Real-Time Rewards

Integrating Real-Time Loyalty, Points, Discounts, Bonuses, and Cash-back into RfP

Incorporating features like real-time loyalty, points, discounts, bonuses, and cash-back into Real-Time Request for Payments (RfP) can enhance customer engagement and satisfaction. Here’s how billers can integrate these features into their RfP using SecureQBPlugin.com with QuickBooks Online (QBO):

Step-by-Step Integration Guide

1. Set Up QuickBooks Online (QBO) and SecureQBPlugin.com

   • Ensure your QBO account is set up and configured for advanced invoicing and payment processing.
   • Register and set up SecureQBPlugin.com, linking it with your QBO account for seamless integration.

2. Configure Payment Processing with Loyalty Features

   • Ensure SecureQBPlugin.com supports real-time payment networks like RTP and FedNow.
   • Verify that the platform can handle loyalty programs, including points, discounts, bonuses, and cash-back.

3. Define Loyalty and Discount Programs

   • Establish the parameters for your loyalty and discount programs within QBO and SecureQBPlugin.com.
   • Define how points are earned, how discounts and bonuses are applied, and the conditions for cash-back rewards.

4. Create Digital Invoices with Loyalty Features

   • In QBO, create digital invoices that incorporate the loyalty features.
   • Include details such as the points earned, applicable discounts, bonuses, and potential cash-back for the transaction.

5. Generate and Send Enhanced RfP via SecureQBPlugin.com

   • Use SecureQBPlugin.com to generate an RfP that includes loyalty features.
   • Format the RfP in ISO 20022, ensuring it captures all relevant details (e.g., points, discounts, bonuses, cash-back).
   • Send the RfP to the payer via their bank’s dashboard or a link on the payee’s payment page.

6. Payer Receives and Approves RfP

   • The payer receives the enhanced RfP notification, including loyalty features, on their bank’s dashboard or the payment page.
   • The payer reviews the details and approves the payment, seeing the immediate benefits (points, discounts, bonuses, cash-back).

7. Instant Payment Processing and Rewards Allocation

   • Upon approval, the payment is processed instantly through RTP or FedNow.
   • SecureQBPlugin.com updates the payer’s loyalty balance (points, discounts, bonuses) and processes any immediate cash-back rewards.

8. Payment Confirmation and Reconciliation

   • Both payer and payee receive confirmation of the payment and applied loyalty rewards.
   • QBO updates the invoice status to 'Paid' and reconciles the payment and loyalty rewards in real-time.

9. Automated Recurring Payments with Loyalty Features

   • For recurring payments, set up the schedule in QBO.
   • SecureQBPlugin.com automatically generates and sends enhanced RfPs at regular intervals, including loyalty features.
   • Payments and rewards are processed and reconciled in real-time.

Example Workflow for Enhanced RfP

One-Time Payment with Loyalty Features

1. Invoice Creation:
   • Generate a one-time invoice in QBO, including loyalty features (points, discounts, bonuses, cash-back).
2. Enhanced RfP Generation:
   • Use SecureQBPlugin.com to generate an RfP formatted in ISO 20022, incorporating loyalty features.
3. RfP Sending:
   • Send the enhanced RfP to the payer’s bank dashboard or the payee’s payment page.
4. Payer Approval:
   • The payer reviews and approves the enhanced RfP, seeing the immediate loyalty benefits.
5. Instant Payment and Rewards:
   • Payment is processed instantly, loyalty rewards are allocated, and the invoice status in QuickBooks is updated to 'Paid'.
6. Reconciliation:
   • Payment and loyalty reward details are automatically reconciled in QuickBooks.

Recurring Payment with Loyalty Features

1. Recurring Invoice Setup:
   • Set up a recurring invoice schedule in QBO, including loyalty features.
2. Automatic Enhanced RfP Generation:
   • SecureQBPlugin.com automatically generates enhanced RfPs at each billing cycle.
3. RfP Sending:
   • Enhanced RfPs are sent to the payer’s bank dashboard or payment page at regular intervals.
4. Payer Approval:
   • The payer reviews and approves each enhanced RfP, seeing the loyalty benefits.
5. Instant Payment and Rewards:
   • Payments are processed instantly each time, loyalty rewards are allocated, and invoice statuses are updated in QuickBooks.
6. Reconciliation:
   • Each payment and loyalty reward is reconciled in QuickBooks with detailed remittance information.

Benefits of Enhanced RfP Integration

1. Customer Engagement:
   • Enhances customer engagement by providing immediate rewards such as points, discounts, bonuses, and cash-back.
2. Increased Loyalty:
   • Encourages repeat business and customer loyalty through a rewarding payment experience.
3. Efficiency:
   • Streamlines payment processing and loyalty reward allocation in real-time.
4. Improved Cash Flow:
   • Accelerates cash flow with instant payments while providing added value to customers.
5. Security:
   • Ensures secure transactions with ISO 20022 messaging and real-time payment networks.
6. Automation:
   • Automates invoicing, payment processing, and loyalty reward allocation, reducing manual tasks.

By integrating Real-Time Request for Payments (RfP) with enhanced loyalty features using SecureQBPlugin.com and QuickBooks Online, businesses can create a more engaging and rewarding payment experience for their customers, driving increased loyalty and efficiency.