In response to customers’ feedback on what they want in a rewards card, Citi is launching its Citi “ThankYou Cards” credit cards, letting cardholders earn more as a member of the Bank’s “ThankYou Rewards” program. It gives additional point earning opportunities in select categories, no expiration of points at all, no fee for foreign purchase transactions and even complimentary companion travel. No matter which Citi card the cardholder chooses, the cardholder can earn bonus points and there is no limit to the number of points customers can earn. The qualifying cards include the original Citi “ThankYou” Card, Citi “ThankYou Preferred” Card, Citi “ThankYou Premier” Card and Citi “ThankYou Prestige” Card. Additional benefits let users earn 1 “ThankYou” Point for every dollar spent on purchases; earn a bonus for each year of card membership up to a maximum of 3%; earn 100 bonus points for enrolling in Paperless Statement; earn 100 bonus points for registering for Account Online; earn extra bonus points for shopping through the “ThankYou Bonus Center;” and charge no annual fees.
Sheetz convenience stores is now offering its customers a Tempo-powered rewards debit card that links to consumers’ existing checking accounts. The Sheetz “Rewards Debit Cards” are issued by Tempo partner First Bank & Trust of Brookings, SD, part of Fishback Financial Corporation, and can be used everywhere Discover cards are accepted. Shoppers using the Sheetz Rewards Debit Card for purchases at Sheetz locations will earn discounts on gasoline purchases, as well as cash-back for purchases at millions of other retailers nationwide. Sheetz is using Tempo’s Web-based debit card platform to offer its own branded debit cards and provide a web portal for consumers to apply for and activate cards, as well as track purchases and rewards. Every time customers use the Sheetz Rewards Debit Card at a Sheetz location they will earn a discount of 2 cents per gallon off at the pump on their next gasoline purchase. Tempo-enabled debit cards are affinity partner-branded, generate valuable cardholder rewards, and can be used for online and offline purchases and ATM withdrawals.
Direct Checks Unlimited direct-to-consumer check provider is deploying Tempo’s affinity debit card platform to provide a debit rewards card through its brand, a first for the Company. The Special Edition Discover debit cards link to consumers’ existing checking accounts, can be used everywhere Discover cards are accepted, and provide cardholders with cash-back rewards. The cards are issued by Tempo partner First Bank & Trust of Brookings, SD, part of Fishback Financial Corporation. Tempo co-branded debit cards and web-based debit card platform enables merchants and other organizations to offer their own branded debit cards and provides a web portal for consumers to apply for and activate cards, as well as track purchases and rewards.
Fiserv financial services technology solutions has introduced its “Revenue Expansion” program to help banks and credit unions impacted by Regulation E, prohibiting overdraft fees for ATM or one-time debit card transactions. With 20-50% of overdraft fee income from electronic transactions at risk, which generate an estimated $30 billion annually, banks and credit unions need subsequently create a strategy to comply. The Fiserv “Revenue Expansion” program offers New Deposit Products, Consumer Liquidity Products, and Cross-Sell, Loyalty and Retention Products. The new deposit products include alternatives to free checking such as incentive or rewards-based checking: relationship or activity-based pricing; card based initiatives such as consolidating PIN networks; increasing debit card penetration, activation and usage; and new consumer payments alternatives such as expedited electronic bill payment and person-to-person payments. Short-Term Consumer Liquidity Solutions directly address the potential impact from Reg E. For consumers who “opt in,” financial institutions can implement dynamic overdraft threshold strategies determined on an account-by-account basis that provide consumers with overdraft limits that match their capability to repay. Cross-Sell, Loyalty and Retention Products, including card rewards, relationship rewards, incentive-checking products and relationship pricing, can drive consumer behavior and encourage long-term retention and greater product usage.
Credit card rewards programs continue to be integral to the market’s
success, especially for American Express and Discover. Meanwhile, for
Visa- and MasterCard-branded rewards programs are either being refreshed
or are being brought to market for the first time. With this, the
percentage of rewards-based credit cards will grow incrementally from
76% of all general-purpose credit cards in 2009 to 77% in 2010 before
reaching 82% in 2013. This, according to Packaged Facts’ “Rewards Cards
in the U.S. 3rd Edition,” also shows affluent consumers are the most
obvious targets of the post-recession credit card industry while younger
consumers who have jobs are also attractive prospects. American Express
recently introduced its “ZYNC” Card, a pay-in-full charge card that
allows cardholders to select bundles of rewards and benefits called
“Packs” that are tailored to specific lifestyle interests and spending
habits in categories such as music, fashion, food, travel and more. This
provides a needed link to younger debit-driven consumers and position
their charge cards as debit alternatives.
