Blackhawk Network introduces same day rebate processing solution

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Loyalty and rewards program are quite popular in the United States. The country's gift card market in terms of transaction value is expected to record a CAGR of 10.0% during 2017-2021 to reach US$ 313,822.7 million by 2021, increasing from US$ 214,530.3 million in 2017. Over the last five years the sector has recorded a CAGR of 14.3%, increasing from US$ 111,971.8 million in 2012 to reach US$ 191,240.8 million in 2016. Increasingly, consumers prefer accessing their loyalty programs online and this is shifting towards mobile. Owing to this customer behavior, rate of innovation in designing loyalty schemes is expected gain momentum in 2017. There is also increased focus on capturing rich customer centric data to understand behavioral pattern. Moreover, mobile and digital platform based reward systems is a cost-effective solution for service providers.

Blackhawk Network Holdings, Inc., a stored value and payment solution provider, declared the launch of a new rebate processing solution, On-the-Spot Rewards. In this scheme, customers can qualify and submit a utility sponsored rebate and avail the rewards in the same day. This solution was exhibited in Orlando in February 2017 and will be available across United States. In this, customers can earn rewards by availing in-home service and installing HVAC or energy efficient product from utility and service providers. The service providers need to enroll in the scheme and then invite technicians to participate in this system. After providing a particular service, the technician needs to submit customer details via a mobile app and provide and inactive open loop reward card to the customer. Details for activating the rewards cards is emailed to the customer the same day which can then be used to earn rewards worth USD 1000 by logging in through a web portal.

To know more and gain deeper understanding of prepaid gift card industry in the United States, click here