A better way to reward customers

I find the reward programs operated by many businesses, i.e. banks, telcos, to be wasteful:

* they cost a lot of money to operate
* is quite complicated
* incurs a lot of printing and mailing cost
* give little value to their customers

I prefer that these businesses reward their customers in a simpler way:

* accumulate the amount of credits
* give them a cash rebate, based on the credit, at the end of the year

I hope that they can reduce cost, and give better benefit to their customers.