Sunday, April 22, 2018

The Main Features Of Co-Branded Card Programs

By Vickie Jefferson


Innovations in the business and finance industry are occurring rapidly, with paper money giving way to plastic money. More and more people today depend on a credit, debit, or prepaid credit cards to get them through the day, as they rarely carry cash anymore. This is why a properly conceived and implemented co-branded credit card program can be quite beneficial for all parties involved.

However, in order to opt for a co-branded card program, you must be aware of its basics as well as its key features. So keep reading to find out all you need to know about these programs:

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.

Sometimes, a third party, such as the bank where the account is held, is also one of the brands that are part of the program. Each brand has its logo on the top of the card and the program can be initiated for debit and credit cards, as well as prepaid credit cards.

However, the party that benefits the most from a co-branded credit card program is of the customers or cardholders. These individuals are provided with a means of spending money conveniently with the association that your business has created with other relevant firms. This is why these programs created a strong bond of loyalty between you and your customers.

The cardholders using the card on a daily basis are able to make transactions in a secure and convenient manner, thus increasing customer loyalty.

Minimum Services Charges - This is the form of money transaction that allows people to spend their money conveniently with a very small service charge.

No Maintenance Or Transaction Fees - Using a card program has no additional maintenance fees or transaction fees on the use of the card.

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.

Simple Replacement Procedures - In case the card is lost or stolen, most credit card programs will provide an easy and free service of the replacement of the card.

Out of all the various card programs available, it is best to opt for a prepaid credit card programs that allow cardholders to use their own money with ease without going in debt after excessive purchases.

Co-branded card programs are beneficial for both companies and customers especially when combined with prepaid cards. In order to grow as successful as a company, businesses should invest in a prepaid credit card.




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