Cloud-based mobile rewards platform provider Perk has launched Perk Plastik, a new prepaid debit card that runs via the Discover Network.
It allows users to convert Perk Points into money available to be used at any retail or online establishment. The company has issued the card in partnership with Marqeta, an all API-based, dynamic issuer processor platform.
Perk members can enroll in Perk Plastik using the latest version of Perk Wallet and the card will be linked directly to the member’s account where Perk Points can then be directly transferred into funds that are accessible through the card. Members can use Perk Plastik anywhere Discover is accepted.
Omri Dahan, CRO of Marqeta, commented: “We have found that merchants today are not looking to change their point of sale to accept reward points as payment. Marqeta is able to convert points in real time helping Perk to provide its members with greater options for spending their rewards”.
The digitisation of reward and loyalty schemes has been on the up in recent times as more and more companies are seeking new ways to retain customers. The likes of Greggs, Google’s Android and Microsoft have all invested in exploring the rewards arena of the payments industry in a bid to stand out from other competitors.
Whitepapers
Related reading
5 ways blockchain can change the cross-border payments landscape
Cross-border payments is a changing sector of the industry, driven by customers demanding little to no friction and encountering multiple steps, intermediaries ... read more
The SME technology revolution | video
The UK is home to 5.4m micro SMEs that have fewer than nine employees, according to the House of Commons library. They ... read more
JP Morgan blockchain network showcases banks’ DLT progress
JP Morgan’s expansion of its blockchain-based interbank payments project signals that major banks are stealing a march on disruptors and startups by ... read more
Security a priority for EU’s INATBA blockchain taskforce
The European Commission’s new blockchain initiative, the International Association for Trusted Blockchain Applications (INATBA), should focus on quashing extant security concerns around ... read more