Hydrogen has built an amazing rewards infrastructure that allows you to disburse rewards to cardholders based on the following criteria:
- MCC: Merchant Category Codes (MCC) (e.g. 5% cash back at code 5814 - Fast Food Restaurants)
- MID: Merchant ID (MID) of the merchant to restrict rewards to only your business (e.g. 5% cash back at my business)
- Merchant Name: cleansed merchant names for third-party businesses (e.g. 5% cash back at Starbucks)
- Transaction Category: cleansed categories (e.g. 5% cash back on Travel)
- Spending: reward based on total purchase amount during a period (e.g. 5% cash back over the next 1-week)
- Balance: reward based on average balance of account during period (e.g. 5% cash back when you maintain $1,000 or more in your account)
- Bonus: one-time incentive for cardholders when a certain action occurs (e.g. $100 bonus when you sign up)
You are welcome to offer your own program (or partner with a third-party rewards provider) to give cash back or other rewards. Every quarter, you will receive a percentage of all interchange revenue that Hydrogen gets from the payment processors. You are welcome to use this revenue to fund your rewards program, or use money from other sources.
Please make sure you follow the marketing and compliance guidelines located in your Hydrogen admin portal. If you are unsure of the legal or accounting implications of offering any rewards program, please contact a lawyer or CPA.