Posted by William Charles on January 17, 2018
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Published on January 17th, 2018 | by William Charles

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Samsung Pay Rewards Program – Devaluation Of Rewards Points & No More Referral Program

Update 01/17: Devaluation is now in place again. Fingers crossed you were able to use up your points before now.

Third update: Now some people that were showing the new redemption rates are now seeing the old ones. I’d redeem your points if you can get them to be worth 0.5¢.

Second update January 2nd, 2018: Looks like some people still see the old options…

Update January 2nd, 2018. Not 100% sure when this occurred but Samsung has made two negative changes to their rewards program:

  • Devalued points. Previously you could redeem points for the following:
    • $5 Visa gift card: 1,500 points (0.333¢)
    • $20 Visa gift card: 5,000 points (0.4¢)
    • $50 Visa gift card: 10,000 points (0.5¢)

Under the new program the only option is the $50 Visa gift card and this now requires 12,500 points (0.4¢).

  • Eliminated referral program. Previously you could refer friends and both parties would receive a $5 bonus

Original post November 14th, 2016: Samsung has added a rewards program to their mobile wallet/payment platform Samsung Pay. Users will receive points whenever they make a purchase using Samsung Pay and these points can be redeemed for gift cards (including Visa gift cards), Samsung products and more. In addition to this users can also instantly win prizes that change monthly.

In addition to this they’ve also launched loyalty tiers based on how many transactions you make per month. The rewards program is scheduled to begin on or about November 17th, 2016 at 6PM and the the first phase is scheduled to end at 11:59PM on November 17th, 2017.

Let’s take a deeper look at this new program.

04_app_home1

Contents

Samsung Rewards

Points are not tied to the value of each purchase, instead you earn a flat 10 points per qualified transaction (this increases based on your status outlined below). You’re also limited to earning points on 50 qualified transactions per month. Other restrictions included:

  • If multiple transactions are made within five (5) minutes, Participants will only earn Points for one (1) Qualified Transaction in these circumstances
  • Points earned will expire at the end of the calendar month one year after they are earned
  • Points will be awarded approximately within 24 hours of a qualified transaction.

Status Tiers

Samsung Rewards has three status levels

  • Silver status: Requires five transactions in one month and gives users twice the points for every transaction
  • Gold: Requires twenty transactions in one month and gives users triple points for every transaction
  • Platinum: Requires thirty transactions in one month and gives users quadruple points

status-levels

You can earn Tier status any time within the month by making the required number of transactions and your Tier status lasts the next following full calendar month. For example if you reached Platinum status on November 17th you’ll have that status level for the rest of November and all of December. You’d only receive 40x points per transaction for transactions made after you reached that level.

Instant Win Prizes

The program will award select active enrollees instant win prizes, the prizes will change monthly and to launch they are offering a trip for two to Napa Valley.

Redeeming Points

  • $10 merchant gift card: 2,400 points (0.416¢ per point)
  • $20 merchant gift card: 4,800 points (0.416¢ per point)
  • $50 merchant gift card: 10,000 points (0.5¢ per point)
  • $5 Visa gift card: 1,500 points (0.333¢)
  • $20 Visa gift card: 5,000 points (0.4¢)
  • $50 Visa gift card: 10,000 points (0.5¢)

Best bet is 0.5¢ per point.

Our Verdict

At best you’ll be able to earn a total of 2,000 points per month, that’s worth approximately $10 per month (if you max it out fully with Platinum status) if they aren’t holding any specials and you save up your points.

The nice thing about this is that you still earn the normal credit card rewards and get these Samsung pay rewards on top of it, you’ll also receive points if you use a debit card and most debit cards don’t have rewards programs anymore. I suspect all of the major mobile wallets/payments systems will introduce rewards programs in the near future as well.

Hat tip to reader Avrohom K



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P
P

Hmmm. I predict 100 points will be worth 1 cent

Jay
Jay

Yes, that would be the most likely scenario–being able to redeem them for Samsung Rewards GCs (i.e. for retailers who participate in the Samsung Rewards program) at 100:$1. Potentially a minimum redemption value of $5.

Considering that there’s really not much reason to not use Samsung Pay everywhere that it works (especially for chip-enabled terminals, where it would probably be faster), and that it does work almost everywhere thanks to MST, I don’t foresee any difficulty in attaining and maintaining Platinum status indefinitely under this loyalty structure, even with fully organic spending.

If our predictions are correct, this would basically be equivalent to a free $20 GC every month for minimal effort. That’s always nice to have 🙂

P
P

I stated 100 points would be worth 1 cent, $.01 not $1. So, it’s really only $2 per month. That’s the worst case scenario. My best case scenario is that 20 points is worth 1 cent.

mmgfarb
mmgfarb

Your math is way off. 2,000 points at $.01 a point = $20 a month.

