Introduction
If you want to incentivise customers or reward employees, prepaid cards are a great solution. They’re also flexible for your organisation to offer discount programmes to members. But with so many options available, including mobile wallets and wearable technologies, it can be overwhelming to decide on the best solution for your business.
For 15 years, operators have used prepaid cards to incentivise customers and reward staff.
Prepaid cards are a popular way to reward customers and employees. They are an easy way to increase customer loyalty. Prepaid cards can incentivise staff, for example, by giving them bonuses based on their performance or working hours.
The benefits of using prepaid cards include that they don’t require any credit checks, and they’re available in multiple currencies, so you won’t have any issues with international payments if your company operates internationally.
There are many types of incentives that companies use cards for employee motivation programs, employee recognition programs, staff bonus schemes and gift-card promotions – just to name some examples!
Prepaid products offer a highly-customisable prepaid technology platform that enables you to set up and deploy new and innovative marketing campaigns in weeks.
The prepaid products offer you a highly-customisable prepaid technology platform that enables you to set up and deploy new and innovative marketing campaigns in weeks.
Prepaid cards are an effective way to incentivise customers and reward staff. They can be used to engage customers, attract new ones and reward existing ones. Customers should be able to spend their way—the card should be re-loadable and usable anywhere they want it to be.
The result is a fully-branded, end-to-end solution that engages and rewards your customers, employees and members without needing to access your core systems.
With the end-to-end branding and rewards solutions, you can create a fully branded, fully integrated and fully engaged employee rewards programme without needing to access your core systems. Prepaid cards combine technology expertise with best practices in incentive marketing to provide an easy-to-use solution that incentivises customers and staff alike. By using this technology platform, you can easily create and manage customised employee reward programmes across multiple channels, including e-commerce sites or mobile apps.
The end-to-end expertise allows you to work from brand design to implementing the technology platform that powers the programme — so no matter how large or small your company is, there is a solution for you!
Both types of cards can use any merchant category code (MCC).
If a card is used as an open-loop card, it can be used anywhere.
Examples of open-loop cards include American Express, Diners Club and Discover. These are usually given to customers of large chains or businesses that want to offer their own branded loyalty scheme. Examples include the Tesco Club cards and Starbucks Rewards Card.
Because these cards are branded with the name of the retailer or brand owner, they’re also known as ‘closed loop’ cards – because they can only be used on one network (the MCC).
Conclusion
Using cutting-edge technology, prepaid cards are increasingly expanding in the market. They are flexible, offer a lot of benefits and are easy to use. Thus no matter how small or big your organization is, you can use it for your business.
