To change your Rewards Point Conversion Rate, follow the steps below:
Select Settings, then Market(s) at the top of the page.
Then, select Rewards from the menu bar.
Scroll to Point Conversion Rates. Here, the current conversion rates for each customer type are displayed. Select Request Point Adjustment to make a change.
Enter your preferred conversion rate and select Submit Request.
You will see a popup window, confirming your changes were submitted. This request is sent to the BayIQ team and will be processed within two business days. We will send email confirmation to the email address of the user who requested the change when completed.
Note: The value of points already earned by your customers will not change. What will change is the number of points earned.
Example: If a customer earned 100 points with a 3% rewards conversion they will have $3 in their account. If you change the conversion percentage from 3% to 1%, the value of the rewards will stay the same ($3), but the number of points earned will now total 300. Any transactions moving forward will be calculated with the new points conversion rate.
If you have any additional questions, reach out to our Support Team by clicking Submit a Request in the top right-hand corner of this page.