Most people know that prepaid cards are incredibly popular for various types of reward programs and more. However, you may not be aware of all the different prepaid card types and uses. Most cards either fall into Open Loop Cards or Closed Loop Cards. Open Loop Cards can be used nearly anywhere. Closed Loop Cards have restrictions on their uses. Here are some of the most popular prepaid cards. General Purpose Reloadable, or GPR, prepaid cards are the most flexible prepaid card types. It is common to be able to load funds from multiple sources. The cardholder owns the funds and can use them with very few restrictions on how the money can be spent. These cards can also be either digital or physical. General purpose reloadable cards are ideal gifts because they offer recipients the freedom to purchase what they want and reload the card, if necessary. Prepaid gift cards are the prepaid card types that you see on the hooks at various convenience stores. These cards are not reloadable and typically do not have access to cash. They may also have inactivity fees, which help close out the cards as the funds do not expire. These cards rarely […]
Tag: prepaid debit cards
Engage Customers with a Points Based Loyalty Program
Have you defined your customer acquisition and retention strategies? Is the process simple and easy to understand or is there unintentional friction and/or a disconnected experience? Do you use brand management technology? These questions are important in today’s evolving digital world as companies are moving to provide customers a seamless brand engagement experience to interacting with their brands when and how they want to. Whether or not you have a solid strategy, All Digital Regards can help increase the lifetime value of your audience by applying a points-based loyalty solution to your loyalty marketing initiatives – turning lemons into lemonade. But how do you make sure your customers are engaged with your brand and not another? One sure way is to continually update and let your loyalty program shine. This can be done by simply updating your reward mix by adding a new virtual prepaid debit via text or email and/or adding a multi-channel communication and reward management process to your program through a points-based reward management system. Points-based loyalty programs are widely available with companies across the country. In fact, three-quarters of US households have at least one membership, and the average household has up to eighteen programs they […]
The Ultimate Secret Of Top Prepaid Card Promotions
A promotion is defined as an activity that supports or provides active encouragement for any type of idea, product, or business in general. Roughly 83% of consumers enjoy receiving a promotional product with an advertising message. There are hundreds of different types of promotions. These promotions range from consumer rebate incentives to corporate recognition incentives, all the way to consumer reward promotions. Promotions thrive in engaging customers, providing higher exposure, and helping your customers feel a sense of belonging to your business. 89% of consumers can recall the name of the advertiser on a promotional product they received in the past year. Pre-paid cards are the top promotion of 2016. Read on for tips to implement prepaid cards into your promotional content. Prepaid cards are the most popular promotional item in 2015 and are only predicted to grow into a bigger business in 2016. However, there are different types of prepaid card products. There are physical plastic prepaid cards which are nearly like a credit card but allow users to put their own money onto the card, helping with money management. Virtual card codes allow users to use the card in a closed-loop format, a type of promotion used within a company […]
Remarkable Advice: The Lazy Guide To an API-Plug In Promotion
Pre-paid card promotions are the top alternative payment option of 2016. A quarter of Americans and a third of millennials have used a prepaid card, according to an April 2015 survey by TD Bank. An application programming interface(API) are routines, protocols, and tools for building software applications. An API expresses a software component in terms of its operations, inputs, outputs, and underlying types. So, how do we link these two concepts to develop customer engagement and get you more leads? Read on for the answers and share this article with your colleagues. First, let’s talk a bit about prepaid debit cards, how to intertwine those with incentive promotions, and lastly, how to link rebate processing into the mix. Prepaid debit cards are a new way to manage money. Users are able to load their cards with money they already have instead of putting it on personal credit, which only fosters debt. Now, prepaid cards are simple tools, but they are also great offers for enticing consumers to use your business. Let’s think of JCPenny’s, this company offers an instant discount for using their card and even bigger savings when you sign up for a card in-store. The key to their […]
Quick Way To Solve Problems with Reward and Recognition Programs
Building loyalty with 5% more customers would lead to an increased average profit per customer of between 25% and 100% (The Loyalty Effect). Rewards and recognition are the tools to build that customer (and employee) loyalty. “Fully engaged” customers (those with a strong attachment to the brand or brand ambassadors) deliver a 23% premium over the average customer in market share of wallet, profitability, and revenue (Cap Gemini). Now, all of this is wonderful information. But, where do you bring this into play? How does your brand build customer loyalty with rewards and recognition? Read on for the 6 types of successful rewards and recognition using prepaid debit cards. Firstly, let’s discuss the successful use of prepaid cards in brand holiday buying. Oftentimes, you can’t walk into a store without them stating, “Sign up for our card today and save 40% on your purchase!” Although this tactic is used across the board, it typically works. People are willing to come into the store and purchase more for their money-especially if they can save on their year-end gifts. Next, there are multiple options for establishing rebate programs or even refunds options for coupons or membership qualities from that branded prepaid debit […]
The Truth About Initiating a Consumer Incentive Program
Roughly 12 million Americans used a prepaid debit card at least once a month and collectively loaded $65 billion to them. Prepaid cards can be an awesome tool for many different people. They are safer than cash and remove the threat of overdraft fees and bounced checks. According to a recent market research study, 96 percent of users of respondents said the cards were useful, and 94 percent would recommend a reloadable prepaid card to someone else. Prepaid cards are the top customer incentive of 2015. So what are some key points for developing a successful consumer incentive program? Read on for the top seven qualities in prepaid debit cards. Cash management is… just that! An option for managing your cash flow. This allows customers to put how much money they want to spend on the card before they go purchase. This makes spending easier for families to watch their budget and possibly manage to spend for young children. Other options allow consumers to earn points from specific products they purchase, such as gas, clothing, or possibly even groceries. Event marketing is a huge industry that physically draws people in and gives them an actual experience. By hosting an event […]
