YES Bank — Please enable Donation of Debit Cards Rewardz Points to PM Cares Fund @ COVID19

Link to my blog post @ https://innovationinbanking.blogspot.com/2020/04/yes-bank-please-enable-donation-of.html

The YES Bank Rewardz program is managed by ‘Loylty Rewardz’.

Loylty Rewardz is a B2B loyalty and rewards management company focussing on development and management of consumer loyalty, data intelligence, and direct marketing communication.

YES Bank customers get to choose the rewards as per their eligibility from the Rewardz Catalogue. The exact rewards are accessible only to YES Bank customers. As per YES Bank website, the reward points can be redeemed for wide range of categories.

There is a different catalogue for debit card holders and credit card holders.

Rewards can be chosen based on 01) Brand 02) Category 03) Occasion 04) Recipient

Each reward point is worth INR.25 for eg: YES Bank customer desires to receive a INR@250/- Myntra Gift Card he/she has to burn 1000 YES Rewardz points.

To raise the bar for customer satisfaction YES Bank has enabled its credit cardholders to redeem its reward points towards a donation for PM CARES FUND:

This was announced by YES Bank by a tweet.

Press Release excerpt:

“In line with this, the Bank has also enabled redemption of YES BANK Credit Cards reward points towards contribution to the PM Cares Fund. Customers can redeem their rewards points in denominations of INR 250, INR 500 and INR 1000 on www.yesrewardz.com/CreditCard/. However, cardmembers will not receive a tax exemption certificate for contributions made using reward points.”

The salient features of the facility enabled by the bank include having no upper cap to donations i.e. all funds that are available in the form of reward points will be available for redemption.

Waiver of reward points redemption fees for redemption to PM CARES FUND, thereby giving them the comfort of showing their support in the fight against the pandemic whilst being in the comforts and safety of their homes.

It also gives out multiple denominations ranging out from minimum Rs.250, Rs.500 and Rs. 1000 for your valuable contribution.

This special deal is made possible by a seamless collaboration between the banker’s team and ‘Loylty Rewardz’ team, for a guilt-free contribution towards the noble cause without foregoing their cash.

It would be wonderful for YES Bank to:

01) Enable this facility for debit card holders too.

02) Highlight the redemption of YES Bank Credit Card Rewardz to PM CARES FUND.

Go ahead, and redeem your YES Bank Credit Cards towards PM CARES FUND.