Samsung Pay is launching a rewards program that will give you points on every purchase you make using the service, in an attempt to incentivize customers to use its mobile payment product. Users can accrue points for every purchase made through Samsung Pay, and if you have a credit card with its own reward system, you can essentially double up on points with each transaction.
The Samsung Rewards program — which will live inside the Samsung Pay app — will let you redeem points for gift cards from major retailers, Visa gift cards, and Samsung products. Samsung says there will also be “Instant Win” prizes for users, the first of which is a trip for two to Napa Valley.
Samsung Rewards will roll out this week
As with most reward programs, the more purchases you make the higher your status will become. There are three tiers in Samsung Rewards: Silver, Gold, and Platinum. Users who log five transactions in a month will gain Silver status, which offers twice the points on every purchase. If you rack up 20 transactions in a month, you’ll get Gold status which grants you triple points on every purchase; Platinum status begins at 30 transactions in a month and gives you four times the points on every purchase.
While Samsung Rewards doesn’t stack up favorably against rewards programs from banks like Chase, American Express, or Citi, it isn’t dependent on having a card with them, and it could appeal to the early adopters who use Samsung Pay on a regular basis. Samsung says it’s new rewards program will roll out this week.