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Why acquirers are key to solve one of the main pains of card issuers

There is an estimated $16 billion of loyalty rewards that go unused every year – and card issuers are not exempt from this challenge. Many of them launch points-based loyalty programmes, but end up with a huge amount of unredeemed points. Aside from the obvious liability on balance sheets, this also seems to suggest that customers are not engaging with their programmes.

To combat this, banks try to use traditional redemption processes – which are often cumbersome and require a lot of effort from the end consumer – or they build web catalogues, which can be successful but when introduced as a standalone feature often don’t do the job well enough.

Card issuers want to accelerate points-redemption – both in terms of volume, and transaction size.

Welcome Real Time’s “pay with points” at point of sale (POS) is an efficient and easy-to-use redemption channel that not only benefits card issuers, but also creates new revenue streams for merchant acquirers by bringing new capabilities to their under-utilised POS terminals.