loyalty program; rewards program
A system where customers earn points for purchases, which can later be redeemed for discounts, goods, or services. Common in retail, airlines, and credit cards.
wasei-eigo (Japanese-coined English), from point service
This store's loyalty program gives you one point for every 100 yen spent.
I used the rewards program and got a discount on my next purchase.
Variant with interpunct; less common in running text.
Wasei-eigo (Japanese-made English) from 'point' and 'service'. The term is not used in English with this meaning; the English equivalent is 'loyalty program' or 'rewards program'.