Loyalty and rewards

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.

Nana Murugesan, Samsung vice president and general manager, spoke to PaymentsSource about Samsung's strategy for making its mobile wallet stand out in the increasingly competitive digital payments market.

It's possible to use mobile wallets such as Apple Pay to enroll vending machine customers into a loyalty program — a concept that seems at odds with the impulsive and anonymous nature of most vending machine purchases.

JPMorgan Chase & Co.’s role in mobile payments is getting more interesting.

Royal Bank of Canada is providing a virtual reality "try before you buy" experience for its RBC Rewards customers.

Canadians have a simple message for the U.S. credit card industry: Don't fiddle with our rewards programs.

Apple Pay users will have the option to make payments with gift and loyalty cards through an arrangement with Blackhawk Network's digital stored value system.

Big data was supposed to unleash a lot of powerful insights for banks, but many financial institutions still haven’t found a way to harness their own data because the amount of available information is so vast.