BreakAway Loyaltysm designed a program that met all of the objectives. The unique solution employed a bank branded stored value gift card as the central redemption option which allowed the bank to realize additional interchange revenue to help offset the cost of the program. Additionally by employing a bank branded gift card, other marketing benefits of brand awareness and front of wallet placement was achieved.
Impressive! The portfolio has seen an increase in spend of nearly 11% year over year. The online registered adoption rate is 22% which is above industry norms. The redemption rate is in the 20% range which is below industry norms. The attrition rate has stabilized.
Credit or debit card portfolios where the card base is not participating in a rewards program. The program is easily adaptable to an enterprise solution to allow for cross selling and can be broadened include other point reward streams like equity lines, checking accounts, etc.
For more information on how BreakAway Loyaltysm can deliver an outstanding solution to fit your situation and objectives, please call 1-866-645-1697 or write us today. We pride ourselves on designing custom programs, because
each of our clients is unique and deserves to stand out from the crowd.