Amazon Announces New Debit Rewards Program for Prime Subscribers
6-15-2017
Amazon.com, an ETA member and leading online retailer, announced Tuesday a new cash-back program for its Prime subscribers called Prime Reload, a digital “gift card” that, when loaded through a debit card and a bank account, will return a two percent reward based on the value of the deposit to the account balance.
Prime, Amazon’s $99 per year premium service, offers other rewards like expedited shipping and access to web streaming content to entice customers to sign up. According to research from Consumer Intelligence Research Partners, Prime subscribers spend on average $600 more per year on the website than their non-Prime peers — $1,300 to $700, respectively. While Amazon makes it a practice not to disclose subscriber numbers, Fortune estimates that Prime has over 80 million subscribers in the United States.
Amazon is not unfamiliar with rewards programs. They already offer a branded credit card through Chase that offers 5 percent back on Amazon purchases.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.