If your organization's Award Network supports point-to-cash redemption, this guide will help you set it up for a seamless experience.
Note: There are no fees for cash redemptions.
- Making the Cash Redemption Option Available in an Award Network
- Advanced Settings Configuration
- Notifications
Making the Cash Redemption Option Available in an Award Network
To enable the cash redemption option within an Award Network:
Log in to your Awardco account.
On the homepage, select the Admin button at the bottom of the left navigation menu.
Select Marketplace, then Award Networks from the left navigation menu.
Click the Award Options tab at the top of the page.
Click Add Option.
Search for "Cash" and click Setup New.
Click Enable This Option.
Now that "Cash" is an available option, click the Award Networks tab at the top of the page.
Select the specific award network where you want to offer cash redemption.
Scroll down to find the Cash option and toggle it On.
Select the specific countries where cash will be available as a redemption option.
Click Save.
Advanced Settings Configuration
To customize how the cash-out option appears to users
Log in to your Awardco account.
On the homepage, select the Admin button at the bottom of the left navigation menu.
Select Marketplace, then Award Networks from the left navigation menu.
Click the Award Options tab at the top of the page.
Find and select Cash.
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Click Option Settings. Configure the following:
Display Name: The name users will see for this option on the spend points page.
Description: A message that will be displayed to users on the main page of the cash award option.
Catalog Banner Image: Upload a custom image or choose a provided banner (1055x480 px).
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Notification Settings (Cash Only): Configure email notifications for cash-out redemptions.
Click the pencil icon next to Default to designate one email address to receive all cash-out notifications.
Alternatively, select Add Country to specify a different email contact for each country where cash awards are available.
Click Save Changes.
Notifications
Upon completing a cash redemption, the user will receive the following order confirmation via email:
If a notification recipient is specified in the "Cash" award option settings, they will also receive an email informing them of the redemption.
Admins can access reports on Money Spent, Points Redeemed, Point Transactions, Awarded vs. Redeemed, Redemption Summary, and Redemption FIFO to track cash-out redemptions. These reports reflect transactions processed by Awardco and do not track your company's internal payroll actions.
Important Note: Configuring these settings enables users to request a cash-out; it is not an automatic redemption. This feature solely facilitates communication to both the employee who requested the cash and designated internal contacts responsible for fulfilling the payment. Your internal teams are responsible for sending the cashed-out funds to the users.
If you have any questions, please contact Awardco Admin Support.