Tiered Discounts require points to redeem and always live in the customer's wallet as a target they can work towards as they accrue more points. You can choose how many points need to be depleted to redeem each Tier and these discounts can be setup so the customer is able to redeem them more than once; as long as they have the points available to do so.
When you first login to your Discounts page located under the Marketing dropdown in the lefthand navigation, your Tiered discounts won't be visible and they won't be active. Flip the Archived toggle to Show and your preset Tiered Discounts will, you guessed it, "show"
The discount is still archived so you'll need to activate it. Click the Restore discount button in the last column on the right and the discount is activated.
Tiered discounts are preset to be used immediately and we recommend using them as is but you can edit them to fit your particular businesse's discount strategy. To change the presets of tiered discounts, open the discount by clicking Edit
See below for notes on discount customization