Charlotte-based Reward Summit, a startup focused on mobile ecommerce and reward optimization, has landed former Bank of America and Intuit mobile executive Scott Lien as an investor.
Lien also will serve on the firm’s board.
How much Lien invested in Reward Summit was not disclosed.
“We are very pleased to add Scott to our team,” said company co-founder Chris Hart. “He brings a wealth of product development expertise and a broad industry perspective as we look to build on our significant momentum. I look forward to working with Scott and continuing to build a world class team with expertise in the areas of mobile, social, location services, personal financial management, and most importantly intelligent digital wallets.”
Reward Summit focuses on payment reward optimization. The company believes Lien’s experience in retail, banking, and mobile financial products will provide a boost to the firm. Lien has worked at Target Stores, Best Buy, Bank of America, and Intuit.
“I believe that mobile devices are going to transform the way people shop and pay,” Lien said in a statement. “The team at Reward Summit has created an innovative platform for a truly intelligent mobile wallet that will not only help customers, but also bring significant benefits to merchants, card issuers and mobile wallet providers.”
Reward Summit is available as an app for iPhones and iPads.
A version for Android is to be released in March.
The app enables credit card users to redeem more rewards “real-time, on the spot,” the company says.
“Reward Summit helps your credit cards work for you,” co-founder John Espey explained. “Our Reward Summit pilot test on average boosted card-holder rewards by $300 to $600 per year. As reward programs evolve, offer special campaigns or one-time offers, card holders using Reward Summit have an easy way to put more in their pockets.”
