LOC rewards program upgrade

We have upgraded our line of credit (LOC) rewards program with a new, flexible rules-based engine and a more advanced hierarchical structure that now includes: group interplay, modifier groups, and modifier interplay. This allows users to configure how reward points are automatically accrued on transactions—swipes and payments—and redeemed as statement credits.

What changed?

The earlier version of our LOC rewards program was limited to a single modifier. You can now use as many modifiers as you want, along with:

• Group Interplay - how two or more Modifier Groups interact with each other at the Program level.
• Modifier Group - a container of rules attached to one Program.
• Modifier Interplay - how different Modifiers interact with each other.

With this expanded functionality, your business no longer needs to rely on manual calculations.

How can I use it?

You can use the new rules engine to configure a points-based rewards program that automatically accrues on swipes and payments for line of credit accounts.

Where can I find it?

Reward programs must be configured by LoanPro at this time. To get started, please contact your LoanPro representative.

Once a rewards configuration is active, you can track point balances, review reward history, and redeem points for statement credits directly in the LMS. Within a line of credit account, navigate to Servicing > Rewards, or Summary > Transactions > See More.

How can I test it?

Once your rewards program is set up, follow these steps to test it:

1. Create a transaction—swipe or payment—on an individual LOC account and confirm it posts in the Rewards ledger with the expected points.
2. Check the total point balance for the account via the getBalance endpoint: ‘/LineOfCredits({id})/rewards/getBalance’.
3. Preview a points redemption to see how it will impact the account via the previewRedeem endpoint: ‘/LineOfCredits({id})/rewards/previewRedeem’.
4. Redeem points via the redeem endpoint: ‘/LineOfCredits({id})/rewards/redeem’.
5. Confirm that a credit was created and the points are subtracted from the total balance.

Learn more about card rewards, or review API documentation to find out how you can manage an existing account, get an account’s reward transactions, and more.