BROOKFIELD, Wis.--(BUSINESS WIRE)--Nearly four million consumers with credit or debit cards issued by financial institutions participating in the uChoose Rewards® program from Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial technology solutions, can now use their card rewards balances towards the purchase of fuel at approximately 7,000 bp and Amoco locations.
Through an integration with Engage People, the only loyalty network that enables program members to pay with points directly at checkout, and their partnership with Velocity Logic, a leader in fuel rewards technology, uChoose Rewards members will have the option to redeem points on their fuel purchase at the pump, saving 50 cents per gallon, up to 20 gallons.
“Expanding our rewards redemption options to include uChoose Rewards gives our consumers different ways to save on their fuel purchases, and more reasons to choose our bp and Amoco brands,” said Mukta Tandon, vice president, US Mobility Marketing, bp. “The ability to redeem rewards points directly at the pump is an added convenience when people are on the go.”
“Consumers value convenience, and enabling rewards program members to pay with points directly at the point of sale enhances their overall experience,” said Jonathan Silver, CEO of Engage People. “Our partnership with Velocity Logic and integration with uChoose Rewards creates connections that empower consumers to make the most of their loyalty.”
Paying with points is a practical way for consumers to save on an everyday purchase, and the ability to accumulate and pay with points enables financial institutions to enhance the value of their card offerings and drive card usage. According to recent Expectations & Experiences research from Fiserv, 69% of people who have and use multiple cards say rewards are the primary influencer when it comes to deciding what card to use for a purchase.
“Today’s consumer expects to be rewarded for loyalty, and they appreciate the ability to redeem rewards in a variety of ways, at places they already visit,” said Rajeev Yerukalapudi, vice president of Product Management at Fiserv. “Fuel is a regular purchase for the majority of households, and diversifying uChoose Rewards to enable redemption of points at the pump allows financial institutions to broaden the appeal of their card rewards programs.”
The integration of uChoose Rewards with Engage People’s platform allows a seamless transaction experience for the cardholder. When an eligible cardholder swipes their card at any participating bp and Amoco pump, the user will be automatically prompted with an offer to utilize their points. This creates a superior experience for the cardholder, while requiring no additional work from financial institutions.
uChoose Rewards is a flexible loyalty program that boosts activation and use of credit or debit cards by enabling cardholders to earn points and redeem them for items of value, including gift cards, travel, cash back, merchandise and more. The highly customizable solution enables financial institutions to implement a rewards program that best suits its objectives and cardholder base.
In a world that is moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
About Engage People
Engage People is the only loyalty network that enables program members to pay with points directly at checkout. The global technology provider connects loyalty programs with global payment systems and online retailers, and covers 100% of the top purchase categories in North America. Leading banks and retailers around the world rely on Engage People for its first-of-its-kind loyalty network and pay-with-points capabilities. Engage People is headquartered in Toronto, Ontario, Canada and has offices in the U.S., Canada and Italy. For more information visit: www.engagepeople.com.
About Velocity Logic
Velocity Logic is a leader in bringing innovative reward solutions to the fuel and convenience store industry. Velocity's cloud-based solutions are built to provide flexibility and customer engagement for retailers. Velocity is the only company that can provide modular or a full turnkey software platform with a suite of reward technologies including its patented loyalty switch technology, c-store rewards, credit card enrollment, and the partner redemption platform. Each is uniquely designed to give retailers a competitive advantage. Velocity Logic is headquartered in Binghamton, NY and has offices in the US, Canada, and India. For more information visit: www.velocitylogicgroup.com.
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