Good Points Blog

Case Studies: Top financial institutions protect loyal customers from rewards fraud

Loyalty program members, especially those in the financial services industry, expect those companies to guard their personal information in the most robust way possible. And while 72 percent of loyalty program managers report experiencing fraud, many are challenged to build a case internally for this type of protection. 

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The Rise of Loyalty Rewards Fraud

With 3.3 billion memberships in the U.S. alone, loyalty programs are worth $48 billion, according to Colloquy. Hackers and thieves see valuable loyalty currencies — the cache of points and miles socked away in countless programs — as easy targets since customers often monitor them less, compared to other financial assets.

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Redefining how loyal customers use credit card benefits

“At Discover, our focus is driving outstanding customer experiences. Our partner, Connexions Loyalty, provides highly valuable features and benefits to Discover customers each and every day to help us achieve these goals.” - Ryan Garton, Director Card Products & Features

Discover® ranked #1 in customer loyalty among leading credit card brands, according to the Brand Keys Customer Loyalty Engagement Index report. Even more impressive: Discover has won the credit card category many times over.

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Campaigns to increase credit card spend: Elite Rewards case study

“The Elite Rewards credit card offers a compelling mix of rewards to recognize cardholders for using their card. Our goal is to motivate cardholders to use their card for every purchase they make instead of using cash or another payment vehicle. Connexions Loyalty designed a promotional campaign to educate and motivate cardholders about the benefits of their card, along with an enticing bonus offer to generate card usage. This campaign not only paid for itself due to the results but also generated a sustainable lift in credit card usage among promotion participants.” - Andy Hodges, GVP, Elite Rewards Program Management

Elite Rewards: The Freedom of Choice. The Power of Points.

The Elite Rewards credit card rewards program enables cardholders to earn points for their everyday purchases. Elite Rewards points may be redeemed for gift cards to top merchants, merchandise such as iPods and tablets, and travel rewards including airline tickets, hotel and car rentals, cruises and activities. When cardholders use their Elite Rewards credit card for everyday purchases, both online and in-store, they accumulate more points to redeem for quality rewards.

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