Latest news with #rewards
Finextra
12 hours ago
- Business
- Finextra
Why closed-loop payments are ideal for boosting loyalty: By Nikunj Gundaniya
Loyalty fails when it's disconnected from how people pay. Traditional loyalty programs are often built as afterthoughts. A separate sign-up. A separate app. A separate step. But it doesn't have to be like that, right? Because it's a disconnected experience for your customers. And that often leads to hesitation and confusion. What if loyalty can be tied to the payment? Because it's the one action every customer repeats. Every transaction is a moment to reinforce brand trust or lose it. Closed-loop payments make that possible. They don't just process a sale. They embed loyalty directly into the act of paying. That means no extra cards and no extra friction for your customers. Just the value that is delivered at the moment it matters most. There are multiple reasons why a closed-loop payment solution is a powerful tool to drive loyalty. Let's explore them one by one. Seamless loyalty integration at the point of payment Loyalty doesn't feel like a chore when it's embedded in the payment experience itself. That also means your customers don't need to swipe any extra card, enter a number, or remember to open a separate app. The moment they pay, they earn rewards. Then they are ready to redeem discounts. That's how closed-loop transactions create value. This simplicity drives behavior. When loyalty is automatic, it becomes invisible. And that's the goal for businesses like yours. Customers return not because they're trying to 'work the program,' but because it just works, and that too effortlessly. Remove friction from the buying journey and payment experience, and you will surely see higher engagement and better retention. Closed-loop payments do exactly that. When your customers realize that every payment they make provides some value in return, then they are likely to choose your business repeatedly. Encourages habitual spending and repeat visits There's a simple psychological effect at play when customers preload funds into a closed-loop wallet or card: they feel committed. It's like they've already paid. Now, they are just waiting to 'use' that, which gives them a strong reason to return. This stored value loop is powerful, especially for businesses built on repeat purchases like Cafés, fuel stations. transportation, local grocers, etc. Once customers load value into your branded payment system, coming back becomes the default choice. And because rewards accumulate automatically, repeat visits become habitual, not forced. Rich first-party data to power loyalty strategies Unlike open-loop systems, where transaction data is filtered through external providers, closed-loop payments keep the data within the issuing party (i.e., your business). That means you can know who your top customers are. How often they buy. What they buy. When they stop coming. With such data at your disposal, you can build real relationships, not one-size-fits-all campaigns. Besides, you can reward frequency, re-engage the quiet spenders, or tailor offers for high-value customers. With closed-loop payment systems, loyalty isn't a guessing game. It's personalized, dynamic, and built on actual behavior. Greater control over customer experience When you control the payment experience, you control the loyalty journey. Closed-loop prepaid cards or e-wallets give you full ownership, from branding and UX to how rewards are calculated and delivered. Want to create tiered benefits? Offer cashback based on cart value? Trigger rewards based on purchase streaks? You can. Whether it's an in-app wallet or a physical card, every interaction stays within your ecosystem. No third-party branding. No outside rules. Just your business, your experience, your customer. That kind of control builds stronger loyalty, because the experience is consistently yours. Lower costs & more value back to customers There's a financial logic to this as well. How? Because closed-loop payments cut out the middlemen. That means no interchange fees and no external transaction charges. It's only direct payments inside your business. That cost savings adds up when you consider that there are thousands of transactions involved every month. And you can reinvest this into better loyalty offers, without eating into your margins. Hence, instead of spending to operate a rewards program, you're using a more efficient payment system that funds the loyalty loop itself. It's sustainable, scalable, and smart. Use cases across industries Closed-loop payments fit any business where loyalty and repeat spend matter. Below are some examples where they work seamlessly: Retail : Drive frequency, push exclusive offers, and reward spend without outside platforms. Transportation & Mobility : Ideal for rides, rentals, and transit systems where speed and habit drive usage. QSR & Cafés : Preloaded wallets or cards keep lines moving and customers coming back. Education & Campus Services : Manage student spending, discounts, and access all in one system. Events & Hospitality : Deliver a fully branded guest experience, such as spending, rewards, and perks, all with a single branded card. Conclusion Loyalty shouldn't be something customers chase after. It should be smooth. It should be effortless. And that can happen when it's built right into the payment experience. Closed-loop payments do exactly that. By tying rewards directly to transactions, they make every visit more valuable and every spend more meaningful. The result? Better data, stronger relationships, and higher retention. Whether through e-wallet apps, prepaid cards, or both, closed-loop payment solutions give your business the tools to turn payment into seamless loyalty. If you are looking to boost customer loyalty and retention, then you should definitely consider closed-loop payments.
