Samsung Pay Adds New Rewards Program to Mobile Wallet
Samsung Pay has expanded its digital wallet service to offer a rewards program for a mobile payments platform. Users can now earn loyalty points for every purchase made through Samsung Pay much like they would with a rewards credit card.
The rewards are set up in a tier system: the more you spend, the more you earn. According to the current terms and conditions, there are four tiers:
- Entry Level (0-5 transactions per month): 10 points per transaction
- Silver (6-20 transactions per month): 20 points per transaction
- Gold (21-30 transactions per month): 30 points per transaction
- Platinum (31+ transactions per month): 40 points per transaction
These points are not based on the value of the transactions but rather the volume of transactions made per month. This gives people a chance to earn points on everyday purchases, such as getting lunch or going through a car wash.
Loyalty points can be earned on purchases with nearly every eligible card in your Samsung Pay Wallet, including debit cards. Samsung’s rewards will not be in place of the loyalty points earned through an existing rewards card, so you can accrue points from two different sources for each transaction.
The points can be used for Samsung products, retail gift cards, vouchers on Samsung.com, and more. Users are eligible for special prizes called Instant Wins, but Samsung has not yet released much information about that program. The company says the terms of agreement will be available when the rewards program goes live.
The new rewards program will start November 17, 2016 and end on November 17, 2017. The end date may be subject to change, depending on the success of the loyalty system.