Flybuys announces closure as member retailers go it alone

(Source: Flybuys NZ/Facebook)

Loyalty scheme Flybuys will exit New Zealand at the end of the year, after serving Kiwis for over 28 years.

“The landscape for loyalty programs has changed, and continues to change rapidly, with businesses now having greater access to technology and capabilities that enable them to create their own highly tailored proprietary loyalty programs,” said Lizzy Ryley, CEO of Loyalty NZ that runs Flybuys.

“The Flybuys model of a services and retailer alliance has run its course, so will close at the end of this year.”

The company said that customers can still earn points until 11:59 pm on October 31 and can redeem points until 11:59 pm on December 31.

Insurance company IAG New Zealand has agreed to acquire some of the assets of Loyalty New Zealand, which will transition to closure alongside Flybuys.

IAG New Zealand will also offer employment opportunities to about one-third of Loyalty New Zealand’s staff.

The acquisition will take place after Loyalty New Zealand has been wound down and is expected to improve the insurance company’s service to customers and business partners.

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