Samsung Pay has launched a rewards program for U.S. consumers that allows them to earn points on both credit and debit card purchases — and has an emphasis on encouraging repeated use.
The program multiplies points earned based on how frequently the customer uses the mobile payments service, giving more frequent users higher multipliers.
“We’ve always looked at Samsung Pay beyond just 'Pay,'” said Nana Murugesan, general manager of services and new business at Samsung Electronics America. “We see this as a critical to our long term value proposition. Rewards will be administered in Samsung Pay, but relevant to the broader Samsung ecosystem.”
All users start in the “silver” status tier. After using Samsung Pay for five transactions in one month they achieve “gold status,” in which they earn twice the points on each transaction. From there it’s 20 monthly transactions to Platinum, which earns triple points; and 30 to Blue, which earns quadruple. There will also be bonus points offered at certain times throughout the year.
Customers can redeem their points directly within the Samsung Pay app or through rotating “Instant Win” prizes. The company is plans to let users redeem on the Samsung Pay website and convert points to a Visa prepaid card so users can spend their points like cash.
Samsung Rewards exists on top of already existing credit card rewards schemes, allowing customers to “double dip” in loyalty programs.
