LONDON, UK / ACCESSWIRE / April 7, 2021 / Omega, the project that has been making waves in the FinTech space recently, has today announced that it has entered into a strategic partnership with Mastercard, which includes funding, product, and marketing support.
Having been awarded UK Fintech Start-up of the Year (2020) by Worldwide Finance Awards and the Best Fintech Innovation (2021) by Finance Monthly, Omega is launching its OMG card proposition this year, after an extensive period of beta product testing and in preparation for its upcoming crowdfunding campaign.
Omega is looking to build the largest local digital marketplace to try and level the playing field between local businesses and big brands.
Local High Street businesses have been under immense pressure ever since the rise of online retailers such as Amazon. The situation has of course been further exacerbated by the COVID-19 pandemic. At the same time, consumer-buying habits have also shifted significantly towards digital channels, leaving brick-and-mortar businesses on the brink.
As a consequence of these shifting sands within the retail sector, Omega's OMG offering is emerging as a potential rescuer for the UK High Street.
Omega's collaborative approach appeals to consumers and businesses alike. OMG provides day-to-day banking-like functionality for customers, offering simplicity, enhanced security, and, most importantly, enticingly exclusive cashback offers from the network of OMG Partner Businesses, which could save Customers an average of £1000 per annum on their daily spending. For business partners, there is the offer of an easily accessible digital selling channel and integrated customer loyalty tools, which provides a 46% increase in average order value, 3.4 times increase in conversion, and 100% increase in repeat customer visits.
While it is early days in this sector of FinTech, Omega is quickly positioning itself as a sector leading, bringing the disruptive ecosystem approach to FinTech. Since its inception in 2020, it has secured pre-seed funding, became FCA-regulated, secured the key accolades outlined above, and now Omega has partnered with finance powerhouse Mastercard.
Omega's press release about its partnership with Mastercard reads as follows:
"As we are rapidly approaching our London hyper-local beta-launch, we are incredibly excited to share the great news with our customers and partners. We have entered into an official partnership with Mastercard - leading international payment systems company driven by a purpose to connect and power an inclusive digital economy that benefits everyone, everywhere, through secure networks, partnerships, solutions, and much more.
We feel Mastercard's purpose resonates well with OMG's vision to provide win-win solutions for our customers and businesses. We want our customers to have access to a truly convenient and rewarding lifestyle spending experience delivered through our unique banking ecosystem-marketplace. OMG gives its customers very real and significant cash benefits on their typical everyday purchases. And in the process, we can support businesses in their local communities that have seen great hardship over the last 12 months.
Together with Mastercard, we will be working to provide our users with cards that benefit from the best infrastructure and security. In time, additional financial tools will be made possible by Mastercard.
Mastercard's support means that OMG can continue to focus on improving the quality of our products and services and do everything right by involving the best people, best practices, and the support network. All of which translates for a better experience and exciting future for our customers.
We are looking forward to seeing you in our Beta version soon."
CONTACT:
Kathy Robinson
[email protected]
SOURCE: Omega BaaP Limited