Monday 26 October 2009

How Can Co-branded Debit Cards Benefit Your Business:

By Edward Jackson

Co-branded card programs are an efficient marketing tool utilized by a number of companies. The good feature of co-branded cards is they are beneficial for both, companies as well as its customers. With co-branded card programs, companies can retain old customers and lure new ones.

Companies can participate in co-branded card programs by affiliating with a bank and reputed credit card providers such as Visa or MasterCard. Co-branded debit card programs allow companies to represent their brand names and logos on the co-branded cards. When the name and logo of a company is printed with esteemed brands such as Visa and MasterCard, its reputation automatically increases.

Since co-branded debit cards involve the participation of renowned debit card brands such as Visa and MasterCard, they can be very effective in providing global exposure to the companies. This allows the companies to access a wider customer base that in turn strengthens their customer-base significantly.

Through co-branded card programs, companies can offer special discounts and bonuses such as cross-selling and rebates to their customers. This helps in increasing the customer-loyalty towards the company. Besides, co-branded debit cards can increase your brand's recall value.

Customers can use the co-branded cards for both, making payments as well as withdrawing money. With co-branded cards, they can make purchases even in the absence of sufficient amount of cash.

Co-branded debit cards have lesser issuing cost than conventional debit cards. Besides, in comparison to traditional debit cards, these cards are issued in less time. Thus, co-branded debit cards are beneficial for not only the business owners but also their customers.

These card programs can benefit all types of business organizations such as Forex and MLM companies, insurance firms and trade organizations. Branded prepaid card programs and generic debit card programs are being successfully used by many companies in Asia, Europe, America and Middle East.

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