Associated Press
2 days ago
- Business
- Associated Press
CleverTap Launches "Promos' - The Industry-First All-In-One Rewards Management Platform
With Promos, CleverTap redefines How Brands Engage and Retain Customers by Making Rewards, Promotions, and Loyalty an Integral Part of Its All-In-One Engagement Platform SAN FRANCISCO, CA and MUMBAI - June 18, 2025 ( NEWMEDIAWIRE ) - CleverTap, the all-in-one customer engagement platform, today announced the launch of Promos - an industry-first, customer rewards management platform built to redefine how brands create, manage, distribute, and optimize rewards, promotions and loyalty programs. Powered by technology from (now part of CleverTap), Promos offers a comprehensive, API-first solution for managing every facet of customer incentives - from coupons and loyalty points to cashback, vouchers, and gamified rewards. By replacing a system of fragmented tools, Promos empowers marketers with a seamless, scalable, and deeply integrated alternative for driving retention, repeat purchases, and maximizing customer lifetime value. Marketers today are often forced to rely on fragmented systems - piecing together rewards and loyalty programs, CDPs, messaging platforms, and analytics - just to deliver a single, end-to-end campaign. These disconnected workflows slow teams down, lead to inconsistent data, and cause marketers to miss critical moments for engagement, resulting in delayed rewards, irrelevant offers, and loyalty programs that fail to deliver. Promos changes that. It embeds rewards management directly into CleverTap's engagement engine, giving brands a single platform to segment users, automate campaigns, personalize, deliver real-time incentives, and measure effectiveness effortlessly. With Promos, marketers can now launch behavior-triggered rewards in minutes, optimize campaigns on the fly, and deliver offers that feel timely, relevant, and personalized - ultimately improving ROI and deepening brand-consumer relationships. Anand Jain, Co-founder and Chief Product Officer, CleverTap, said, 'CleverTap Promos rewrites the rewards management playbook. Rather than tallying one-off redemptions, we're forging lasting customer relationships, making every point, perk, and offer a personalized, memorable moment rooted in trust and authenticity. By uniting reward programs, engagement, and intelligence on a single platform, Promos truly propels our mission to becoming industry's first end-to-end retention platform for modern marketers.' Akhil Suhag, Co-founder and CEO, added, 'Rewards and loyalty management shouldn't force marketers to navigate a maze of siloed systems. Promos lets brands oversee loyalty, incentives, and engagement from one unified hub. This speeds up execution, clearing operational clutter and turning customer retention into a compounding engine for sustainable growth. I'm excited for marketers to experience its power and convenience firsthand.' Learn more or request a live demo here. About CleverTap CleverTap is the leading all-in-one customer engagement platform that helps brands unlock limitless customer lifetime value. CleverTap is trusted by over 2000 brands like Decathlon, Domino's, Levis, Jio, Emirates NBD, Puma, Croma (A Tata Enterprise), Swiggy, SonyLIV, Axis Bank, AirAsia, TD Bank, Ooredoo, and Tesco to help build personalized experiences for all their customers. The platform is powered by TesseractDB(TM) – the world's first purpose-built database for customer engagement, offering speed and cost efficiency at scale. Backed by top-tier investors such as Accel, Peak XV Partners, Tiger Global, CDPQ and 360 One, the company is headquartered in San Francisco, with presence across Seattle, London, São Paulo, Bogota, Mexico, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Delhi, Singapore, Vietnam, and Jakarta. For more information, visit or follow us on: LinkedIn: X: Forward-Looking Statements Some of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release. Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction. For more information: ADITYA SANYAL Director, Digital Marketing, CleverTap +91 9177110080 [email protected] ASHMIT CHAUDHARY Associate Consultant, Archetype +91 8850752121 [email protected]
Zawya
3 days ago
- Business
- Zawya
Almosafer partners with Landmark Group to reward travellers with Shukran points on travel bookings
Dubai, UAE – Almosafer, the Middle East's leading travel brand, has announced a strategic partnership with Landmark Group to deliver greater value and flexibility to travellers across the GCC through Shukran, Landmark's award-winning loyalty programme. Through this collaboration, Almosafer customers across the GCC can earn Shukran Points on travel bookings made through Almosafer's online travel platforms. Additionally, customers can transfer their Almosafer Points to Shukran Points, providing them with even more options for utilising their travel rewards. Shukran Points can be redeemed across Landmark Group's extensive retail network, including Centrepoint, Max Fashion, Home Centre, Splash, Lifestyle, Shoemart, and Emax - creating a seamless connection between travel and everyday lifestyle benefits. Pallav Singhvi, VP of Consumer Travel at Almosafer, said: 'Our goal has always been to deliver a seamless and enriching experience for our travellers. This partnership with Shukran allows us to add even more value to each journey booked through Almosafer, while also expanding