An app has been created to help customers redeem credit card benefits easier and track their spending.
Sift, which is available on iOS, is an app that helps customers keep abreast of all their credit card benefits and claim refunds easier. Now, CEO Abhinav Dubey has confirmed the company will be adding an additional function to the app, giving users the chance to also obtain advice on the best card to choose based on their lifestyle. The new functionality is due to be launched at the end of the year. The app could see the end of customers spending hours on the phone to customer service centres resolving refund issues, as well as helping them keep track of their spending habits.
Currently, the app keeps track of price changes within users’ credit cards, protecting them from changes and also alerting them of additional benefits they may be missing out on. Sift also claims back money for products like price protection policies, allows users to get refunds for products and also provides warranties for electrical and audio purchases including TVs and laptops for example. The app works by sifting through all the credit cards’ policies and benefits associated with each purchase and automatically files a claim in the user’s name. It also provides additional information such as the amount of time left to return an item.
As customers move towards using their mobile devices more frequently to do every day tasks, including banking and shopping, innovators need to come up with more products that meet their needs. Sift is a key example of a mobile function that will really tap into customers of the future. Similarly to the UK’s invention, DrnkPay, an app which curbs drunken overspending, this is just another function which makes life easier for customers.