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Cash Back for Card Issuers
As an issuer, you face an extremely competitive market for consumer payments where customers have multiple options to pay for their purchases, such as internet accounts, pre-paid cards, credit cards, debit cards. At the same time you face demanding merchants that influence these payments. The CRM.COM Cash Back Loyalty solution for card issuers allows you to work with your merchants to achieve a long lasting increase in transaction volumes.
Cash back solution
In a nut shell, this is a loyalty offering where cardholders are rewarded for using their cards with a cash return award, called a cash back.
Cash back points are accumulated in a special cash back account and are available to be redeemed and spent either in real time or at a later stage as defined by the card issuer. This optional delayed redemption allows the
card issuer to take advantage of amounts that are never redeemed, which in some cases can be substantial. The cash back is offered when purchases are made at participating merchants and are mostly funded by merchants. Cash backs typically range from 2% to 20%. Merchants have an incentive to join because they benefit from the advertising campaign and other direct marketing promotions carried out by the card issuer.
CRM.COM Software
CRM.COM Software provides functionality to manage the entire cash back business, from the card holder accounts to the merchants and the agreed contributions, the loyalty rules, the awards, the redemptions and the cash back accounting processes. In addition a series of web services are provided to integrate to the card issuer’s web site, allowing cardholders to monitor their cash back activity and balance.
Flexible and powerful
CRM.COM Software provides enormous flexibility to the card issuer to easily and quickly evolve the cash back scheme to take advantage of constantly changing market conditions. For example an add-on scheme for toys and games retailers can be introduced over Christmas. Or provide an increased contribution towards the cash back of a major retailer. This flexibility allows the card issuer to use the CRM.COM Software as their main business platform for incentivizing merchants and cardholders to win a higher share of the cardholder wallet.
CRM.COM Software is designed and built to offer scalability, performance and reliability and already runs the operations of many leading companies. It is built on the Java platform, supports multiple operating systems and databases and can easily integrate to other software systems. CRM.COM is an Advanced level business partner of IBM.
Key Benefits
The card issuer benefits from an increased transaction volume and a lasting cardholder loyalty. The merchant benefits from increased sales to the card issuer’s member base plus the ability to direct sales to slow moving goods or services by offering a higher cash back level. The cardholder benefits from the cash back discounts.
| Module / Feature | Description |
Core Features
| Cardholder Management | Create contacts, customers & partners, define their relationship and preferences and track all their communications. |
| Cardholder Financials & Accounts | Record customers financial card transactions against multiple accounts with multiple cards. |
| Customer Intelligence | 360° information on all your customers spending habits at the touch of a button. |
| Product Management | Manage promotional gift catalogues and inventory. |
| Reporting | A catalogue of configurable reports, covering all modules of the CRM software, provide you with powerful real time metrics on company performance. The embedded Jasper Reports engine allows your team to easily create additional and modify existing reports. Configured reports can then be scheduled for automatic delivery by email. |
| Access & Security | Model your organizational structure and define user security rights. A unique assignment mechanism lets you decide who can access and edit different types of information. For example: a minimal account profile for participating merchants, allows them to log in directly to the CRM and monitor their transaction activity, view performance reports and control their merchant participation parameters. |
Campaign Management Features
| Segmentation / Contact Lists | Define contact segments based on multiple configurable criteria. Then either lock the segment as a static contact list or enable dynamic segmentation where the contact list is updated as and when it is used. This can be used to identify customers with particular purchasing habits and inform them about a promotion of specific interest to them. |
| Campaigns | Design, run and control multi-channel (phone, email, letters) campaigns, either batch or interactive, inbound or outbound. Full support for complex call center campaigns including full PBX integration. |
Cashback & Loyalty Management Features
| Schemes |
|
| Offers | Design offers for groups of merchants or entire schemes and easily specify complex validation criteria in minutes. By dynamically identify customer segments using the powerful querying tool, offers can be targeted at dynamic groups of customers based on their spending habits, preferences or demographics. |
| Awards | Create cash back, discount and gift awards and assign to one or many rules. |
| Rules | A modular approach to award rules and offer definitions, allows you quickly to define award rules and apply them to multiple offers. Full control over the rule validation allows awards to be applied between specific date and time criteria, transaction totals or on specific purchase combinations. |
After Sales Service Features
| Service Requests | Record, track and resolve requests for service (service tickets). |
| Service Level Agreements (SLAs) | Define, track and monitor SLAs. Enforce SLA characteristics (i.e. time to respond) to service request. |
| Service Analysis | Analyze and compare service performance |
| Business Network Management | Wide support for any business network, from your own subsidiaries data, to your dealers and external associate’s data. |
Connection / Integration Features
| Integration Adapters | Ready made integration adapters with many systems, including SAP R/3 and MS-Office |
| Interface Builder | Easily create your own interfaces and integration adapters by connecting with CRM.COM’s published web service API’s |