PULSE and fisoc Announce Agreement to Provide Buzz Points Rewards Program to Financial Institutions
24 Aprile 2013 - 3:00PM
Business Wire
fisoc, provider of the Buzz Points™ loyalty program, has joined
with PULSE to offer Buzz Points to the network’s participants. Buzz
Points enables financial institutions to connect with consumers and
merchants through rewards and social-media engagement.
Last year, PULSE and fisoc began a pilot to gauge financial
institutions’ interest in a comprehensive solution for offering
rewards and strengthening relationships with their account holders.
During the pilot, Buzz Points was aligned with Discover® Debit,
managed by PULSE, to offer rewards that encourage consumers to shop
locally and support merchants in their communities. Participating
cardholders earned reward points that could be redeemed for gift
cards or donated to charitable causes.
Based on the pilot’s success, Buzz Points is now being made
available to PULSE financial institutions in select markets. Plans
are under way to begin introducing Buzz Points to other PULSE
participants later this year.
“Our loyalty platform is an innovative program featuring
meaningful rewards and discounts for consumers, while benefiting
local businesses,” said Jay Valanju, fisoc CEO. “In this digital
age, our solution enables PULSE to offer its financial institution
participants a fully turn-key rewards program. This will provide a
distinct advantage to PULSE in the highly competitive debit
industry.”
Offering Buzz Points is one more example of the strategic
investments PULSE is making in products and services to help its
participants maximize their debit portfolios.
“After recent regulations significantly changed the debit
landscape, we were seeking an innovative rewards platform to help
our issuers boost cardholder loyalty, encourage debit use and
improve their bottom lines,” said Judith McGuire, PULSE Executive
Vice President of Product Management. “The program had to
demonstrate value to both issuers and merchants. It also had to be
easy to implement and help issuers build relationships with
consumers and merchants. The Buzz Points program delivers on all of
our criteria.”
About fisoc and Buzz Points
fisoc, Inc., has developed the Buzz Points product suite that
connects consumers, local merchants and community financial
institutions through social-media engagement, targeted
marketing, and rewards. Buzz Points enables credit unions and
community banks to generate more non-interest income, increase
transactions, reduce account attrition, drive new loans, and
attract new customers. Buzz Points’ Merchant Program provides
additional revenue to financial institutions, increases existing
consumer loyalty, and supports local businesses by increasing their
market reach and attracting new customers. Investors
include Greycroft Partners, KEC
Holdings, Metamorphic Ventures, Daylight
Partners and Angel Investors. For more information, please
visit: www.fisoc.com.
About PULSE
PULSE, a Discover Financial Services (NYSE: DFS) company, is a
leading debit/ATM network, serving approximately 6,100 financial
institutions across the United States. This includes more than
4,100 issuers with which PULSE has direct relationships and 2,000
additional issuers through agreements PULSE has with other debit
networks. PULSE links cardholders with ATMs and POS terminals at
retail locations nationwide. Through its global ATM network, PULSE
provides worldwide cash access for Diners Club and Discover
cardholders through more than 900,000 ATM locations. The company
also is a source of electronic payments research and is committed
to providing its participants with education on emerging products,
services and trends in the payments industry. For more information,
visit www.pulsenetwork.com.
Buzz Points is a trademark of fisoc, Inc.
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