QuikTrip is expanding its “QuikTrip Rewards” Debit Card program on Tempo’s affinity debit card platform and re-issuing the cards with Tempo partner First Bank & Trust of Brookings. The “QuikTrip Rewards” Debit Card provides consumers with a fuel purchase discount of 5 cents per gallon at QuikTrip for the first 90 days after activation and 2 cents per gallon thereafter. As a special introductory offer, those activating their cards before November 30, 2010, will qualify for a fuel purchase discount of 10 cents per gallon during the initial 90 days, and 2 cents per gallon thereafter. Tempo-powered affinity debit cards link to consumers’ existing checking accounts and can be used everywhere Discover cards are accepted. It also provides quarterly cash-back rewards for purchases made at millions of merchant locations outside of QuikTrip.
Doctors Without Borders/MÃ©decins Sans FrontiÃ¨res (MSF) is offering supporters an affinity debit card powered by Tempo. Every time the Doctors Without Borders Debit MasterCard is used to make a purchase, the organization will receive a portion of standard card transaction fees that will help the organization in its efforts to provide urgent medical care to millions of people in nearly 70 countries around the world each year. The cards can be used anywhere Debit MasterCard cards are accepted and also provide cash-back and ATM withdrawal access to the cardholders’ existing checking accounts. Tempo technology makes it easy for organizations to offer affinity debit cards and provides a web portal for consumers to apply for and activate cards, as well as track purchases and rewards.
CO-based University Parent Media has teamed with StorValue, the
industry leader of co-branded and rewards-based prepaid cards, and
issuer MetaBank, to issue the “Campus Dough DebitSmart Visa Prepaid Card”.
The reloadable card is a first in several ways for students and parents:
It offers clarity with transparently disclosed fees that are less than
virtually any other similar card; it provides outstanding, 5 to 60%
discounts at thousands of collegiansâ favorite places and it arms students and their families with online and
mobile money management tools and online banking for better control of
their finances. University Parent Media recently conducted an informal, qualitative
online survey revealing that half of the respondents were not aware that
the 2010 Credit CARD Act increased the difficulty for those under 21 to
get a credit card without a parent or guardian co-signer. More than one
half of the respondents were hopeful that a debit card could help them
to better manage their finances than a credit card.
Branded stored value prepaid debit card provider
StorValue Card Solutions will not charge cardholders that sign up for direct deposit of at least
$300 a month from their paychecks, Social Security or other recurring
payments the $1.99 monthly maintenance
fees to the cards. The companyâs prepaid debit cards are becoming invaluable to
consumers trying to save money on household expenses each month, and
offer an attractive banking alternative to many. With billpay online or
by phone, and convenient ATM usage, StorValueâs prepaid debit cards can
match or beat most banking features while offering a host of other
benefits such as significant discounts on everyday items at tens of
thousands of retailers around the country and online.
CO-based University Parent has teamed with prepaid card provider StorValue and issuer
MetaBank to offer the “Campus Dough DebitSmart” Visa
Prepaid Card. The “Campus Dough” prepaid card will be reloadable and
funds can be allocated from a payroll direct deposit, checking account
or GreenDot and Western Union retail locations nationwide.
The reloadable card enables students to receive discounts
on purchases at thousands of brick-and-mortar and online retailers â
from leading pizza chains and fast-food restaurants to bookstores,
coffee shops and downloadable music sites. In addition, students and any
family members holding the card will be able to receive prescription
discounts at more than 56,000 pharmacies across the country.
The Campus Dough card will be available to all university
students and their families nationwide in April. University
Parent will detail the cards rewards and features in the coming weeks in
print and online University Parent Guides, as well as on Facebook and
Tempo has been selected as a finalist for the 2010 Software & Information Industry Association (SIIA) CODiE Awards in the “Best Open Source Solution” category. Awarded annually by the SIIA, the principal trade association for the software and digital content industries, the CODiEs represent excellence in the software and digital content industries. Tempo’s affinity debit platform was built entirely using open source software and enables consumers to design and apply for affinity debit cards online. It was designed to make it easy for organizations to offer affinity debit cards and provides a web portal for consumers to apply for and activate cards, as well as track purchases and rewards.
Affinity and co-branded card provider Tempo has partnered with CA-based
In Defense of Animals to offer an affinity card that gives back to the IDA.
Every time In Defense of Animals debit cards are used to make a
purchase, IDA will receive a portion of standard card transaction fees.
The cards can be used anywhere Debit MasterCard cards are accepted and
also provide cash-back and ATM withdrawal access to the cardholders’
existing checking accounts. Tempo-enabled debit cards are affinity
valuable cardholder rewards, and can be used for online and offline
purchases and ATM withdrawals. Working with First Bank& Trust, Tempo
manages all aspects of card issuance, including risk management,
application processing, card fulfillment, authorization and settlement.
IDA is an international
non-profit organization with a distinguished record for challenging the
exploitation and abuse of animals by protecting their rights, welfare