SOURCE: Buzz Points

Buzz Points

December 05, 2017 06:00 ET

Buzz Points Introduces Real-Time Rewards

New technology provides users with seamless rewards redemption experience, bolsters interchange revenue

AUSTIN, TX--(Marketwired - Dec 5, 2017) - Buzz Points, Inc., an incentive-based customer engagement and revenue-generating platform, made famous by its "buy local, spend local" rewards for community financial institutions (CFIs), today introduced Real-Time Rewards (RTR) for US financial institutions issuing Visa credit or debit cards for consumers. The rewards program gives cardholders the power to redeem rewards in-store, following a qualifying purchase, without the hassle of coupons, vouchers or QR codes. The reward will appear as a statement credit on a consumer's account, typically within ten days from redemption.

"In the modern financial services landscape, there's significant friction in the rewards redemption process," said Buzz Points CEO Dwayne Spradlin. "This new near real-time redemption method enables users to simply claim a reward, make the qualifying purchase and see the cash back applied as a credit to their account."

As Real-Time Rewards incentivizes customers to use a specific financial institution's card, partner community banks and credit unions can expect to generate additional interchange revenue with every redemption. The streamlined redemption process also improves preferred local businesses' experiences by eliminating paperwork and extra steps at point-of-sale.

Additional features of Real-Time Rewards include:

  • Visa Offers Platform: RTR utilizes Visa's powerful Visa Offers Platform to enable CFIs to identify qualifying transactions and offer cash back to cardholders as a credit to their statement without changes on the CFI's end.
  • Flexible Channel Architecture: The feature was designed with emerging channels in mind, allowing the cardholder experience to extend across mobile, web, chat messenger, voice commands and more.
  • State-of-the-Art Engineering: RTR is built with the latest engineering, including Amazon Web Services and Microservice architecture that enable responsive applications, reliable services with high uptime, and flexibility for future innovation.

"We are very excited to offer Real-Time Rewards to our loyal Buzz Points members," Joel Steenhoven, President of Siouxland Federal Credit Union. "Extending this cutting-edge technology to our community helps us bring innovative loyalty programs to our customers and give back to the local economy by further incentivizing local spending."

To learn more about Real-Time Rewards by Buzz Points, visit https://www.buzzpoints.com/financial-institutions/.

About Buzz Points, Inc.
Buzz Points® is a community-focused rewards and marketing platform that connects community financial institutions, consumers and locally-owned businesses. The Buzz Points platform incentivizes members to shop locally, drives business results for community banks and credit unions, and helps local businesses compete against national chains.

Contact Information

  • Media Contact:
    Ian Toner
    Communications Strategy Group, on behalf of Buzz Points
    itoner@cwearecsg.com
    720.726.5460