Acquisitions, Program Launches and Technology led the year’s news

2024 signified the importance of the expanding US market for Loyalty Marketing products and services in the global landscape. Several European and Asian groups announced expansion plans and made acquisitions during the year. We expect to see more of this activity in 2025.

We saw a handful of leading loyalty solution providers fortify their offerings through patents issued by the USPTO. And we witnessed multiple acquisitions of retail chains in convenience and fuel retail, one of the biggest completed by a leading Mexican retailer.

Activity outside the US marked innovation in customer loyalty business models and illustrated the power of creating at the intersection of payments and loyalty.

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For today, we share a short list of 2024 highlights across all of these realms.

Tookeez Launched as the first Loyalty Program Aggregator in Africa

Tookeez is a new concept launched in Morocco in early 2024. Describing itself as a “loyalty program aggregator,” its mission is to become the premier pan-African coalition program serving small businesses to become active in the digital payments system. The African market needs tools to encourage digital and financial inclusion, and Tookeez can play a role in facilitating transactions across its acceptance network and providing an accessible loyalty tool.

Tookeez enables merchants to accept points for payment and generate a cash transfer that can be withdrawn from an ATM. This value chain is facilitated by the Tookeez app. The founders are also the principals of 2WLS, Siham Elmejjad, Hicham Amadi, and Wiam Fahim.

Loyalty Juggernaut is “Patent Prolific” with Two New Patents in 2024

With the announcement of two new patents during 2024, LJI’s GRAVTY® became the only loyalty platform holding 3 USPTO patents for three essential capabilities required to future-proof loyalty programs and ecosystems.

Of the two patents awarded during the year, one is related to technology enabling brands to deliver individualized offers to program members at scale, while the latest patent recognizes the innovative use of AI to combat fraud in loyalty programs, ensuring their commercial integrity.

Exchange Solutions Unveiled Industry-First Generative AI Feature for a Loyalty Platform

Exchange Solutions announced the launch of groundbreaking Generative AI features integrated into its loyalty platform. This innovative advancement marks a significant milestone in enhancing marketer efficiency and effectiveness in loyalty program management.

The new Generative AI features are designed to empower marketers with enriched loyalty execution capabilities and to achieve optimal operational workflows. The technology provides breakthrough approaches for audience targeting and instant assistance in helping users navigate Help Queries.

CORA Group acquires enterprise loyalty platform from Kognitiv

CORA Group (“CORA”), an operating portfolio of Jonas Software, a subsidiary of Constellation Software Inc., acquired Kognitiv’s Enterprise Loyalty Platform (ELP). The acquisition expanded CORA’s loyalty solutions portfolio to include enterprise loyalty program management solutions.

The newly acquired entity will operate as “Carlson Marketing Solutions,” reviving its original brand identity from its founding in 1938 until it was acquired by AIMIA, Inc. and then subsequently by Kognitiv.

Capillary Technologies’ Series D Round Expands to $140 million

The expansion of its Series D round to $140 million includes $20 million earmarked for Employee Stock Ownership Plan (ESOP) payouts. This significant increase underscores the company’s continued growth trajectory and investor confidence in its strategic vision.

During the year, Capillary also announced its expansion into the DACH region. This marked a significant milestone in Capillary’s European growth strategy, following its successful expansion in the US and the acquisition of Tenerity’s Digital Connect Assets, which facilitated the company’s entry into the UK.

PAR Technology Corporation Announces Strategic Acquisitions

PAR Technology Corporation (NYSE: PAR), a global foodservice technology company and provider of unified commerce for enterprise restaurant brands, announced the acquisition of TASK Group Holdings Limited (ASX: TASK) and Stuzo Holdings, LLC.

Both transactions adhere to PAR’s disciplined M&A strategy of acquiring best-in-class products with marquee customer bases, ample cross-selling opportunities, and significant addressable markets. Further, the deals signify the most direct affirmation of a concept that a select few in our industry have been promoting – the need for a Unified Commerce approach to delivering stellar customer experience and in support of sustainable increases in lifetime customer value.

Mexican Giant FEMSA Acquires Delek, Marking Significant US Expansion

FEMSA is one of the largest conglomerates in Mexico with operations in over 17 countries. Through FEMSA’s Proximity & Health Division it operates OXXO; the largest small-format proximity store operator in the Americas with over 22,800 stores in 5 countries, including Mexico, Colombia, Chile, Peru and Brazil. Delek US Retail is a leading convenience store chain with 249 corporate stores operating primarily in the southwestern United States, including locations in Texas and New Mexico.

FEMSA announced the acquisition of 100% of the equity interests in Delek subsidiaries that operate Delek’s retail business for cash consideration of $385 million.