As loyalty programs have become an increasingly important part of companies’ customer retention strategies, the threat of loyalty fraud has risen, according to Bret Hydorn, VP of Marketing at CyberSource.
According to RFi Group, an estimated $238 billion in loyalty program rewards, earned by consumers through airlines, hotels and other programs, has never been redeemed.
Ernan Roman, president of ERDM Corp., told Loyalty360 that his company’s research shows that brands need to do a much better job of explaining their....