This service provides you with the ability to give your customers cash back rewards for their purchases. You can also accept mobile payments via plastic to mobile card conversion. Additionally, they have automated and manual reloading of card balances based on your preferences. There is a Card Studio website where your customers can purchase personalized gift cards online. And there is a card registration process that protects cards against loss or theft. They also have a merchant-branded customer website with unique card management features.
The credit card is an adaptable repayment tool accepted at over 30 million locations worldwide as it has turned into a good choice for cash. On many events, situations come up where you will need more cash than what exactly are immediately available. Emergencies such as a home or car vehicle repairs, medical expenditures, travel for a family group crisis, are achievable instantly with a greeting card. Such credit spending should be achieved with a short-term
From an operational viewpoint, banks are trying to incorporate technology in their product offerings, such as advanced banking and financial-related mobile applications. Innovations are made with the assistance of learnings from customer information and data analysis, which are an essential part of analytical CRM. The strategic view also suggests that banks are building a social presence on online platforms to enhance customer engagement and build a long-term relationships with their customers. The above approaches can clearly be identified when looking at CBA and NAB customer relationship management strategies. With its high-tech ATMS and state-of-the-art Commonwealth mobile app, CBA has full product leadership in the market, enabling them to have a competitive advantage when attracting new prospects or customer retention. On the other hand, NAB use customer intimacy as their core CRM strategy, cutting their product offerings in half and make consumers more centrally focused. They are very responsive in customers' needs and wants; and is the leading brand when it comes to customer
Dexit’s objective was to launch a wireless payment system as the standard payment method for small dollar amount retail transactions in the Canadian Market.
All around us, records are being taken and our lives are being invaded. Video cameras record our lives in shopping malls, workplaces, schools, and countless other locations. Our telephone and internet conversations can be decrypted and intercepted by outsiders. Targeted marketing tracks our purchases, viewing habits, musical interests, and hobbies in order to send us the junk mail that is most likely to encourage us to part with our money. The introduction of direct payment as we now know it is just another step towards a Canada where everything we do is in the public domain. The technology of Interac and other similar electronic debit systems in other countries allows the consumer to transfer money directly from his or her banking account to the merchant. The merchant (and the financial institution, and the Interac Members group) then have a record of your card number and purchase amount. When your bank compiles this virtual history of your commercial life, this can become an unwanted and powerful marketing tool. Interac claims that such information is used for broad statistical purposes only, but groups such as Electronic Frontier Canada have a different view. "You could take the top 20 per cent of consumers and sell that list for targeted marketing. And this is your information, but you have not choice about it being collected and sold.", says David Jones, professor at McMaster University and president of Electronic
Overall BMO has a small footprint of loyal military customers in bases throughout Canada. Similar market share results can be found in both Petawawa and Trenton markets. Constant but slow growth has been achieved in recent years. Increased competition continues from a variety of sources including other financial institutions and non-traditional banking service providers such ING, PC, Manulife, and many other companies entering the single product space such as credit card offerings. Competition presents a current and long-term threat. BMO must increase and diversify their revenue base to realize ongoing growth and stability in an ever-changing industry. BMO can set themselves apart from the competition by
In 2011, the director of staffing for coupons.com Ken Perluss, saw the need for a manageable system to find the right employees to keep up with the growing size of coupons.com. Purluss looked to Jobvite Hire and found the perfect match with them. With Jobvite Hire, coupons.com was able to fulfill their plan to double the size in employees in as little as six months (http://www.jobvite.com/portfolio/couponsdotcom/). It was interesting to find that in 2014, Retailer iQ was launched. Retailer iQ personalizes coupons sent to customers found in the companies database, sending customers items that interest and suit their needs (coupons.com ,2015). With the introduction of Retailer iQ, digital coupon transactions increased nearly 70% going from the second half of 2014 into the first half of 2015 (“coupons.com Incorporated”, 2015). Additionally, it was impressive to see that when coupons.com first filed for an IPO they opened the stock price at $16 and were able to trade for $31.22 (McGarth, 2014).
CIBC has focused its core business on retail and business banking, wealth management, and whole sale banking. They have shown a proven track record of providing there customers with financial services and advice through a group upwards of 1100 branches worldwide. Strategies CIBC has portrayed is to continually find new ways to enhance the experience of the client and to stimulate safe revenue growth. CIBC has put emphases on creating deep meaningful relationships with all clients, constantly trying new ways to improve service and sales prospects and to create relationships with new clients while retaining existing clients for a long period of time (CIBC).
Paper or plastic? Debit or Credit? Marianne or Ginger? These are the decisions that keep most people awake at night. Okay, admittedly, probably not that many people are losing sleep over making these particular choices.
It is the responsibility of management to identify performance problems, however it is uncommon for mangers to effectively determine why the problem exists. The ACHIEVE Model helps mangers identify why problems have occurred and then develops a strategy to solve the problem. There are seven factors related to effective problem solving in management, they are ability, clarity, help, incentive, evaluation, validity, and environment. I will identify each of these seven factors in a performance problem I have witnessed and have direct knowledge about.
Visa Inc. (VN) operates the world’s largest retail electronic payments network and manages the world’s most recognized global financial services brand. Visa has more branded credit and debit cards in circulation, more transactions and greater total volume than any of their competitors. They facilitate global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities. They provide financial institutions, their primary customers, with product platforms encompassing consumer credit, debit, prepaid and commercial payments. Visa Net, their secure, centralized, global processing platform, enables them to provide financial institutions and
SBC Discounts provides a clear-cut solution to a perennial student problem, finance. We provide a discount card, app and online platform to students that provides 20% off a vast array of local businesses surrounding Universities. We have designed these discounts based on specific research that ensures that only relevant deals for students will be displayed and used on a day-to-day basis. We provide further services including student recruitment, local business promotions and student holidays.
An online payment processing solution greatly improves the ease of payment via credit cards. Customers will no longer have to make the long drive to brick-and-mortar stores to make their purchases. Instead being able to perform transactions by using any computer connected to the internet from the comfort of their homes.
The online payment marketplace is experiencing an explosion of innovative ideas, plans, and announcements, which one commentator has likened to a “goat rodeo”, a chaotic situation in which powerful players with different agendas compete with one another for public acceptance, and above all, huge potential revenues. Others liken the payment marketplace to a battle among the four platform titans Apple, Google, Facebook, and Amazon. Each of these titans have their own versions of a future payment system that challenges the other players. And let’s not forget PayPal, the reigning power in alternative online payment, or the credit card companies who process over 70% of online payments, or the
When online commerce first emerged, many consumers were wary of supplying their credit cards and giving their personal information to online stores. This led to the development of websites such as Paypal, which restricts the access a retailer has to one’s credit card number (Einstein). The threat of fraud has always been a worry for online consumers, but consumers face the same threats when shopping in a brick and mortar store (Chadwick).