PRESS RELEASE: Naperville, Ill. ” (July 1, 2020) ” Financial institution cardholder loyalty-and-engagement leader, ampliFI Loyalty Solutions, continues to prove Fuel Redemption is successful, even during times of COVID-19.
As part of the loyalty provider’s real-time redemption suite, the nationwide Fuel Redemption program allows cardholders to redeem points right at the pump, making redeeming rewards easy, immediate and convenient. The program gives financial institutions the ability to offer cardholders discounts for their purchase of fuel with their rewards debit-or-credit card, increasing engagement between the financial institution and their cardholders. The real-time activity at time of transaction delivers instant notification of redemption transaction and closes the appreciation loop. It also provides value to enrolled cardholders providing instant redemption access and seamless delivery, bringing the reward to the cardholder rather than needing to visit the website to redeem rewards.
The rewards program initially began with BP, however, has grown with immense popularity with the addition of Citgo and Shell with additional fuel providers ramping up to launch later this year. With additional fuel providers there’s been an increase in cardholder participation, even in times of COVID-19, where ampliFI Loyalty Solutions has seen significant growth with double-digit increases in the last three months. ampliFI Loyalty Solutions’ latest data shows the average spend for cardholders with Fuel Redemption rewards is 276% more than those without, proving this real-time redemption is valuable to every cardholder.
Fuel Redemption provides cardholders the advantage of immediate convenience by redeeming their points to save right at the pump through a simple process. Cardholders just need to purchase fuel at participating fuel stations, select the offer to redeem reward and save on fuel instantly. “We are excited to bring to the market, the first of many redemption strategies to our real-time redemption product suite like Fuel Redemption.” says Mike Moss, Chief Product Officer of ampliFI Loyalty Solutions. “Our product innovation strategy addresses the needs of the market and provides significant value to the rewards redemption ecosystem.” Moss highlights several reasons why. “Cardholders want more immediate and innovative ways to redeem their rewards, but also want to keep the process simple and free of friction,” he says. “Issuers are looking for additional ways to engage with their cardholders and provide both value and immediacy to the reward redemption experience.”
ampliFI Loyalty Solutions’ real-time redemptions suite, that includes Fuel Redemption and Pay With Points, is the future of redeeming credit-and debit card points–accessible, immediate, convenient.