Yes software can send reminder SMS to the customers whose reward points are about to expire. For this you have to follow the below process.
Login to back office > from left menu go to ‘Settings’ > click on ‘Reward Settings’ in the submenu of ‘Settings’ > click on drop down option ‘Rewards Expiration Alert Timings’ > enter number of days or month or week in ‘Remaining Time’ > select appropriate option in the next column > click on ‘Add Time’ button > as a last step click on ‘Save Settings’ button.