Accelerate Engagement and Increase Satisfaction With Expanded Buying Power
With Pay with Points and Shop with Points, your customer or employee can either use a rewards currency to immediately pay in full for a product, or partially pay, supplementing the remaining balance with another form of payment. This use of split tender payment – combining points with traditional currencies such as cash or credit cards – provides instant gratification. Program members are in greater control of how their reward currency is used and can buy products without having to wait for rewards balances to grow. The result is an increase in the number of redemptions, accelerated engagement, and higher customer satisfaction due to consumers’ increased buying power with rewards currencies.
Here’s an example of how Pay with Points works on an eCommerce site.
Bridge2 makes using Pay with Points easy for program managers. Bridge2 handles all integration, support and reconciliation directly with the merchants. This removes any burden while still allowing you to manage the important aspects of the program – the value of the currency used, the merchants available to your participants and joint marketing promotions.
Consumer logs onto Merchant website to shop.
Consumer shops and adds items to the cart for checkout.
Consumer selects rewards currency as payment. Bridge2 connects rewards program and validates amount available.
Consumer chooses the amount of rewards currency to apply and charges any remaining balance to credit card. Consumer is only charged remaining balance beyond the value of the rewards currency applied. Bridge2 reconciles with merchant for rewards currency used.
Merchant fulfills order and ships product.
The Future of Loyalty
Bridge2 is expanding the use of rewards currency and making it available wherever credit cards are used – giving your customers or employees the ability to use rewards currency immediately for merchandise, travel, as well as other valuable goods and services.
Rewards currency is the ultimate currency to drive brand loyalty, and Bridge2 continues to bring new innovative solutions to market which allow consumers to use their currency whenever and wherever they choose.
70 percent of consumers find instant retail and online points redemption options appealing
43 percent of those consumers are willing to pay a points premium for this convenience
*2016 Bond Loyalty Report