An Integrated payment and transaction processing company, Interswitch through several established merchants in the country, has intensified its Reward Money Loyalty campaign.
The idea is to reward Verve cardholders with cash.
The first in-mall activation took place at the Ikeja Shopping Mall, with some of the merchants such as US Polo, Accessories to die for, and KFC, among others.
Winners were instantly rewarded with N5,000 gift vouchers to make purchases at any of the merchant locations.
According to the firm, customers, who make purchase with Verve cards are awarded reward money for purchases made at merchant locations.
The Director, Switching and Processing, at Interswitch, Mr. Akeem Lawal, while speaking at the activation of the loyalty programme at merchant locations at the Surulere Shopping mall on Friday, said the Reward Money was an innovative merchant loyalty scheme, which allowed Verve cardholders to get instant rewards for using their cards at merchant locations.
For the Surulere mall, he said the firm had started a partnership with 12 merchants and hoped to increase the number in a few days; adding that the programme would be expanded to The Palms, Lekki soonest.
Lawal said, “This is first of its kind loyalty programme in Nigeria, as it allows customers to earn Reward Money based on each merchant’s pre-agreed Reward Money allocation.
“The Reward Money earned is instantly converted to spendable money on the customer’s card. The receipt obtained from the merchants PoS shows the Reward Money earned and the total Reward Money balance accumulated.”
He added that the solution had been designed to be simple to use, simple to earn and simple to redeem.
He said it was very easy for the merchant to use and operate as it was automated and required minimal human interaction from the merchant and cardholders.
“For instance, the PoS terminal recognises the cardholder and automatically awards the merchant specified Reward Money to the cardholder based on the amount spent. The more money the customer spends at the merchant using a Verve card, the more Reward Money earned,” Lawal said.