFlows Europe Ltd, authorised by the Monetary Conduct Authority, points the HyperJar card. TagNitecrest produces the HyperJar Mastercard.