Verizon (VZ) is rolling out a Verizon rewards program.
The company’s 100 million-plus subscribers will have access to the Verizon rewards program. Here are five things to know about it:
- Smart Rewards allows users to earn points for every dollar spent on on wireless service. Points can also be earned for money used to upgrade to smartphones and recycling old phones, among other activities.
- The Verizon rewards program allows users to redeem their points for discounts on hotel rooms, car rentals and products from a Verizon catalog. They can also be used in auctions to bid on phones and other devices on Verizon’s website.
- There’s a catch to joining the program — users have to give Verizon consent to have their activity tracked so the company can target ads that match their interests.
- Smart Rewards is also being used to encourage users to enroll in Verizon Selects, a program launched in 2012 that uses surfing and location data to target ads for subscribers on their phones. Users who stay with Selects get Smart Rewards points every month.
- The program is already being used in some states and the company says that it’s already helped in retaining customers.
VZ stock is down about 0.05% Monday afternoon.
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