20 September 2017
Find out more

Discover invests in loyalty rewards start-up Buzz Points

02 April 2014  |  5149 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
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)

Finextra news in your inbox

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

Related stories

Birdback card-linked-offers platform scores £2.4 million funding round

Birdback card-linked-offers platform scores £2.4 million funding round

06 February 2014  |  5976 views  |  0 comments | 3 tweets | 2 linkedin
Loyalty start-up Red Zebra scores SBT Venture Capital investment

Loyalty start-up Red Zebra scores SBT Venture Capital investment

03 February 2014  |  6742 views  |  0 comments | 3 tweets
US debit networks back Discover application for common chip spec

US debit networks back Discover application for common chip spec

20 March 2013  |  8767 views  |  0 comments | 7 tweets | 11 linkedin
Discover ordered to refund customers $200m over deceptive marketing

Discover ordered to refund customers $200m over deceptive marketing

25 September 2012  |  5419 views  |  0 comments
MasterCard buys loyalty rewards specialist Truaxis

MasterCard buys loyalty rewards specialist Truaxis

07 September 2012  |  10019 views  |  0 comments
Discover backs Google Wallet

Discover backs Google Wallet

17 August 2012  |  8456 views  |  2 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.temenos.comvisit www.abe-eba.eu

Who is commenting?

A Finextra member Finextra Member Commented on: The C-Suite Challenges...
A Finextra member Finextra Member Commented on: Dutch bank sentences t...

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
10292 views comments | 22 tweets | 39 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10258 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9112 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7586 views comments | 5 tweets | 4 linkedin
ING moves into digital wealth management with Scalable CapitalING moves into digital wealth management w...
7463 views comments | 14 tweets | 15 linkedin

Featured job

A minimum of £200K (not a limiting factor)
London

Find your next job