Quipu’s loyalty solution offers parameter-driven flexibility that allows financial institutions to define multiple loyalty programmes with various options for account enrolment, points accumulation and redemption methods.
Financial institutions can reward cardholders financially by crediting their account with a predetermined amount as a bonus for performing purchase transactions in certain retail outlets.
The bonus schemes are intended as an incentive to existing cardholders to make more extensive use of their cards in a merchant acquiring network, and as a means to attract new customers. Similarly, loyalty programmes can be used by wholesale and retail suppliers to reward clients for purchasing their goods and services. By presenting proof of participation in the loyalty scheme by means of a physical card or account number, cardholders earn the right to a discount on the current purchase and an equivalent number of loyalty award points are removed from the accumulated value.
The bonus value can be a fixed or variable amount, calculated according to the volume of transactions performed within a period of time (monthly, weekly, daily, etc.); against a target volume of transactions; or per transaction.