Cardlytics, the pioneer of transaction marketing in banking, announced today that it has added its first prepaid debit card portfolio to its substantial base of card customers. A number of banks already leverage Cardlytics’ transaction marketing platform to provide loyalty incentives to online debit and credit card customers, however, FSV Payment Systems, a leading provider of network branded (Visa®, MasterCard®, Discover®) prepaid card products and processing services is the first to present rich, targeted reward offerings to its prepaid users through the Cardlytics platform.
“Adding Cardlytics’ outstanding loyalty and rewards solution gives our prepaid offerings a competitive advantage in all our markets – from retail to payroll,” said Rick Savard, FSV’s chief executive officer. “This merchant-funded program rewards everyday purchases at places the cardholders routinely frequent, so our cardholders love it, and our prepaid partners love to offer it.”
FSV processes hundreds of prepaid programs and millions of cards within a number of vertical markets including: retail, hospitality, healthcare, restaurant, payroll and government and others. Through the partnership, merchants are able to provide promotional offers to valuable consumers through loyalty incentive programs associated with FSV’s branded prepaid cards. Cardholders view offers through online access to their prepaid card activity and redeem those offers through simple use of the card.
Cardlytics’ transaction marketing platform is unique in that offers are based on actual transaction data stored in account holders’ online banking statements, which ensures that incentives are truly relevant to each recipient. Offers are presented directly below line item transaction records reviewed by customers each time they visit their own online banking statement.
By “clicking” on the offers, account holders choose to activate or “accept” rewards before redeeming them at a number of national, local and online retailers. Because coupons or promotion codes are not required, offers are automatically redeemed when customers use their qualifying cards to make purchases according to the offers’ conditions.
“As our business continues to grow and transaction marketing expands among retailers, we have been targeting the right partners to work with,” said Lynne Laube, president of Cardlytics. “FSV is a proven, industry leader and we are happy to provide their customers an unparalleled level of effective loyalty rewards.”
About FSV Payment Systems
FSV Payment Systems is a leader in the delivery of prepaid debit program management and processing services. Founded in 1999, the privately held company successfully delivers prepaid card programs for payroll, rebates, loyalty and promotions and general-purpose reloadable cards for retail, gift and healthcare. FSV is headquartered in Houston, Texas, and operates a state-of-the-art client and cardholder service center in Jacksonville, Fla. For more information, visit http://www.fsvps.com/.
About Cardlytics
Through a highly relevant, “market-of-one” approach, Cardlytics unites banks and merchants to provide rich rewards to customers based on their individual purchase behavior. Its technology tracks consumers’ actual purchases, providing the first digital channel that can guarantee offline sales and help consumers realize savings of hundreds of dollars per year on the products they purchase every day. The rewards improve consumers’ banking behavior by increasing usage, reducing attrition and strengthening engagement with online banking. Cardlytics’ multi-channel approach includes online banking, SMS, e-mail, mobile, online-mall and social networks. For more information about Cardlytics, visit www.cardlytics.com.
(Date Published: Sep 30, 2010, 9:57am)
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