our benefits ecosystem to include one of the region's most trusted loyalty programmes.' James Dickson, Chief Product Officer at Landmark Group said; 'We're thrilled to extend Shukran's reach through our partnership with Almosafer. Shukran is built to reward customers for the lifestyle choices they make every day, and this collaboration is a significant step forward in offering even greater flexibility and value to our members.' The partnership reflects Almosafer's continued commitment to delivering smarter, more rewarding travel experiences across the region. About Almosafer Almosafer is the Middle East's leading travel brand offering consumers seamless user experiences for domestic and international travel bookings through its omni-channel offerings across state-of-the-art online platforms, call centre, WhatsApp and retail locations. Providing hotel booking options for over 1.5 million properties around the globe, flight bookings on over 450 airlines, domestic chalet and istiraha reservations, complete holiday packages, domestic activities, car rental, transfers, concierge planning services and more, Almosafer boasts various convenient booking solutions for any type of travel need. With the heritage of being a homegrown business and harnessing extensive experience in the region, the brand has developed a deep understanding of local travel needs, preferences and traveller segments. Tailored holiday packages for Saudi travellers, dedicated offers and deals, alongside one-on-one consultation across WhatsApp, a 24/7 call centre and in-branch travel advisors, add to the sense of personalised service only a local business such as Almosafer can provide, to help customers find richer and more memorable experiences wherever and whenever they travel. About Landmark Group Founded in 1973 in Bahrain, Landmark Group has grown to become one of the largest and most successful omnichannel retail and hospitality conglomerates, with presence across 17 countries in the Middle East, Africa, India and Southeast Asia. Based in the UAE since 1990, the Group owns and operates 22 established homegrown brands across an extensive network of more than 2,200 outlets, encompassing a gross leasable area of 33 million square feet. Landmark Group's success is driven by its diverse portfolio of established brands, across multiple retail categories, offering a comprehensive range of products across fashion, home, groceries and electronics. These include Centrepoint, Max Fashion, Home Centre, Babyshop, Splash, Shoemart, Lifestyle, Viva, Emax, Home Box, Styli, Shoexpress, Spar and Easybuy. Beyond retail, Landmark Group has diversified into the leisure, fitness and hospitality sectors with brands like Fitness First, Citymax, Fun City, Fun Ville, Zafran and Carluccio's. The Group boasts unparalleled logistics capabilities, owning the MENA region's largest privately-owned distribution hub - Omega Logistics and Logistiq, which offers state-of-the-art third-party logistics services. Landmark Group places a strong emphasis on delivering exceptional value and achieving customer satisfaction throughout its comprehensive product range. The company has a dedicated workforce of more than 53,000 employees and continues to be certified as a Great Place to Work (GPTW) since 2017. For more information visit our website or follow us on our social media pages on LinkedIn, Facebook, and Instagram.
Forbes
3 days ago
- Business
- Forbes
New Chase Sapphire Reserve Benefits To Know About
A few things in life are certain: death, taxes and issuers changing your favorite credit cards. Chase is keeping the tradition alive with a full revamp of its beloved Chase Sapphire Reserve®. With a flood of new perks and a steep annual fee hike, for better or worse, as of June 23, the refreshed Sapphire Reserve will arrive. If you are a big spender, you can unlock even more benefits when you spend $75,000 in a calendar year: Your rewards on spending are also changing. These are the new earning rates for your Chase Sapphire Reserve card: Chase is replacing its 50% bonus on travel bookings made through Chase Travel with an all-new Points Boost feature. With the promotional Points Boost offers, select hotels and flights can be redeemed for up to 2 cents per point in value. Note that only select flights and hotels booked through Chase Travel are eligible for Points Boost. All other Chase Travel bookings will be worth 1 cent per point. You might want to be sitting down for this one. The annual fee on the Sapphire Reserve now rings in at $550. That's a $245 increase. And it gets worse—authorized user cards jump to $195 per person, up from $75 each, or in other words, a $120 increase. Note: As of June 23, new applicants will have access to the new benefits but will incur the increased annual fee. Existing card members will have access to Points Boost and the additional features and benefits starting October 26, 2025. The annual fee will increase on their next anniversary date, following October 26. That's a lot to take in—and if you're feeling overwhelmed, you're not alone. Whether you already have it, or you're thinking about applying, it can be tricky to figure out if the Chase Sapphire Reserve is worth it for you. While there's no one-size-fits-all answer, here are a few steps to help you decide: With a little math and a comprehensive look at your travel plans, you'll be able to tell if the new Sapphire Reserve deserves a spot in your wallet.
