|By Business Wire||
|July 24, 2014 04:34 PM EDT||
Andrew Gates, Director of Strategic Partnerships at RewardsNOW, Inc., is featured in the July 2014 issue of Credit Union Magazine, which is published by CUNA (Credit Union National Association). The article, written by Patrick Totty titled “Rewards Keep CU Cards Top of Wallet”, talks about the importance of including rewards as part of a credit union’s credit card offering.
Gates discusses how credit unions should design their rewards programs to give their members a wide range of redemption options such as travel, merchandise, gift cards, or digital content. Today’s consumers want value as well as variety from their rewards program and they want to earn those rewards in a short period of time.
Gates notes in the article that an important trend happening in the rewards industry today is helping consumers obtain those valuable rewards they are looking for more quickly. This is a blending of the traditional rewards program where members earn points just for using their credit or debit cards with merchant funded offers where they can earn even more points. Consumers can accelerate their points earning by taking advantage of available merchant funded offers—both national as well as local offers. Because the extra points earned are funded by merchants, the credit union is able to offer a more cost effective rewards program.
This new approach to rewards programs—particularly those that include a local merchant funded component--allows credit unions to compete with banks that typically aren’t nimble enough and who don’t have the same local connections that credit unions do.
About RewardsNOW, Inc.
RewardsNOW, Inc. (RNI) is an exceptional, independent provider of turnkey loyalty programs. Since 1997, we have been offering loyalty solutions that include a configurable, web-based loyalty platform; marketing communications; analytics/ROI reporting; rewards catalog/fulfillment; and 24/7/365 customer support. Our programs, which are designed to generate incremental profits from increased member acquisition, increased product usage, and lower customer attrition rates, also include our online, national based merchant funded program as well as our unique, local merchant funded program; a discount coupon program, and a sweepstakes program – all designed to enable our clients to offer their members more value. RewardsNOW is based in Dover, New Hampshire. For more information, visit www.rewardsnow.com.
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