A bank, a credit card provider such as VISA or MasterCard and a bank, working in association, implement the co-branded card programs. These programs have become very popular with time and have helped many businesses all over the world. The popularity of co-branded cards, debit cards and prepaid cards as financial tools has increased considerably.
Many businesses in different regions such as Europe, Africa, Asia and America have profited from the co-branded card programs. Co-branded cards are less susceptible to scam or fraud, as they cannot be easily misused in the event of theft or loss. This makes them an ideal financial tool.
Co-branded card programs allow the business entities to have their brand name and logo embossed on the co-branded cards. This in turn will enable them to improve their brand recall value.
Co-branded card programs allow the business entities to associate themselves with prominent credit card providers, such as MasterCard and VISA, which are renowned all over the world. This association allows the businesses to expand their customer base and cater more customers across the world.
Co-branded card programs allow the businesses to provide their customers with a host of attractive discounts and bonuses. This in turn can help them strengthen their relation with the existing customers and attract the new ones.
Co-branded cards prove a convenient financial tool for the card-holders too. They can use these co-branded cards in the same way they use their prepaid cards or debit cards. This is because, just as debit cards or prepaid cards, co-branded cards can allow the customers to make payments while shopping.
In comparison to cash, co-branded cards are comparatively safer and easier to carry. Thus, these cards, just as debit cards or prepaid cards prove helpful to the card-holders.
Both businesses and their customers can profit from the co-branded cards. Co-branded card programs also prove to be a profitable prospect for the credit card providers and the banks associated with them.