Page 34 - Pay Magazine s2014

pay awards
outstAndIng rewArds ProgrAm
The rewards program that delivers results for a retailer or marketer by providing rich, easy-to-use bene ts to customers.
ScoreCard Rewards
FIS
what it is: Rewards program increases trans- actions, market share and pro tability for nancial institutions on card accounts.
why it works: Engagement, scope and sim- plicity. ScoreCard o ers cardholders a variety of valuable reward options, including travel, merchandise, gift cards and fuel discounts, for using their payment cards. ScoreCard has more than 7,500 programs in place, and a recent partnership with a large gasoline retailer enables cardholders to swipe their payment cards at the pump to receive dis- counts without using separate loyalty cards in real time.
why it matters: Colloquy estimates that
58 percent of loyalty program members don’t participate. FIS is working to ensure that the more than 3,100 nancial institutions using ScoreCard Rewards have much higher en- gagement rates. Through APIs the loyalty program can be integrated into the nancial institution’s mobile app, and real-time POS integration enables redemptions at the point of purchase—both of which drive engagement.
differentiators: Automatic enrollment as well as instant discounts keep consumers coming back. Monthly and yearly Website sweep- stakes for chances to win up to a million points and prizes such as iPads, game con- soles or gift cards reinforce top-of-wallet status.
what the judges said:
Simple redemption and member engagement are must-haves for rewards programs to work. FIS already o ered both when it enhanced its program with instant discounts at the gas pump to further drive engagement.
Cardholders earn points on every transaction and integration with a national fuel provider enables rollback at the pump for instant grati cation and engagement.
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wInners
American Express Serve Cash Back
American Express
UChoose Rewards
Fiserv
retail & loyalty