ASIA: Samsung Rewards launches in Singapore to encourage Samsung Pay uptake

Samsung Rewards officially launched in Singapore on Friday, 15th September, as the South Korean tech giant looks to incentivize Samsung Pay usage. Samsung Rewards offers a three-tiered loyalty program, with Samsung Pay users earning rewards points for making transactions. Reward points can subsequently be redeemed for gift vouchers from participating merchants. Alternatively, users can play in-app games to win items, such as a Samsung Gear Fit2.

RFi Group data indicates that NFC mobile payments have been slow to take off in Singapore, with just 10% of banked consumers indicating that they have used a smartphone to make a contactless payment in the last 12 months. Speed at checkout is the primary reason for using a smartphone to make a contactless payment, however, contactless cards also offer a similarly fast checkout.

Meanwhile, rewards is among the features most likely to drive contactless mobile payment adoption, with 55% of banked consumers in Singapore agreeing that they would use rewards more frequently if they could earn rewards.

The three-tiered rewards program starts users off at the Bronze tier, which nets them 10 points for every transaction they make. Users are then upgraded to Silver after making 10 transactions, and eventually Gold status upon hitting 30 transactions. Gold status users are awarded 30 points per transaction. Reward points are capped at 50 transactions per month, and points earned are valid for up to 6 months.

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