M&S and HSBC UK have partnered to augment credit, payment, and loyalty solutions for customers, aiming for a seamless digital shopping experience. Up until now, the partnership has concentrated on revamping M&S financial services to provide an improved, pertinent, and modernised experience for customers.

This announcement marks the next phase in enhancing loyalty and providing a more integrated digital shopping experience. Rewarding and driving loyalty M&S will work with HSBC UK to build on its credit offering through M&S Bank. This will extend on the work already done including the launch of a credit card rewards membership - M&S Club Rewards – with members earning extra loyalty points, treat vouchers, and more under the scheme, for a fee.

A connected shopping experience 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. Since 20023, the partnership has digitised M&S rewards vouchers and launched Sparks Pay – a digital payment solution, with in-store QR payment technology. Officials from M&S said that over the recent years, they’ve been working with HSBC UK to focus their offer so they can bring their customers augmented products, services, and rewards every time they shop with them.

The new agreement will enable them to build on the work already done by bringing together loyalty and digital payments, and more seamlessly rewarding their M&S Financial Services customers. Also commenting on this partnership, representatives from HSBC Bank stated that working alongside M&S, they 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 and now they’re happy to combine lending and payment solutions with the M&S rewards enjoyed by so many customers.

What does M&S Financial Services do? M&S Bank (the trading name of Marks & Spencer Financial Services) launched in 2012 on the foundations of M&S Money, which was established in 1985 as the financial services division of Marks and Spencer. In November 2004, HSBC bought 100 per cent of the share capital of Marks and Spencer Retail Financial Services Holdings Limited. Now, M&S Bank is a wholly owned subsidiary of HSBC UK, it has its own banking licence and its own board.

.