New rewards program
Companies in different industries will participate
American Express will roll out a unique loyalty program on Monday.
New York — American Express will roll out a new loyalty program, Plenti, on Monday, allowing U.S. shoppers for the first time to earn rewards points through a variety of purchases, from paying a phone bill to filling up at the pump.
Unlike other loyalty programs, such as frequent flier plans, Plenti isn’t tied to a single company or credit card issuer. Users can join for free and don’t have to be American Express members.
Customers will be able to accumulate points through purchases at Enterprise Rent-a-car, Rite Aid, Macy’s and a number of other companies, which can then be used for discounts at any participating vendor. Plenti points built up by buying gas or a Nationwide insurance policy, for example, could earn discounts on an electric bill from Direct Energy or milk from Rite Aid.
“It will really be the first time where U.S. consumers, on a single program, can take the rewards they’ve earned in one industry and take it to another,” said Abeer Bhatia, chief executive of US Loyalty at American Express.
Loyalty programs aim to keep customers coming back by allowing them to earn points toward discounts or other rewards. But these programs are often tied to one or two retailers and limited in how they can be used.
Plenti’s program is straightforward. A customer signs up at a participating merchant, on the Plenti app for smartphones or on Plenti.com. Every time a customer spends money, either with cash or by using a debit or credit card, they will earn “Plenti Points” after giving their Plenti account number. The number of points a customer earns on a transaction will vary from merchant to merchant.
Plenti Points can be redeemed in 1,000-point increments for $10 in savings.
Companies participating in the Plenti launch include AT&T, Exxon Mobil, Macy’s, Nationwide, Rite Aid, utility company Direct Energy and video streaming service Hulu.com. Enterprise Rent-a-car, which includes the rental car brands Enterprise, Alamo and National, also is joining. American Express expects the network to expand.
Customers will be able to link their grocery store loyalty program to Plenti and earn points for Plenti through everyday spending at stores.