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The program is paid for by the merchants making the discount offers, not by Bank of America. Chase, Regions Bank and others are offering similar types of discount programs. Merchant-funded rewards programs are filling the space left by the elimination of debit card rewards programs, which have declined in the past year and a half as regulations limited the fees banks collected. Banks see such offers as a way to build loyalty. The idea is that a customer will use the card linked to the deals she likes more often. Godsman said there is no timetable for when the program will be rolled out to all of its customers. "This is a test and learn," he said. The bank will be looking for feedback from employees on how they use the program, and will assess the redemption rate and acceptance of the program before opening it up to a broader customer base.
[Associated
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