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.
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.
Features of a Co-Branded Credit Card Program A card program that is co-branded by your business can offer many beneficial features for the customers. These include:
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.
Prepaid credit card programs enable cardholders to control their expenses and avoid the pitfalls of going in debt, as they use their own money to buy things.
Co-branded card programs are the most effective and successful when merged with prepaid credit options. So get a prepaid credit card for your business today and promote your brand in the best way!
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.
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.
Features of a Co-Branded Credit Card Program A card program that is co-branded by your business can offer many beneficial features for the customers. These include:
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.
Prepaid credit card programs enable cardholders to control their expenses and avoid the pitfalls of going in debt, as they use their own money to buy things.
Co-branded card programs are the most effective and successful when merged with prepaid credit options. So get a prepaid credit card for your business today and promote your brand in the best way!
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Thus, co-branded card programs may be quite advantageous for businesses all over the world. However, out of all the options available, prepaid credit cards may be the best option for most businesses that plan to facilitate their customers along with marketing their brand.
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