CNN
3 days ago
- Business
- CNN
Chase Sapphire Reserve is making big changes, including a $795 annual price hike
CNN Underscored reviews financial products based on their overall value. We may receive a commission through our affiliate partners if you apply and are approved for a product, but our reporting is always independent and objective. This may impact how links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit to learn more. The Chase Sapphire Reserve® card, one of the most popular high-end travel rewards credit cards, is getting a makeover, and it will have a much higher annual fee to go with it. Chase just announced that, beginning June 23, 2025, cardholders will have to pay a fee of $795 per year instead of the current $550 annual fee. That's a 44.5% hike, vaulting the Sapphire Reserve ahead of the competing The Platinum Card® by American Express, which has an annual fee of $695. Cardholders will get a slew of new benefits for that increased annual fee, but one of the most attractive features of the Chase Sapphire Reserve is going away. The card will now earn just 1 point per dollar spent on general travel purchases, in exchange for higher earnings on flights and hotels. That change is sure to irk cardholders using the Sapphire Reserve as their go-to card for everyday travel expenses. Here's a look at what's changing and what's staying the same, as well as possible alternatives now that the hiked annual fee and changed earnings may make the Chase Sapphire Reserve less attractive to some. The annual fee hike goes into effect on June 23. If you apply for and are approved for the Chase Sapphire Reserve card before that date, you will be charged the current fee of $550. Existing cardholders will be charged the higher annual fee beginning Oct. 26, so if you already have the card and your anniversary date falls before that day, you will still pay the current, lower fee. The annual fee to add an authorized user is also going up on the same dates, from $75 to $195. That's an increase of 160%. Instead of earning 3x points per dollar on all travel expenses, the card will now earn up to 8x points on some travel categories, but only 1x on general travel, including mass transit, vacation bookings like Airbnb and cruises. The good news is that the Chase Sapphire Reserve card will now offer increased points earnings on flights booked through Chase Travel, as well as flights and hotels booked directly. Hotels booked through Chase Travel: Now earns 8x (previously 10x) Hotels booked directly: Now earns 4x (previously 3x), after using the $300 travel credit Flights booked through Chase Travel: Now earns 8x (previously 5x) Flights booked directly with airlines: Now earns 4x (previously 3x), after using the $300 travel credit Rental cars booked through Chase Travel: Now earns 8x (previously 10x) All other travel, including vacation rentals and mass transit: Now earns 1x (previously 3x) It will also continue to earn 3x on dining, 5x on eligible Lyft rides and 10x on eligible Peloton purchases. Like in its current incarnation, the revamped Sapphire Reserve offers credits that help offset the annual fee. In exchange for a much higher fee, there are a host of new credits. $500 annual statement credit for stays booked on The Edit, a collection of luxury hotels and resorts curated by Chase (split into two biannual credits of $250) $300 annual credit at Sapphire Reserve Exclusive Tables, which can be booked on OpenTable (split into two $150 biannual credits, activation required) $300 annually in monthly DoorDash promotions (a $5 restaurant promo and two $10 promos on everyday essentials each month, activation required by Dec. 31, 2027) $300 annual statement credit for concert and event tickets purchased on StubHub or Viagogo (split into two $150 biannual credits, activation required) $250 annual statement credit for Apple TV+ and Apple Music subscriptions (one-time activation per each service required, on or the Chase mobile app) $120 in annual Lyft credits, up to $10 monthly (through Sept. 30, 2027) $120 in annual statement credits toward Peloton memberships, $10 monthly (through Dec. 31, 2027) Complimentary DashPass membership with DoorDash, worth $120 (activation required, by Dec. 31, 2027) The $300 annual travel credit, applied automatically to all purchases in the travel category and resetting each year on the anniversary date, is unchanged. Unlike the travel credit, the new credits aren't applied automatically, and maximizing them requires some work on your part. They are also geared more toward lifestyle purchases rather than travel. That said, if you can utilize all of the credits to their maximum, that's the equivalent of more than $2,300, which would offset the annual fee by almost three times. A travel benefit that's being added to the Chase Sapphire Reserve is automatic Platinum elite status with IHG One Rewards, the loyalty program of hotel chain IHG, which includes brands such as Holiday Inn, Intercontinental and Crowne Plaza. Platinum is the second-highest