31 August 2015

Discover invests in loyalty rewards start-up Buzz Points

02 April 2014  |  3997 views  |  1 Woman shopping for xmas presents

Discover Financial Services has invested in Buzz Points as part of a $19 million funding round for the loyalty rewards outfit.

The investment - terms of which have not been disclosed - comes off the back of a relationship between Buzz Points and Discover-owned interbank electronic funds transfer network Pulse Network.

Since 2012, Pulse and Buzz Points have been working on a loyalty programme for financial institutions to encourage their customers to shop locally and support local merchants. Buzz Points has processed more than $1.8 billion in transactions authorised by financial institutions in the programme.

Dave Schneider, president, Pulse, says: "After evaluating several debit card loyalty programs, Buzz Points emerged as a leader and has demonstrated its value to issuers, consumers and merchants. The investment enhances our efforts to leverage Buzz Points' technology throughout the network, while giving our issuers an outstanding merchant-centered loyalty program."

The funding round was led by Lead Edge Ventures, along with existing investors including KEC Ventures and Greycroft Ventures. Buzz Points says it will use the money to bring more banks and credit unions into its programme and expand its marketing platform for local businesses.

Comments: (1)

A Finextra member | 12 June, 2014, 10:33

Not only Pulse and Buzz Points providing but also several third party companies providing Loyalty programs to enhance the sales as well as satisfies the customers. Now a treny ideas that Loyalty program software have been provind that allows users to manage reward points rether using loyalty cards.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

06 February, 2014
03 February, 2014
20 March, 2013
25 September, 2012
07 September, 2012
17 August, 2012

Related company news

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Android Pay could launch this week
6575 views comments | 26 tweets | 22 linkedin
SunGard system glitch causes havoc for BNY...
6310 views comments | 13 tweets | 12 linkedin
FIS opens Indian financial inclusion lab
6012 views comments | 14 tweets | 2 linkedin
Kenya's NIC Bank links to Twitter and What...
5697 views comments | 27 tweets | 15 linkedin
Wirecard bids for Worldpay - Bloomberg
5196 views comments | 10 tweets | 7 linkedin

Featured job

Excellent Salary and Company benefits package
London

Find your next job