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The trend of mobile payment solutions supporting retailer loyalty programs is a big development for the growing platform. With this development, mobile wallets took another step toward their dream scenario of replacing both cash and plastic altogether. With today’s customer's yearning for seamless customer experience, it only made sense for these solutions to allow for yet another function of physical cards to be fully integrated into the digital space.
Samsung, however, wasn’t satisfied only supporting these programs: It developed its own. On Monday, Samsung launched Samsung Rewards.
Users of Samsung Pay will receive points for transactions anywhere that supports the platform, which can then be redeemed for prepaid cards from Visa, Samsung itself, and other retailers across the country.
In addition to these points, Samsung Rewards users can earn status tiers that will multiply the points they receive. These tiers are awarded based on a number of Samsung Pay transactions per month. As users make their way up these tiers, they can eventually earn Platinum status with 30 monthly transactions, which will earn quadruple points.
Beyond rewarding customers for using Samsung Pay, the rewards program serves as a building block on which the company can add additional products.
“For Samsung Rewards, this is just the beginning, when the program launches this week. In the coming months, Samsung Rewards will rapidly expand to include a wide variety of Samsung’s products and services, like Samsung.com and S Health, exclusive events and experiences and our partner programs,” said Nana Murugesan, VP/GM of services and new business at Samsung Electronics America, in an article announcing the launch.
“We are always looking for ways to offer Samsung customers more value, to enhance their experience with our products and services, and, ultimately, make their day-to-day lives a little more convenient,” Muregesan said. “Samsung Pay helps people slim down their physical wallets, and Samsung Rewards helps to keep their digital wallets full.”
The implications of a mobile wallet loyalty program are huge. With Apple Pay and Android Pay now due to respond, Samsung may have found the edge it needed to properly incentivize mobile payments and bring customers on board with the hopes of retaining them through the added convenience. The mobile wallet war is still just warming up, but Samsung Rewards is a more than adequate reason for some users to pick their side.
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