Loyalty Rewards Schemes To Raise Debit And Credit Card Spends
Banks are gradually more looking at offering rewards or points on Debit and Credit card transactions in an attempt to attract more customers and raise card usage.
State Bank of India, launched a loyalty programme for its debit card customers in April 2009. Punjab National Bank is also setting up to launch a similar programme for its credit card customers in the next three to four months.
Loylty Rewards, the loyalty and rewards management company which formulated and implemented SBI’s programme, is also working with Deutsche Bank and Citibank which are likely to announce their programmes within the next two or three months.
SBI’s reward programme offers customers the option to redeem the points earned for using their debit cards with over 35 retail brands which include electronic brands, apparel, jewellery and also for booking movie tickets, bus tickets and air tickets.
