As rapid advancements are being made within the finance and business industry; plastic money has replaced paper money; and today, we see a large number of people using a variety of debit, credit and prepaid credit cards. The world’s population in general has stopped carrying cash due to the convenience and safety provided by plastic money.
Before adopting a co-branded card program, companies need to acquire the background knowledge of such programs and learn the key features associated with it.
What is a Co-Branded Card Program? Any credit card program initiated by the joint venture of more than one company or brand is considered to be a co-branded credit card program. The brands or companies involved within such ventures usually include a business enterprise that has collaborated with MasterCard or Visa to make its card acceptable worldwide.
The program works well for all types of cards, including prepaid credit cards. This is what makes it the best option for promoting your business, as the card contains your company’s logo as well as the card provider’s logo, bringing better promoting and growth for both companies. Sometimes, even banks add their own logos to the card to gain more clientele for their enterprise as well.
The credit card program is used to provide the customers and employees of the primary business with easy means to use their money while promoting the business by keeping it in the customer’s eye with the help of a convenient payment solution. This increases the bond of loyalty that you share with your clients and will bring them back to your business frequently.
Although companies, banks, and card providers find this as an efficient way to gain exposure amongst people, they are not the ones who benefit the most from it. The cardholders using the card on a daily basis are able to make transactions in a secure and convenient manner, thus increasing customer loyalty.
Little To No Service Charge – A credit card program can provide people with the convenience and safety of making large transactions at minimum service costs.
Service Charges are considerably less when people make transactions.
Functions Internationally – if you opt for a co-branded card program, you will be able to provide your customers with the ease of using their money wherever MasterCard or Visa is acceptable.
Easy And Free Replacement – Some card providers also provide quick and free replacement of the card if it is lost or stolen.
Reward Programs – Most card programs will also offer incentives and rewards to cardholders, which is an additional benefit for them.
Card providers often hold special deals that they offer to cardholders upon applying for the card or during certain months.
Thus, co-branded card programs can be quite advantageous for businesses all over the world. However, out of all the choices available, prepaid credit cards can be the best option for most businesses that want to facilitate their customers along with marketing their brand.
co-branded card program is the most effective and successful when merged with prepaid credit options. So get a prepaid credit card for your company today and market your brand in the best way!