US-based digital rewards platform Rybbon has partnered with payments provider Blackhawk Network to provide businesses with virtual open-loop Mastercard reward options.
Blackhawk is said to have facilitated advancements in the digitisation of open-loop prepaid cards as rewards while integrating them into mobile wallets.
A research by Blackhawk reveals that digital prepaid rewards are preferred incentives when recipients want to earn rewards quickly.
Of those polled, 72% of the respondents reported high levels of satisfaction upon adding prepaid cards to mobile wallets.
Blackhawk Network Sales VP Bill Warshauer said: “Contactless payments are becoming more commonplace in the US and have significant traction globally—in fact, three out of five smartphone users have a mobile wallet.
“Digital prepaid solutions help businesses reach mobile-minded consumers while building brand engagement and reducing the time between behaviour and reward.”
The digital prepaid rewards solution is expected to help businesses offer a flexible solution to engage customers virtually.
Customers can add the Mastercard prepaid rewards to mobile wallets from Apple Pay, Google Pay and Samsung Pay and make purchases instantly.
Rybbon CEO Jignesh Shah said: “Consumers appreciate the speed and versatility of virtual rewards, and now is the time for businesses to leverage them to boost participation and engagement in programmes.
“Blackhawk’s virtual rewards enable our customers to deliver rewards usually within moments of someone earning them, no matter where they are.”