Reloadable Branded Debit Cards
Loyal customers mean repeat purchases. Similarly, motivated salespeople mean increased revenue. Providing financial incentives to both groups is a proven technique to modify and improve behavior. But how do you efficiently handle payments to incentivize the desired outcome?
Top-notch reward programs and top-notch rewards go hand-in-hand. The choice is simple; reloadable debit cards offer the most effective and tangible distribution method for disbursing funds. In addition, the affinity gained by offering your company logo alongside your customer or salesperson’s name, is a surefire way to increase loyalty. Even better, the funds are repeatedly loaded onto the same cards, reducing waste and increasing the speed of payment. Plus, the cards are convenient. They’re accepted at millions of locations, wherever Visa or MasterCard are accepted.
From a cost perspective, reloadable debit cards can be more costly than single use cards for short-term programs. This is because the banking fees to launch and administer a reloadable card are typically higher than a single-use prepaid card. On the other hand, this solution can be extremely cost effective long-term, and the convenience and speed often overshadow any small increase in card costs.
| Type | Cost | Brand Affinity | Company Convenience | Customer Convenience |
|---|---|---|---|---|
| Reloadable Debit Cards | Low | High | Med/High | Highest |
| Prepaid Debit Cards | Lowest | Medium | High | High |
| Virtual Debit Cards | Low/Lowest | Low | High | Low/Med |
| Merchandise and Travel | Varies | Med/High | Medium | Varies |
| Checks | Medium | Low | Medium | Low/Med |
