Loyalty and rewards

Large banks that counted on airline and hospitality points to drive loan growth in the credit card business are anticipating renewed demand once safety concerns subside. But they’re also cautioning that the recovery in travel spending is likely to be gradual.

There are signs that participation in cardholder loyalty offerings is slipping. Credit unions must reengage members if they hope to retain those accounts.

Mobile banking platform provider N26 is expanding its rewards program through a partnership with card-linked offer platform provider Dosh, enabling customers to earn cash back when using an N26 debit card.

As wireless handset costs rise, American Express is throwing in insurance coverage for phone repair or replacement on top-tier rewards cards as another way to get upscale travel-and-entertainment customers to stick around as the pandemic drags on.

I2c and Unifimoney change incentives to fit market conditions, rather than focusing primarily on boosting consumer spending.

Discovery Bank in South Africa and other overseas financial companies say healthier customers are more profitable. They are giving reward points, gym subsidies and even free Apple Watches to those who meet fitness goals.

Walmart’s warehouse unit Sam’s Club is introducing digital features and new rewards tiers to modernize its Synchrony-issued Mastercard.

The question isn't whether things will magically return to the 2019 status quo, but where is there still pent-up demand among consumers and merchants?

In the pandemic age, banks are getting creative in a bid to keep affluent customers.

Walgreens is collaborating with Synchrony to roll out a cobranded credit card with an eye on the convergence of digital tools for spending and health care.