What is the difference between exchange, reward, redeem and transfer?

Let’s assume you’re brand A with a loyalty point A.

Exchange

• All transactions that are either an exchange from loyalty point A to loyalty point B or an exchange from loyalty point B to loyalty point A.

Reward

• All transactions of loyalty point A from brand A to a member of the loyalty program A (e.g. Brand A rewards the member for a purchase)

Redeem

• All transactions of loyalty point A from a member of the loyalty program A to brand A (e.g. a member redeems his points for a free product).

Transfer

• Sum of all transaction types listed above (exchange, reward, redeem).