Meet Loyalty Rewards
Today Bumped is introducing Loyalty Rewards! This feature was a part of the ‘original Bumped’ back in our pilot days, and we are so excited to be bringing it to all Bumped users now!
Loyalty Rewards allow you to own what you love, automatically, when you spend with your favorite brands.
How Loyalty Rewards work
Loyalty Rewards link to your existing credit or debit cards, in addition to any rewards you receive from that card. That means that all you have to do is choose which Loyalty Brands you want to be loyal to and link your cards to Bumped. You’ll become an owner as you shop with those brands. You can read more on how it works here, or check it out in your Bumped account by following these steps:
- Select your favorite brand in each category, from Transport to Coffee to Entertainment — you’ll find them all in the “Loyalty” menu item.
- Link Your Cards. You’ll need to link your spending cards to get Loyalty Rewards — even if you’ve already connected cards to Bumped in the past! Head to the Menu, tap Linked Cards.
- Own what you love. Whenever possible, Bumped will reward you in fractional shares of stock in the Loyalty Brand you choose. Otherwise — for example, if a brand is not publicly traded — you’ll pick your stock rewards when you select your loyalty.
Why Loyalty Rewards
Loyalty Rewards are directly tied to the Bumped mission — to create an ownership economy. We know that new “economies” don’t happen overnight, or even over a year or two. It takes deliberate partnership between consumers and organizations to create a system that works for all.
And through the course of our pilot, we saw how much Loyalty Rewards shifted that relationship for both the consumers and the brands participating. You can read the comprehensive study of our pilot here, but suffice it to say that becoming an owner increases loyalty to the brand through increased visits and increased spend.
Little did we know this would become even more relevant in the wake of 2021’s Game Stop, market, and investing news — the fundamental truth of the stock market has been publicly called into light: Everyday consumers can win when they own a piece of it. And this study shows there is a collective win for both sides of the relationship with Loyalty Rewards– brands and consumers can succeed when individuals become owners.
Unlocking Future Loyalty Rewards
All Bumped users get access to Loyalty Rewards until at least June 30,2021. As this is a brand new feature, occasionally Bumped may ask users to complete an action to unlock another quarter of Loyalty Rewards, get access to a new brand, etc... Don’t worry, you’ll hear from us in advance! Thanks for your patience as we roll out improvements and refine the feature!
So whether you buy some new clothes this weekend, pay your monthly streaming services bill, or fill your tank up with gas — we hope you’ll think about those transactions as a choice, a vote for the brand you’re loyal to. And we hope you’ll set up your Bumped account to get you fractional shares of stock in the brands you choose to spend with so that over time you can gain ownership in companies that represent your life and your choices.
We are so excited to launch this new way for you to turn your everyday spending into investing. Go forth and own what you love!