Currensea, the market-leading payments technology platform for co-branded debit cards, today publishes The Reinvention of Loyalty, a new whitepaper examining how changing technology and consumer behaviour are reshaping loyalty in Europe.

The whitepaper comes as pressure on household budgets has intensified competition for discretionary spending, making loyalty programmes more important to airlines and hotel groups. They are also becoming significant profit engines for brands in their own right: in June, British Airways owner IAG set an ambitious target for its loyalty division operating Avios, aiming to almost double operating profit to €1 billion within five years.