Payment Industry Insider

There are more marketing gimmicks in the marketplace today than you could even imagine and the payment card market is probably the worst.

With teaser rates, rewards points, miles, cash back, membership programs, loyalty programs and cool commercials what else is left?

How about asking your cardholders to give the rewards back to you?  More and more, we are working with our clients to create programs that take incentives that would normally go to the member /cardholder and put those to good use. 

Schools and the environment are the two hottest socially responsible giving ideas. Creating an incentive where the cash back goes to a local school, charity, or environmental cause can create remarkable loyalty and drive usage more than a traditional marketing gimmick. 

This not only works for card related products but other credit union products as well.

How would matching the first months interest on a new CD with a donation to the local elementary school impact deposits?

How would your bottom line be impacted if you could stop competing on rates with the large banks and start competing for people’s hearts?