Better Mortgage, a high-tech mortgage company that has made a name for itself for being the first one to offer zero-fee, zero-commission mortgages, is teaming up with Samsung to expand its offering with Samsung Rewards. The service, introduced last November by the South Korean industry, has been put in comparison with the points-based airline’s rewards program, and pretty much works how you would expect from a hypothetical Samsung rewards card - that is, you score points when you take part in “meaningful engagements” with Samsung Devices.
What engagements we are talking about you could easily imagine: when you complete a purchase with Samsung Pay you earn points. Like good ole credit cards, you say. As an actual fact though, Samsung Pay provides a further layer of abstraction, positioning itself as some kind of platform for credit cards. Since as long as May 2016 users can upload and store merchant membership and loyalty cards in Samsung Pay. But with Samsung Rewards API there’s a promise for much more automation and interesting cross-network feedback loops.
The news comes in fact together with the introduction of Samsung Rewards API. Through the integration of Samsung Rewards API and Better Mortgage, users earn Samsung Rewards when they get through the mortgage or refinancing process, while Samsung Rewards API takes care of confirming you hit the necessary milestones. Long story short, getting pre-approved, locking in a rate, or funding the transaction will earn you points, that you will be able to redeem for Samsung products, vouchers for Samsung.com, Samsung Rewards Visa Prepaid Card value, gifts cards and so forth. There will also be “Instant Wins”, i.e. prize givaways like, for example, a trip to Vegas.
As you remember, a few months ago Samsung started testing Samsung Rewards with Samsung Pay in Malaysia. After the first positive reactions there are now great expectations. “At Better” says Vishal Garg, CEO of Better Mortgage while announcing the partnership, “we’ve made it possible to get pre-approved for a mortgage in as little as three to five minutes without the hassle of cold calls or bait-and-switch pricing. By integrating with Samsung Rewards’ API, we’re able to provide an even better customer experience to a new audience who wants to do everything from paying for coffee to buying a home right from their phone.”