Friday, September 12, 2014

All You Need To Know About Co-Branded Card Programs.

By Adam Malkovich


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.

Thus, considering the number of users of plastic money in the world today, we can say that any venture initiated for a co-branded card program will be a profitable one. If you are interested in opting for a credit card program for your business, here is what you need to know:

Understanding Co-Branded Card Programs. When a business implements co-branded credit card programs, a relationship forms between four important entities: the company, the bank, the customer, and card providers such as MasterCard and Visa.

Companies can use this program for a variety of different cards including prepaid credit cards. The benefit of giving this card to your employees and customers is that your company's logo along with the card provider's logo receives a permanent place on it.

This gives way to free publicity and exposure for your business, in return benefitting your company's growth. In addition, banks may want their logo present on the card as well, as they also aim to gain more clients.

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.

No Extra Fees - In most cases, a credit card program does not charge any transaction fees or continuous maintenance charges.

No hidden or additional charges such as maintenance fee or transactions fee when using the card.

Numerous countries recognize certain card providers, thus making the co-branded card programs a convenient means of making a purchase across the world.

In the instance the card gets lost or stolen, card providers provide immediate replacement free of charge.

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.




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