Loyalty and rewards

While cash back remains a popular reward, consumers would like to see a rewards card in which they would have a choice to establish a program they consider most relevant.

The taxicab industry is facing disruption on two sides: Competition from ride-sharing apps like Uber and Lyft; and in-cab payment technology designed to bust cash payments. Verifone has been focused on the latter disruption.

EMV was a necessary advancement that wasn't guided by customer preference. For mobile payments and other m-commerce plays, instant consumer adoption isn't always a sign of success.

Credit card issuers usually reserve their richest rewards for customers at the higher end who are willing to pay steep annual fees. But a recent surge in credit card rewards deals targeting mainstream consumers signals a key strategy shift for issuers.

Rather than killing off the plastic card, smartphones are strengthening it. Many issuers' card accounts are more valuable than ever, with perks made possible only through the development of smartphone apps.

Loyalty programs can be a mixed blessing. When they work as advertised, they can lock in consumers and build relationships; when they fail, they vex shoppers and sour relationships.

Over the past five years, the slow-but-steady rise of mobile wallets seemed to signal the end of the plastic card era. But that's not how things played out.

Bigger isn't always better; as card issuers compete to bring in more spending, many are rethinking the way they offer rewards. Some of their approaches focus on streamlining redemption, while others dabble with cutting-edge technology such as virtual reality.

Amazon is revamping its cobranded rewards card, adding a higher tier of rewards for people who pay a $99 annual fee — as 65 million people already do — for Amazon Prime membership.

One of the chronic flaws of retailer-driven loyalty programs is that often it’s hard to actually get the rewards. Consumers complain that it takes too long or steps required are too cumbersome to conveniently redeem their points.