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Tech companies are pushing hard to make mobile payments more mainstream, but as of now, most people are still paying with good old plastic. In an attempt to persuade more customers to begin using its mobile payment platform, Samsung — which finally has some good news to share — has created a loyalty program, known as Samsung Rewards, with the ability to earn points when you make transactions with Samsung Pay.
Unlike most rewards-earning credit cards, which will award you points or miles based on the amount of dollars you spend, you’ll earn Samsung Rewards according to a tiered structure that awards a fixed number of points based on the number of transactions you make in a given month. For example, from your first purchase up to your fifth (Entry Level Tier), you’ll earn 10 points per qualified transaction. But, if you make 31 or more transactions with Samsung Pay in a given month (Platinum Tier), you’ll earn 40 points per qualified transaction.
Quite possibly the best feature of Samsung Rewards is the ability to ‘double dip’ on your rewards. If you hold a points-earning credit card such as the Chase Sapphire Reserve (3x on travel and dining expenses), Chase Freedom (5x on a rotating bonus category), Chase Freedom Unlimited (1.5x on every purchase) or the American Express Premier Rewards Gold (2x on gas purchases), which offer significant bonuses on certain categories of purchases, this program could be especially lucrative for you as you’d earn points in your card’s program and Samsung Rewards on top of that.
Samsung Rewards can be redeemed for Samsung products, prepaid Visa gift cards as well as gift cards from select other retailers — points are worth 1 cent each toward gift card redemptions. Samsung claims that there will be partnerships with retailers that will allow users to earn bonus points for a limited time. In fact, there’s already a promotion running — anyone who joins Samsung rewards in November or December will earn double points for purchases made in those months, plus half off redemptions.
Featured image courtesy of Getty Images.
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