A leading mobile payment firm recently announced a new loyalty program that will give users the chance to get discounts on items they frequently purchase.
The New York Times reports that Square released a digital loyalty program that rewards shoppers with benefits after purchasing a given amount of items. While many stores already have a physical card that merchants stamp each time a transaction occurs, the new system will be able to achieve this in a more effective way, according to the company.
In an interview with the source, Square’s chief operating officer Keith Rabois said that people were prone to losing the paper versions of the rewards cards and that the new system would make sure it couldn’t get misplaced.
“Those punch cards that you get and stick on your refrigerator and leave behind? On your phone you have one for every merchant you visit,” Rabois told the paper.
The merchant services firm made other headlines recently when it reached a major milestone. Square stated that users of its payment system totaled two million and that it had processed $6 billion in transactions since its founding.Back To Blog