The incentive industry has undergone a complete transformation since gift cards,and prepaid cards hit the scene. Case in point – reloadable prepaid cards have become the favorable choice amongst not only incentive providers, but also participants being rewarded. Why? Who doesn’t enjoy utilizing instant currency right at the tips of their fingertips versus waiting on a check in the mail? Or what incentive provider doesn’t like low-cost incentives and higher engagement, which translate to more saving more $$$? Exactly. Incentive purchasers are counting on vendors to establish an Incentive Plan that clearly identifies the best prepaid card and gift card solution for consumer, employee and Channel Sales incentive programs. What should you expect to be on your vendor’s radar in order for them to help you develop that best prepaid incentive plan strategy? Below are six things to expect from your prepaid provider:
Understanding the Prepaid Card Reward Option
Partner with a vendor who knows their stuff. A currency provider should have an extensive reward portfolio, vast knowledge of prepaid reward options available or up and coming options, along with a great strategy that works for what your participants want.
Platform/Program Overseer From All Ends
A prepaid card provider should be able to offer you:
- The Platform and Reward Mock Up
- Where the Rewards Can Be Used
- Overall Process and Deliverability
- Provide real-time access and reporting
- Have a Clear Understanding of Program Goals and Instruction
Flexibility
A great prepaid reward card vendor must be able to manipulate or adjust product efficiency and selection. The prepaid reward products offered should coincide with your business size and scope to really maximize potential!
The Card Funnel
If your program is offering merchant gift cards, your partner (vendor) should offer a broad range of merchants for the gift cards/prepaid cards to provide variety. This card funnel allows the redemption process to filter selected merchants for a more organized, unique and enjoyable experience for you and your participants.
Program Security
Our core layered security capabilities ensure that your data is highly secure and protected as it passes through the STACK™ SaaS platform applications as well as ensuring that all network, employee, physical, and network application security are in place to continually protect your assets in our systems. Processes are decoupled in a microservices environment with enhanced Google Cloud security.
Compliance Management
Making sure the offered rewards are in compliance can take up a lot of time, energy and resources. Leave it to the professionals to get this squared away for you, that way you can channel that time and energy where it’s really needed. Protecting your business and stakeholders is top priority, and a compliance-centric vendor makes a great partner!
All Digital Rewards has an extensive offering of prepaid products for incentive and reward programs that can meet your company’s stakeholders incentive payout goals. Whether you are looking to provide solutions that reward or provide an incentive to your employees, add new customers or increase the loyalty of existing users, our prepaid card solution will provide you with program management, flexibility, security, and compliance to keep your mind at ease. To learn more about how All Digital Rewards can build and manage a successful reward platform call 866-415-7703 or click the “Schedule a Demo” button at the bottom of the page!
