subject: Co-branded Cards As Smart Financial Tools: [print this page] Co-branded cards offer multiple benefits to companies and their customers. These are issued by companies in collaboration with reputed debit card service providers such as MasterCard and VISA. These cards prove to be effective marketing tools for businesses.
Companies can use co-branded debit card programs to print the name and logo of the company on these cards. When the name of a company appears besides reputed brands such as MasterCard and Visa, the brand image of the company is automatically enhanced.
When the customers use these prepaid cards, the brand recall value of the company increases. In addition, when the cards are used in foreign countries, it helps the businesses to enter more markets and reach more prospective customers.
Businesses can introduce promotional schemes and offer discounts through these co-branded card programs. These offers lure the customer to use card more, which often will increase the customer loyalty significantly towards your company
Customers benefit from card programs because they can get attractive bonuses and discounts on their purchases. This invariably leads to higher demand for a company's products, which leads to more profits.
One of the advantages offered by these cards is that customers can use these cards in any part of the world, as these cards carry the logos of MasterCard and VISA, which are accepted worldwide. Besides, these cards have a lower issuing cost than traditional debit cards.
Co-branded debit cards provide flexible payment solutions to customers and allow them to continue purchasing even if they are short of cash. Thus, prepaid card programs are advantageous for both, companies and their customers.
Insurance firms, Forex companies and financial institutions in America, Europe and the Middle East have greatly benefited from generic debit card programs. The companies can use co-branded cards to expand their customer base and enhance their profit margin.