of IHG's four elite levels and gets you, among other perks, 60% bonus points on IHG stays, a welcome amenity of points or a drink/snack, early check-in if available and guaranteed room availability within 72 hours. IHG Platinum status also includes Five Star status with Hertz, which would otherwise require spending $2,400 on car rentals in a year. Five Star status gets you complimentary one-car-class upgrades when available and 25% bonus points on all Hertz rentals. After spending $75,000 on the Chase Sapphire Reserve in a calendar year, cardholders will have access to the following additional perks: IHG One Rewards Diamond status, the highest elite level in the IHG One Rewards program Southwest Airlines A-List status $500 Southwest Airlines credit (when booked through Chase Travel) $250 credit for The Shops at Chase, an online shopping portal for cardmembers featuring brands such as Bang & Olufsen, Breitling, Cuisinart, Dyson, Ray-Ban, Samsonite, Sony and Tumi While these are attractive perks, the threshold to unlock them is very high. Some of the benefits that have made the Chase Sapphire Reserve one of the most popular travel cards at the high end of the credit-card market remain, including the benefits listed below. $100 application fee credit every four years for Global Entry, TSA PreCheck or Nexus (note that the application fee for Global Entry recently increased to $120) Access to Chase Sapphire Lounges at US airports with up to two guests and complimentary Priority Pass Select membership (activation required), allowing access to more than 1,200 airport lounges worldwide Trip cancellation/interruption insurance, trip delay reimbursement, lost luggage reimbursement, baggage delay insurance, rental car protection, travel accident insurance and emergency evacuation assistance for trips booked with the card The Chase Sapphire Reserve may not be the card for people who don't plan to use the numerous credits that can more offset the steep annual fee, which will be raised from $550 to $795 starting June 23. There are, however, other cards that offer travel benefits and could be an alternative. A less expensive choice within the Chase credit card ecosystem is the Chase Sapphire Preferred, with an annual fee of $95. For that much more palatable cost, the Preferred still earns 3x points on dining and 2x on all travel, making it more attractive for travel expenses that aren't flights, hotels or Lyft rides. The Capital One Venture X Rewards Credit Card, with an annual fee of $395, earns 10x on hotels and rental cars and 5x on flights booked through Capital One Travel. It also offers the same annual travel credit as the Chase Sapphire Reserve — $300 — when booking through Capital One. Crucially for many travelers, it also offers complimentary airline lounge access, both at Capital One's own airport lounges and Priority Pass lounges. And with an annual fee of $695, the American Express Platinum Card currently sits alongside the Chase Sapphire Reserve at the top of the market — and is suddenly the cheaper to hold of the two. It offers many similar benefits to the Sapphire Reserve, a slew of statement credits and access to the American Express Membership Rewards ecosystem of transferable points. It also earns 5x points for flights booked directly with airlines or with American Express Travel, up to $500,000 on these purchases per calendar year and earns 5x points on prepaid hotels booked with American Express Travel. It also has the most comprehensive lounge access, including Priority Pass lounges, American Express Centurion lounges and Delta Sky Club (when flying eligible Delta flights, subject to visit limits). The following FAQs have been answered by CNN Underscored senior money editor and credit card expert Alberto Riva. Is the annual fee for the Chase Sapphire Reserve card increasing? Is the annual fee for the Chase Sapphire Reserve card increasing? Yes, the annual fee is increasing from $550 to $795 on June 23, 2025. Will the Chase Sapphire Reserve card still have dining credits? Will the Chase Sapphire Reserve card still have dining credits? The Chase Sapphire Reserve card will continue to earn 3x on dining worldwide. Will the Chase Sapphire Reserve card have a $10 monthly Lyft credit? Will the Chase Sapphire Reserve card have a $10 monthly Lyft credit? Yes, the Chase Sapphire Reserve will have up to $120 in annual Lyft credits, up to $10 monthly (through Sept. 30, 2027). CNN Underscored's team of expert editors and contributors carefully reviews credit cards, travel rewards and loyalty programs to help readers navigate changes and make informed financial decisions. For this story on the Chase Sapphire Reserve updates, credit card expert Alberto Riva applied his years of industry knowledge to ensure every detail is accurate and actionable. Our recommendations are grounded in real-world value — not hype — and backed by thorough analysis, expert insight and a commitment to clarity and transparency. Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
