Fiserv Launches New Mobile App for Consumer Loyalty Rewards

Fiserv introduced an upgraded mobile app for its UChoose Rewards product, allowing customers to use their mobile devices to earn rewards from select merchants, the financial services solutions provider announced today in a statement. The new app will provide a customized map showing participating merchants and displaying offers from those merchants, the statement said.

Consumers will also be able to scan UPC codes on merchandise in-store with their mobile device to see if they can purchase an item with their rewards points. The app is available for Android and iOS devices, according to the statement. "This added functionality makes it easier for cardholders to take advantage of merchant-funded offers and ear additional bonus rewards points," Holly Krest, Fiserv's senior vice president fo loyalty solutions, said in the statement.

[See Related: The Golden Age of Loyalty Rewards]

Krest added that more than 100,000 consumer used the UChoose Rewards product last year, redeeming more than $6 million in rewards. Fiserv's statement also said that UChoose Rewards registered cardholders used their cards for 50 percent more transactions than non-registered cardholders. That increased card usage leads to an extra $52 per year in incremental revenue for the card-issuing bank, according to the statement.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio