Fiserv Rewards Points now redeemable on Amazon Shop Program
Fiserv Rewards Points now redeemable on Amazon Shop Program
Amazon and Fiserv Partnership: Enhancing Rewards for uChoose Cardholders
In exciting news for avid online shoppers, Amazon and payments processor Fiserv have joined forces to offer a compelling opportunity for Fiserv’s uChoose debit and credit cardholders to shop on Amazon. The collaboration allows uChoose members to make purchases on Amazon and redeem their rewards through the Amazon Shop with Points program during checkout. The best part? There’s no fee to use uChoose Rewards points.
More than 200 financial institutions enrolled in uChoose are currently eligible for this partnership, with hundreds more expected to offer the feature by the year’s end. The demand for such collaborations is not surprising, as a 2022 Fiserv study has revealed that 71% of consumers with multiple credit cards base their card usage decisions on the opportunity to accumulate rewards.
This venture between Amazon and Fiserv is part of a larger trend in the credit card industry. Other credit card link-ups have also made headlines recently, such as Walmart and Expedia, who have launched travel perks for Walmart+ subscribers. These partnerships are aimed at enhancing the user experience and rewarding loyal customers by providing them with exclusive benefits and rewards.
While Fiserv celebrated its second-quarter revenue increase of 7%, reaching $4.76 billion, with a 14% rise in net income to $683 million compared to the same period last year, the CEO, Frank Bisignano, acknowledges the changing landscape fueled by evolving consumer expectations. Bisignano believes that the expectations for GDP and consumer spending have improved for the rest of 2023.
Financial institutions, despite the tightening net interest margins and easing lending activity, still maintain healthy spending patterns and intentions. However, it is important to note that these institutions are now focusing on offering card and non-card payment services, digital banking, IT modernization, and data analytics. Fiserv has been entrusted by these institutions to deliver on these demands, demonstrating the trust and reliance placed upon them.
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To make the most of this collaboration and ensure maximizing rewards, uChoose members are encouraged to enroll in the Amazon Shop with Points program. By doing so, they can unlock the full potential of their rewards and enjoy a seamless and rewarding shopping experience on Amazon.
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