Buzz Points loyalty provider fisoc recently partnered with PULSE to offer the loyalty program to the network’s participants, which would enable banks and other institutions to connect with consumers and merchants through special rewards and social media.
PULSE and fisoc piloted the Buzz Points loyalty program last year to gauge interest among financial institutions in finding a solution to offer rewards and strengthen relationships with account holders. Buzz Points was paired with Discover Debit, managed by PULSE, to offer rewards to consumers who shop locally and support local businesses. Participating cardholders earned points that could be donated to charity or redeemed for gift cards.
Buzz Points will now be offered to PULSE financial institutions in certain markets, though the program will be expanded and offered to other PULSE participants later in the year.
“Our loyalty platform is an innovative program featuring meaningful rewards and discounts for consumers, while benefiting local businesses,” fisoc CEO Jay Valanju said. “In this digital age, our solution enables PULSE to offer its financial institution participants a fully turn-key rewards program. This will provide a distinct advantage to PULSE in the highly competitive debit industry.”
PULSE is offering the program as just one of its strategic investments to maximize their debit portfolios and compete in the market.
“After recent regulations significantly changed the debit landscape, we were seeking an innovative rewards platform to help our issuers boost cardholder loyalty, encourage debit use and improve their bottom lines,” Judith McGuire, PULSE’s executive vice president of product management, said. “The program had to demonstrate value to both issuers and merchants. It also had to be easy to implement and help issuers build relationships with consumers and merchants. The Buzz Points program delivers on all of our criteria.”