Point Loyalty Program
Point system is the one when customer gets some points for money they spent. For example, each dollar spent makes customer earn one point, or in the case of air lines each mile travelled gets one point or each night spent at hotel gets some point etc.
Along with regular points, business can also release reward offers like receive double points for flying direct on August or collect double points for buying some promotional products.
Customer collects points for certain period and business will release redeem offers on regular bases where customers can spend their points to get some product or service at a discounted rate or for free.
Point system are generally run by big corporates where they have many products for sale like groceries store or big price item for sale like air ticket. Then they analyse point collected over a period of time and come up with a reward or redeem offer to best suit their business needs for current time. Like if some clothing brands are going out of fashion so they can give double point offer or give discount price offer if customer has some point already collected. Similarly, airlines or hotels can give discounted price for some customers to increase their bookings.