Posted by Sheila Shayon on September 20, 2013 07:03 PM
MasterCard is continuing its transformation from a B2B company to a digital firm as it focuses on social interactions to better understand customers and clients, moving from consumer-facing conversation to outright engagement.
After the successful launch of their Conversation Suite in May, “a real-time focus group” that tracks all mentions of MasterCard and the competition with results displayed on a giant 40 ft. LED screen, the financial services brand is launching The Engagement Bureau, the next iteration of the brand’s news sharing platform.
Along with a redesigned Cashless Pioneers Blog, the revamped newsroom will focus on creating a conversation place and publishing hub for the brand. The newsroom now features real-time tweets that populate at the bottom of the page where all news released by the company will be housed.Continue reading...
Posted by Sheila Shayon on July 24, 2013 06:45 PM
In a world of rewards programs, Chase is making waves thanks to its multi-faceted Sapphire Preferred Rewards Card, which lets consumers rack up points for hotels and airlines, dining, special experiences and other amenities all on one piece of plastic.
“Chase Sapphire Preferred (CSP) rewards people for what they love,” Jeff Bedard, marketing director of Chase Sapphire Preferred, told brandchannel. “Since it launched in 2009, the card has been built around passion points, what’s important to the affluent consumer—travel and dining and their purchases are rewarded with two-times the points."
The card, which isn't meant for everyday purchases like gas and groceries, caters to a higher-end clientele looking for exceptional service and experiences.Continue reading...
brands under fire
Posted by Mark J. Miller on May 24, 2013 02:42 PM
Millions of credit cards are swiped each day in America, meaning Visa and MasterCard are raking in big bucks from retailers daily under the current fee structure. Following a dispute over the swipe fees, Visa and MasterCard were prepping to pay out a $7.2 billion settlement to retailers, but now, the brands and the National Retail Federation have denied the settlement and instead have decided to sue the credit companies.
Macy's, Target, Office Max, JCPenney, Kohl’s, Saks, and about a dozen other big retailers have banded together and sued Visa and MasterCard, Reuters reports. Walmart and 18 other retailers didn’t get in on the suit, but will “consider pursuing separate legal actions over damages.”Continue reading...
Posted by Mark J. Miller on October 8, 2012 11:16 AM
A whole lot of cash changes hands in the Walmarts of the world every day. About 85 percent of the company’s daily transactions are done in cash.
After all, many of the discount retailer’s customers don’t necessarily have credit or checking accounts. That’s something that has led Wal-Mart's corporate execs to try and figure out ways to help serve that market’s financial needs, even if it means creating a whole new system of payment.
That's why Walmart is teaming up with American Express to roll out a prepaid financial-services product called Bluebird that "will allow for deposits by smartphone and mobile bill paying, with no minimum balance or monthly, annual or overdraft fees." The tagline — "Loaded with features, not fees" — emphasizes the fact that this is a move to help consumers who are struggling to pay their monthly bills, let alone go shopping.Continue reading...
truth in advertising
Posted by Sheila Shayon on July 25, 2012 01:02 PM
Most North Americans will know the Capital One campaign that always ends with the tagline, "what's in your wallet?" Now we know what's not in Capital One's wallet: $210 million, the amount of a government-imposed settlement for pressuring and deceiving card holders into buying products they could not use and did not want.
It’s the first case enacted since the Consumer Financial Protection Bureau (CFPB) was created by the Dodd-Frank bill passed by Congress two years ago to protect taxpayers and strengthen the financial industry against a repeat of the 2008 crisis which cost the United States 10 million jobs and $17 trillion in household wealth.Continue reading...
follow the money
Posted by Shirley Brady on June 15, 2012 05:02 PM
Germany's Sparkasse Chemnitz bank has launched a Karl Marx credit card, following an online contest that pitted the socialist philosopher against nine other options, including "a palace, a castle and a racetrack," NPR reports. Reuters has more.
Posted by Sheila Shayon on May 15, 2012 04:04 PM
In its latest social spending salvo, American Express has launched a mobile offer engine, a “spend graph” for U.S. cardmembers that recommends and ranks local merchant offers real-time based on spending history and location.
“We developed our mobile offer engine with three key points of differentiation in mind: relevance, convenience and value,” stated Josh Silverman, president of the U.S. Consumer Services Group at American Express.
Piloted via the "My Offers" feature on the American Express iPhone app, local offer recommendations will be concentrated in Los Angeles and New York City with an overlay of nationwide merchants such as Baskin-Robbins and Dunkin' Donuts.
“My Offers” leverages the Smart Offer technology that powers the company's card sync programs with Facebook, Twitter and Foursquare connecting merchants and Cardmembers.
"In an increasingly crowded marketplace, where consumers are bombarded with daily deals, we saw an opportunity to help our Cardmembers save time as well as money by curating meaningful offers for them," added Silverman.
Users can download or update the iPhone app to see "Offers Available for You," along with a dashboard that shows offers added to their card, expiration dates, and savings delivered via a statement credit within three to five days. The brand has also enhanced its Go Social entry tool for SMB’s.Continue reading...
Posted by Sheila Shayon on March 2, 2012 03:04 PM
In a bid to pull ahead of Groupon and other daily deals sites, LivingSocial is expanding its brand.
According to a report by Reuters, LivingSocial will launch its first credit card in the next few months, with no annual fee, offered with Chase and Visa to all U.S. subscribers in an effort to draw repeat customers for its merchant partners.
"Small and medium-sized local businesses will never be able to have their own credit card or loyalty program. We will be able to bring them the benefits of that," the company's CFO, John Bax, told Reuters.
Merchants will be offered short-term funding similar to other co-branded credit card and loyalty programs including deferred interest payments and rewards for spending. With ten purchases monthly, cardholders earn ten ‘Deal Bucks’ credits extensible to all LivingSocial daily deals and special offers such as discounted travel packages.
The move is designed to increase its utility to its subscribers — and counter critics who accuse the daily deal industry of advertising big ticket discounts and not cultivating loyalty or enough repeat business.Continue reading...