- Two buttons on the card enable a cardholder to pay with credit or to redeem loyalty points at a co-brand merchant location — without any change to the merchant infrastructure.
- The press of the credit button writes the magnetic stripe, EMV, and contactless interfaces as an open-loop credit card while the loyalty button changes the function to a pre-paid closed-loop card. The LED associated with the pressed button illuminates to indicate the selection.
- The credit transaction generates points that are reflected in the loyalty account in real-time.
real-time co-brand card stands out in a competitive space
Increase spending with unique features enabled by technology, not with discounts that cut profits.
- Gamification of rewards keeps consumers engaged.
- By instantly loading rewards points onto the card, the cardholder is encouraged to redeem them instantly and incremental spending is increased.
- Card uses technological innovation rather than price wars as unique competitive advantage to increase spend.
Maintain profits while rewarding consumers.
- Rewards are funded by the interchange fees on the credit rails. Merchants do not pay for rewards. The open-loop, high-interchange credit rails finance loyalty rewards to create a large universe of virtual currency.
Loyalty program for high-frequency, low-spend items.
- Instant rewards enable merchants with lower-cost inventory to reward consumers by loading rewards points onto their cards as pre-paid closed-loop spend. Points do not need to be issued as gift certificates for lump sums.
- Save on frequent rewards communications. Earning notifications are automated as is the transfer of points to the card. Eliminate the need to mail coupons and create new marketing emails.
- This loyalty card operates on both closed- and open-loop networks, increasing spend as the consumer is able to earn rewards for your brand anywhere.
- Turns loyalty points into a currency that can be used immediately.
- Makes rewards points more relevant — allows cardholders to make purchases with rewards from brands they value.
- Augments consumer engagement with merchant brand, increasing spend and frequency of visits.
- Serves as a constant advertisement of the brand in the wallet and at the point of sale.
- Attracts new customers.
- Rewards customers for spending anywhere with merchant’s own currency/points, with subsidies for those points from the issuing bank.
- Expands customer data to enable greater relevance of rewards and communications to customers.
FINANCIAL BENEFIT OF THE REAL-TIME CO-BRAND CARD