Glossary
What is a loyalty reward?
A reward is what a customer gets when they have collected enough, such as a free coffee after nine stamps. The business decides what it is and how much it costs to earn. A reward is earned through the programme, which is what makes it different from a voucher.
A reward is the payoff a loyalty programme is built around. Everything else in the programme exists to get a customer to it and to bring them back afterwards.
Reward, not voucher
The two are easy to confuse and worth keeping apart. A reward is earned by accumulating stamps or points. A voucher is an entitlement a customer holds, which they may have bought, been given, or received as a gift. They can look similar at the counter and they are governed by different rules.