BBVA Compass is now offering its credit card clients real-time redemption of rewards earned on qualified purchases made at any retailer.
The patent-pending innovation was introduced with the latest release of BBVA Wallet, the bank’s mobile wallet that gives clients an up-to-the-minute view of purchases, reward balances and more. BBVA Wallet purchase notifications ” sent to clients immediately following the use of their BBVA Compass credit cards ― now include cash rewards balances that can be redeemed for an account credit by simply responding to the alert.
When replying to a BBVA Wallet notification, BBVA Compass cardholders can redeem cash rewards to offset a portion (as little as $1) or all of a purchase, depending on the amount of rewards available.
BBVA Compass’ parent company, BBVA, first launched BBVA Wallet in 2013 in Spain and recently announced that the service has been downloaded more than 1 million times. It was introduced to clients in Chile, Mexico and the U.S. earlier this year, and Turkey’s Garanti Bank, in which BBVA has nearly a 40 percent stake, launched it under the name BonusFlas last week.
With the added functionality in BBVA Wallet, BBVA Compass cardholders can:
• access individual credit and debit card transaction details;
• set up credit and debit card transaction alerts;
• redeem credit card rewards in real-time;
• change the “nickname” assigned to a credit or debit card;
• activate a credit card;
• temporarily block credit card activity by turning card “on” or “off”;
• permanently block and request reissue of a credit card;
• change a credit card’s PIN.
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