|By Jim Bruene on April 20, 2012 11:24 AM | Comments|
Although it was one of the last major banks to launch an iPhone app, Capital One is now positioning itself to be a leader in mobile. Its April 5 iPhone app update included a new rewards function that's the best I've seen.
Rewards point totals are clearly shown on an old-school "flip number" display (see screenshot right). But the novel part, and this may be an industry first, is the ability to redeem rewards in real-time, for travel purchases you've ALREADY MADE. (You can also redeem for cash or gift cards.)
I thought this was some kind of typo when I first saw it in the marketing material. So I tested it myself this morning. And sure enough it does exactly what it says.
Previous travel purchases made on the Capital One card are displayed in the app. Users select the one(s) they want to redeem for mileage points and Capital One provides a statement credit to refund the user for the purchase. Brilliant!
Capital One's mobile reward redemption for previous travel (20 April 2012)
Note: Select a transaction (below left), confirm (below right).
- Browse our products
- Find branch/ATM
- Mobile banking FAQ
- Contact us
These are useful for customers who can't or don't want to log in. And of course, for prospects kicking the "mobile tires" at the bank.
Most Recent Posts:
- Announcing FinovateEurope 2015 (February 10-11 in London) -- Buy your ticket early to save big and lock in your seat! - May 14, 2014
- New OBR Published: Mobile Account Opening - May 13, 2014
- FinovateSpring 2014 Best of Show Winners - May 01, 2014