GENERAL PURPOSE PREPAID CARD VS. LOYALTY REWARD CARD: WHAT’S THE DIFFERENCE?
There is an extensive offering of prepaid cards out on the market today, some of which have been evolving over the years, and some completely new to the scene. It’s important for you to determine which type of prepaid card you are looking for; General Reloadable Prepaid Cards, Rebate Prepaid Cards, Open/Closed Loop Prepaid Cards, Loyalty Reward Prepaid Card, and the list goes on and on! Working with a knowledgeable prepaid card provider can help navigate misinformation and help you determine what prepaid cards will work with your incentive program needs. But, in the interim in this post, we will break down two types of cards from the above list and help you determine what the differences are, and which one you should be leaning towards for your company’s next loyalty incentive program.
General Reloadable Prepaid Cards
General Reloadable Prepaid Cards are probably one of the most common prepaid cards out on the market today. They are easy for the average consumer to use and can be used virtually anywhere. These prepaid cards act as a debit card, but funds are preloaded onto the card prior to use and can be reloaded with currency at any time, making them very appealing to customers.
Some of the top reasons why people opt for a general reloadable prepaid card include:
- Avoiding Banks
- Paying Without Credit
- Tracking Spending
- Safely Shopping Online
- Handle Expenses
Loyalty Reward Prepaid Card
Loyalty Reward Prepaid Cards are a favorite among consumers and the loyalty marketers targeting them with incentive promotions. Much like the General Reloadable Prepaid Card, the Loyalty Reward Prepaid Card can offer all of the reloadable benefits of a General Reloadable Prepaid Card but also includes the ability to brand the cards to your company’s loyalty program. It is widely known that Customer Loyalty Programs result in increased loyalty and customer retention and increase long-term profitability and revenue streams. When using Loyalty Reward Prepaid Cards in your loyalty incentive programs you can promote cross-selling and up-selling for other products and services while developing strong positive product purchasing habits among your customers.
Beyond helping create strong brand awareness among your customers and encouraging them to become a repeat customer, a branded prepaid loyalty card will help you to provide the instant gratification that your customers crave.
The level of customization available with a prepaid loyalty card makes them vastly superior to a general reloadable prepaid card. Working with a reliable prepaid card provider can help you create the right loyalty prepaid rewards card incentive program that can be used with channel partner, sales incentive, and consumer promotions – Resulting in more customers seeking out your company and brand over your competitors, engaging and retaining existing client base, and building upon the overall lifetime value of your customers..
All Digital Rewards is a leading incentive prepaid card and program provider. We can provide custom branded loyalty prepaid rewards cards and loyalty program management technology tailored specifically to your business’s needs. All Digital Rewards’ reward program management software, SaaS with STACK™ can simultaneously support multiple rewards and incentive programs with the simple click of a mouse button. With an extensive offering of prepaid products for incentive and reward programs, All Digital Rewards has the branded rewards that can meet your company’s loyalty rewards goals. Our VISA Prepaid Loyalty Rewards Cards can be fully branded and personalized to fit your company’s stakeholders’ needs. Give our Loyalty Prepaid Card experts a call at 866-415-7703 or click the “Schedule a Demo” button below!