Oil company’s Pump Rewards platform allows customers to redeem cents-per-gallon rebates to save on gas purchases.
BP Products North America Inc. announced today the launch of Pump Rewards, a new payment technology that lets loyal BP customers earn cents-per-gallon rebates and redeem them at BP gas stations to experience an instant rollback of gas prices. Customers can earn or acquire rebates in a variety of ways, including credit card rewards programs available now, and through one-time-use promotional cards and digital codes launching later this year.
The Pump Rewards launch is the first of many new, exciting programs BP is unveiling as part of a broader commitment to create a more compelling customer offer. Along with BP’s latest fuel advertising campaign, improvements in retail site experience, and its exclusive energy sponsorship of the U.S. Olympic Committee and Team USA, BP is continuing to invest significantly in the U.S. retail brand.
“The launch of Pump Rewards creates an entirely new purchase experience and adds an exciting new offer for consumers by delivering instant compensation on available rewards earned through their loyalty to BP.” said Corey Correnti, senior vice president of sales, supply and marketing at BP.
The Pump Rewards technology launched on March 3, 2012, alongside the new BP Visa and BP Card with Pump Rewards from Chase. The new rewards platform lets cardmembers earn cents-per-gallon rebates on card purchases and then redeem available rebates instantly at the pump when fueling at participating BP gas stations.
Unlike most credit cards, the BP Visa and BP Card with Pump Rewards do not require cardmembers to wait for monthly statements or to reach specific spending thresholds before redeeming rewards. Cardmembers simply swipe their card at the pump and use the pump’s key pad to redeem rewards and immediately lower the price any of BP’s three grades of gasoline with Invigorate.
BP Visa with Pump Rewards cardmembers will earn 15 cents-per-gallon rebates for every $100 spent at a BP station and 5 cents-per-gallon rebates on virtually all other purchases. Cardmembers who use BP’s proprietary gasoline card with Pump Rewards will earn 5 cents-per-gallon rebates for every $100 spent at BP.
“BP’s Pump Rewards introduces a unique and flexible new reward currency with a point-of- sale reward redemption feature,” said Ralph Pinto, senior director, Chase Card Services. “With this technology, cardmembers have the ability to redeem their available rewards and save in real time right at the gas pump.”
Once a purchase is posted to their account, cardmembers can redeem their available rebates as of8 a.m. ESTthe next morning via the following options:
* Paying at the pump by swiping their card at participating BP stations and watching their per-gallon price lower instantly.
* Redeeming a $15 statement credit for every $1 in cents-per-gallon rebates earned with the BP Visa with Pump Rewards and a $3 statement credit for every 20 cents in rebates earned with the BP Card with Pump Rewards.
In addition to being the only credit cards to offer instant savings at the pump, the BP Visa and BP Card with Pump Rewards charge no annual fee to cardmembers.