Fiserv, Inc. (FISV), a leading global provider of financial services technology solutions, today launched an upgraded mobile application for UChoose Rewards®, its award-winning rewards and loyalty product that provides merchant-funded and issuer-funded rewards capabilities for financial institution clients.
The enhancements provide UChoose Rewards participants with expanded mobile search and online point redemption capabilities that allow them to identify opportunities to earn points through the mobile platform.
UChoose Rewards participants have always been able to earn points through every day card usage at participating merchants. Now, they are able to see additional opportunities to earn bonus points at these merchants. With these enhancements, UChoose Rewards becomes one of the first loyalty rewards programs to provide these end-to-end services.
"Mobile capabilities are increasingly important to consumers, especially when considering a rewards program," said Holly Krest, senior vice president, Loyalty Solutions, Fiserv. "By expanding our existing mobile platform, UChoose Rewards simplifies the lives of consumers and helps them save money, all from their mobile device. This added functionality makes it easier for cardholders to take advantage of merchant-funded offers and earn additional/bonus rewards points. Last year, UChoose Rewards points were redeemed by more than 100,000 consumers for rewards valued at $6 million."
The application provides a customized map to the locations of participating merchants, enabling UChoose Rewards participants to see available offers from merchants that will earn them bonus points. Participants shopping in stores can scan UPC codes on merchandise to determine if the item is available through their rewards program and how many points are required to purchase it, continuing the program's award-winning service and innovative solutions.
UChoose Rewards participants can download the mobile application from Google Play for use on Android™ devices or iTunes® for use on iPhones® or iPads®. Existing app users will receive an automatic upgrade.
Rewards programs can help financial institutions increase customer loyalty, and cardholders who actively redeem rewards program points exhibit card preference. UChoose Rewards registered cardholders use their cards for 50 percent more transactions as compared to their non-registered peers, delivering $52 more in incremental annual revenue per cardholder to their card-issuing financial institution than those who haven't signed up.
UChoose Rewards from Fiserv is an innovative program that allows financial institutions to select from merchant-funded, issuer-funded or a blended rewards program. UChoose Rewards supports both consumer and small business market segments, and features a new in-store pick-up option at Best Buy®. Designed to incent cardholder usage, it provides benefits for both debit and credit programs.