Pulse, a Discover Financial Services debit and ATM network, is partnering with fisoc Inc. to roll out the Buzz Points loyalty program to financial institutions.
With Buzz Points, financial institutions can connect with merchants and consumers through social media engagement features.
"After recent regulations significantly changed the debit landscape, we were seeking an innovative rewards platform to help our issuers boost cardholder loyalty, encourage debit use and improve their bottom lines," says Judith McGuire, Pulse's executive vice president of product management, in an April 24 press release.
During the pilot, consumers were encouraged to support local merchants. The rewards consumers received could be used for gift cards or to make charitable donations.
"In this digital age, our solution enables Pulse to offer its financial institution participants a fully turn-key rewards program," says Jay Valanju, fisoc's CEO, in the release. "This will provide a distinct advantage to Pulse in the highly competitive debit industry."
Pulse began testing the debit card program with fisoc's rewards program last year. Pulse serves about 6,100 financial institutions throughout the U.S.
