Park Bank of Madison, Wis., is offering Buzz Points to provide consumers with bonus rewards for shopping at local merchants.
The bank will offer the Austin, Texas-based vendor's rewards technology through its 12 branches in Wisconsin's Dane County. The bank's debit card holders earn more points when shopping local, especially for shopping with local businesses enrolled in the program, than when buying from other companies, Buzz Points said in an Aug. 18 press release.
Enrolled customers can redeem points earned for gift cards, cash cards or to donate to local nonprofits through the Buzz Points website or mobile app.
"Buzz Points will allow us to play an even greater role in strengthening the local economy by rewarding our customers more for local spending while providing our independent business owners with the marketing tools they need to compete with national chains," said Jim Hegenbarth, president and chief executive of Park Bank, in the release.
Banks and local businesses can use the program's data analysis and targeted mobile marketing technology to expand their market reach, attract new business and increase customer retention, Buzz said.