The Affinion Group announced Tuesday that it is launching a merchant-funded loyalty rewards platform, BankMyRewards, at the end of next month.
The Stamford, Conn. marketer said the technology will enable banks to push cash-back rewards directly to customers’ accounts after those people register their debit or credit cards or shop online.
"The platform enables merchants to provide highly targeted offers as well as ongoing significant value to the customers of financial institutions," says Tim Lukens, Affinion’s executive vice president of product development. It "really connects our merchant partners with our [bank] partners."
Affinion already operates a deals website called EverSave. Lukens says the company plans on leveraging its existing relationships with merchants in order to bolster its BankMyRewards program.