Jay
Jay

I see what you meant in your original post now. Sorry I automatically jumped to the 100:$1 assumption, but that conversion is just so common that my mind just automatically read your post that way. 😛

Anyway, in that case I hope for our sakes that your prediction turns out to be off…though I genuinely believe that it won’t be anywhere near as crappy as your worst case scenario (or even your best case scenario).

Information Booth
Information Booth

If anybody wants to earn extra points, and you have a Galaxy 8, you can download the “Teach Bixby” app. and earn mega points. I’ve earned thousands of points by simply using Bixby and teaching it when it makes errors. If they accept a response suggestion from you, they will send you 100pts and add it to Bixby’s vocabulary… just put this here, for increased visibility. Love in Christ.

AB
AB

I’m pretty sure (called customer service) that the ability to earn Samsung Rewards via Bixby XP points ended late last year…and I cannot find a trace of a “Teach Bixby” app on the Playstore. I missed out on several promos, and I’ve had my Note 8 since Thanksgiving

Jay
Jay

“The rewards program is scheduled to begin on or about November 17th, 2016 at 6PM and the the first phase is scheduled to end at 11:59PM on November 17th, 2017.”

The first phase will only last for 6 hours? O.o

Jay
Jay

Nevermind, apparently my brain couldn’t comprehend the year 2017 coming to pass.

K. Patel
K. Patel

Pal, you had too many drinks today evening it looks like!!
You made series of blunders.
Good night.

P
P

Is Samsung pay U.S. only?
It would be exciting if it’s also available outside of the U.S. and someone outside the U.S. wins that trip for two to Napa Valley.

Lrdx
Lrdx

Now if it wasn’t only available on $300+ phones..

corradovr6
corradovr6

I have samsung pay and the rewards option isn’t on my phone. Did they already release the update for it and it is just targeted or…..I really haven’t used it that often.

Somwhere over Kansas
Somwhere over Kansas

I am reading this from my Galaxy Note 7 on an AA flight as we speak! So excited!!!
(better power this down before anyone sees!)

Mike
Mike

Hi William,

I rummaged through the TOS and couldn’t find any language limiting the amount of points that you could earn, only the amount of “qualified” transactions that could earn points per month (50). Best case scenario, Month 2 and onward, you could earn 40 points on 50 transactions.

How/where did you find out about the earning cap?

re: “At best you’ll be able to earn a total of 2,000 points per month…”

Ken east
Ken east

Does samsung pay code as 5x on chase ink for ebay gift card purchases?

Rye
Rye

My SP still has the 10,000 for a $50 VGC, I better cash out soon!

Alex
Alex

Just cashed out 10K points for $50 Visa card. I was waiting for a promo like they had a year ago or so when redemptions went up to 1c/pt but with this post figured I better redeem now.

As a side note, I just saw Samsung expired 500 of my points on 1/1. Of course, I never read the rules but it appears that the points expire after 1 year and activity in the account doesn’t extend the expiration.

G
G

I did not know the points would expire; thanks for the mention! 🙂

Jay
Jay

“Update January 2nd, 2018. Not 100% sure when this occurred but Samsung has made two negative changes to their rewards program”

Hmm, I don’t know where you saw this, but it certainly isn’t true for everyone. I just redeemed 20k points for a $100 rewards card a few seconds ago, same as I’ve always done in the past…

(Except of course during that short period at the end of 2016 when the insane $50 Samsung.com coupon for 1k points redemption was being offered)

Marvelous Marvin
Marvelous Marvin

That would suck to move the goal post. I have 8,000 points and was trying for 10,000 points in order to get the $50 gc. But if they raise it to 12,500 and expire all points after 12 months that would really devalue the program. Has the program become too successful? Or maybe there’s no competition.

Daisy
Daisy

My older account shows the old rates while my new account shows the new rates. Miffed that I now dipped below 20k points because I had some points expire that I didn’t know were expiring.

Alex
Alex

https://www.samsung.com/us/samsung-pay/rewards-terms-and-conditions/

2. Point Expiration. Points earned will expire at the end of the calendar month one year after they are earned.

The terms were updated 11/9/2017 and I don’t know if this expiration rule had been there before. I’m also not sure when the points were earned since they only show the history back to April 2017 on the app.

Anyway it’s 500 points so not much to worry about. I’ll just need to pay attention next time.

MontyFC
MontyFC

Looks like the expiration part has been in place since program’s inception:

https://web.archive.org/web/20161119134536/https://www.samsung.com/us/samsung-pay/rewards-terms-and-conditions/

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