A Co-Branded card is a card that bares the brand of a business together with the issuer. Small retail businesses such as supermarkets, shops, gas stations all make use of co-branded cards. These business enterprises all make it more attractive to their target clients because of the huge competition in the retail industry.
Co-Branded cards are very often confused with store cards; store cards are also used by small retail houses but are very restricted to the retail business. Just like normal bank payment cards, Co-Branded card programs work with other retail shops but when used with the business enterprise whose brand it bears, special discounts and gifts are given.
Reasons why You Should Consider Co-Branded Cards for your Retail Business. With Co-Branded credit cards, retail businesses can get another source of revenue from the share of the profit allotted to them by the issuing company. For every use of the credit card, a certain amount of money is shared between the issuer and the retail business as profit.
With these profits, the retail business can be expanded and grown. With debit cards that are normally issued by the issuers, the whole profit is allocated to the issuing company and the lender alone. Co-Branded debit cards and other payment cards like prepaid card program, credit card allow extra revenue for the retail outlets.
One of the best things about the use of co-branded credit cards is helps grow a sense of loyalty, relationship between the business and the clients. Customer and consumers feel like they should still with the brand and they want to continue the relationship. This relationship is also built with the use of reward programs and incentives given to these card holders after every use. Consumers are encouraged to use more and visit the brand in particular to get whatever they might need and services rendered.
With Co-Branded debit cards and prepaid cards, business owners can monitor their growth and the general demography of their customers without having to pay extra to a data company. Retailers can keep track and understand the needs of each clients spending habits, know what brands they prefer, and use it to serve the clients better.
It is worth mentioning that for every customer a business venture has using their co-branded debit card or any of the other Co-Branded payment cards, the ventures will be given a Spiff, which is a special bonus for everything new customer.
The use of co-branded cards allows the business ventures to easily get data on how their customers spend and gives more insight of the wants, demands and need of the customers. Hence, making the owners provide better and more reliable service to them and also it is more cost efficient. For every new client that get a card, the issuing company pays the business venture a certain amount called Spiff. This acts like an encouragement to do more and get more customers. With these source of income, the business will expand.
Co-Branded cards are very often confused with store cards; store cards are also used by small retail houses but are very restricted to the retail business. Just like normal bank payment cards, Co-Branded card programs work with other retail shops but when used with the business enterprise whose brand it bears, special discounts and gifts are given.
Reasons why You Should Consider Co-Branded Cards for your Retail Business. With Co-Branded credit cards, retail businesses can get another source of revenue from the share of the profit allotted to them by the issuing company. For every use of the credit card, a certain amount of money is shared between the issuer and the retail business as profit.
With these profits, the retail business can be expanded and grown. With debit cards that are normally issued by the issuers, the whole profit is allocated to the issuing company and the lender alone. Co-Branded debit cards and other payment cards like prepaid card program, credit card allow extra revenue for the retail outlets.
One of the best things about the use of co-branded credit cards is helps grow a sense of loyalty, relationship between the business and the clients. Customer and consumers feel like they should still with the brand and they want to continue the relationship. This relationship is also built with the use of reward programs and incentives given to these card holders after every use. Consumers are encouraged to use more and visit the brand in particular to get whatever they might need and services rendered.
With Co-Branded debit cards and prepaid cards, business owners can monitor their growth and the general demography of their customers without having to pay extra to a data company. Retailers can keep track and understand the needs of each clients spending habits, know what brands they prefer, and use it to serve the clients better.
It is worth mentioning that for every customer a business venture has using their co-branded debit card or any of the other Co-Branded payment cards, the ventures will be given a Spiff, which is a special bonus for everything new customer.
The use of co-branded cards allows the business ventures to easily get data on how their customers spend and gives more insight of the wants, demands and need of the customers. Hence, making the owners provide better and more reliable service to them and also it is more cost efficient. For every new client that get a card, the issuing company pays the business venture a certain amount called Spiff. This acts like an encouragement to do more and get more customers. With these source of income, the business will expand.
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It is recommended that supermarkets, gas stations to get Co-Branded Credit Cards as it will help their businesses grow and it should be noted that issuing companies like MasterCard and visa have the best prepaid card programs.
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