Credit Cards, Rewards and Blockchain

Getting extra points or cash-backs when one swipes cards for fuel, travel, hotels etc. is not a surprise anymore. But blockchain and AI can be soon making these rewards deeper and smarter.
Card-industry players were struggling with ways to target individual items on a store’s shelf as merchants’ inventory systems varied from company to company.
But AmEx has found respite in a blockchain technology developed by Hyperledger that allows it generation of product-targeted offers without any need for merchants to shuffle inventory management systems. Now it is on a pilot that will allow merchants to reward customers for purchasing specific items at their stores.
HSBC is not far behind, with a pilot program already rolled earlier this year for sending marketing emails to 75,000 customers using algorithms.

Sign Up for Our Newsletters

Get smarter with most important stories.

You May Also Like