In November, Samsung Pay revealed that soon users would be able include loyalty, membership, and gift cards by using Samsung Rewards. Samsung has expressed interest for some time now on adding new features to turn Samsung Pay into more than just a mobile wallet, and to incorporate loyalty benefits on top of payment capabilities.
"As we enter the new year, and look to the future of mobile payments, we want to build on the success of Samsung Pay by giving new users even more reasons to try it out — not to mention, thank our existing customers for using a service they already love," Nana Murugesan, vice president and general manager of services and new business at Samsung Electronics America. "That's why we're excited to offer Samsung Pay users a first-of-its-kind rewards program for a mobile payments platform: Samsung Rewards."
Users of Samsung Pay that enroll in Samsung Rewards will receive points for every Samsung Pay transaction and will have the chance to redeem their points for Samsung products, prepaid Samsung Rewards Visa gift cards, and gift cards from retailers.
Samsung’s decision to initiate a loyalty program that’s mobile wallet based is perfect timing considering many industry leaders are requesting for rewards to be integrated with mobile payment providers in efforts to boost mobile consumer acceptance. Since being introduced, the majority of mobile wallets have lacked a strong customer base and experts hope that incorporating rewards will lessen this tendency.
Samsung Rewards is set up similar to a credit card rewards program that includes bonuses and prizes.
"You can get even more points through limited-time bonus offers," Murugesan wrote. "Samsung Rewards will partner with retailers and small businesses and give users seasonal opportunities to earn additional points — anyone who joins Samsung Rewards in November or December, for example, will receive double points on purchases made in those months.”
Merchants can capitalize on Samsung Rewards by offering mobile acceptance and NFC technology in their store. Using an NFC terminal that accepts mobile wallets will allow merchants to stay up-to-date with the latest technology and accept alternative payments that many consumers are transitioning into using over cash or card.
Currently, Apple Pay and Android Pay do not have a loyalty program for their mobile wallet.