Samsung Pay Cuts Rewards Points in Half
Samsung Pay is now offering half as many points for its rewards program. Active users will now earn 5, 10, 15 or 20 points per transaction (depending on their rewards tier), as opposed to 10-40 points.
Samsung Pay originally launched the rewards program in late 2016 to encourage people to use the mobile wallet. That plan worked. Reports in January 2017 showed that Samsung Pay’s daily users were doubling every week following the debut of Samsung Rewards.
Rewards are set up in a tiered system based on the number of monthly transactions:
- Entry Level: 0-5 transactions per month, 5 points per transaction
- Silver: 6-20 transactions per month, 10 points per transaction
- Gold: 21-30 transactions per month, 15 points per transaction
- Platinum: 31+ transactions per month, 20 points per transaction
Points expire one calendar year after they are earned. The points have no monetary value, but they can be exchanged for products in the Samsung Rewards Catalog. Some rewards are guaranteed, such as 50,000 points for a Samsung Gear Fit2 Pro. Others are contest entries, like 50 points for a chance to win a Sandals Resorts getaway.
Samsung did not provide an explanation for the rewards reduction. Now that more people have adopted Samsung Pay, there is less need for the aggressive rewards campaign that was originally introduced.