You may think that credit card issuers are only focusing on credit card design features to offer personalized offers to customers. No, it is more than that as the personalization aspect touches on the lifestyle and purchasing habits of the customers. In many ways, the offers you get from credit cards tend to resemble the deals customers get through sites such as the Groupon and Living Social.
One site, the Truaxis offers discount gift card purchases. This site provides the cardholders with discounted gift cards. Another site, the Slickdeals.net, an online forum run by Truaxis, offers an opportunity for Citibank cardholders to get promotions. Truaxis, a company that was acquired by MasterCard in 2012, is an industry leader in the development of reward programs especially in the banking industry.
The integration of Truaxis platform with the leading card issuer MasterCard network meant that consumers would get real time offers that are more meaningful while the merchants would gain efficiencies through increased card usage based on loyalty programs. From the Slickdeals.net online forum site, Citibank cardholders are able to access promotions like Amazon gift cards and $Noble gift cards.
There are many other participating retailers where cardholders can benefit, and they include the Home Depot, Lowe’s, Sears, and the Old Navy stores. Truaxis runs the deals platform known as Statement Rewards. This is a platform, which allows customized offers to cardholders. The design of the loyalty program is to allow the financial institutions to leverage their loyalty, the card spending, and enhanced usage of the card.
This is an aspect, which helps deliver a data-driven personalized service to customers. The customers are able to get customized or personalized offers on their online account statements. The offers match the promotions and discounts where most of these consumers spend their credit card cash more frequently.
Citibank cardholders can benefit from these kinds of offers. Other banks have also started offering personalized deals in their credit card promotions. A bank such as the Bank of America has a reward program personalized to the cardholders where the users are required to load the full value of a deal on their card when an offer is made, and then the discounts is able to show up in form of statement credit.
Another financial institution, Ally, creates interest by surprising its cardholders with numerous deal opportunities. In these personalized deals, three parties are able to leverage their gains from the promotions. It is a win-win-win situation where the consumers are able to save money in deals through individual transaction activity, and the merchants on the other hand, get a cost effective opportunity in building transactional loyalty, while the banks get their share by earning more through the card transactions.