White-Label Ready Affinity Prepaid Debit Banking Platform Puts Brands in the Center of their Customers’ Financial Lives

Synchology,www.synchology.com, a financial technology solutions provider and developer of socially-enabled, partner brandable prepaid cards, has launched The Branded Payments Platform, a “white label-ready” banking platform that puts brands at the very center of their customers’ financial lives.

By focusing on a user-centric experience, providing intelligent money management tools and rewarding prepaid debit card account holders for their loyalty based on individual purchasing behaviors, Synchology’s Branded Payments Platform offers brands a new way  to turn their customers into advocates and increase their lifetime value.

Prepaid Debit Cards: the Next Generation of Brand Engagement

A study by Javelin Strategy & Research¹ found that 13 percent of adults in the U.S. used prepaid financial services in 2011, up from 11 percent in 2010. While prepaid use is increasing, the study also identifies a declining use of checking accounts and traditional credit cards. According to Javelin, 88 percent of consumers maintained checking accounts in 2011, down from 92 percent in 2010, highlighting that today’s consumers are searching for more intelligent banking tools that fit their needs and lifestyles.

Synchology’s Branded Payments Platform was developed to meet changing consumer banking needs by increasing usability, and offering tools and value not available with many current traditional (checking) or alternative (prepaid) accounts, some of which include:

·       Net positive cost of ownership with regular use

·       Improved user-centric reward earning and redeeming opportunities

·       Smart and engaging user interface featuring useful money management tools

·       Wide array of reward earning possibilities

·       Discounted e-gifting platform

“We provide our partner brands with a revenue-positive loyalty offering coupled with valuable and actionable transaction trend data,” says Synchology President and Co-Founder Doug Bobenhouse. “We developed the Branded Payments Platform to enable brands to become top of mind with their customers even when they are not interacting directly. The Branded Payments Platform illuminates audience group spending and behavioral data and trends, while offering consumers relevant, personalized and - most importantly - 3rd party funded - reward value that can be redeemed within a brand’s ecosystem.”

Similar to existing affinity co-brand credit card reward programs, the prepaid debit based platform allows consumers to bank with their favorite brand and earn relevant rewards for everyday financial transactions, without creating debt.

The Branded Payments Platform is available in three offerings:

The Jump Visa® Prepaid Debit Card: Synchology’s in-house brand and technology showcase comes with a full suite of money management and reward earning/redemption opportunities, and can be experienced atwww.myjumpcard.com.

The Co-Brand Jump Visa® Prepaid Debit Card: Brands can now offer their customers all the features and value of The Jump Card and have their co-branded card and consumer experience program available in less than 8 weeks, complete with brand-specific reward integration.

Custom White Label: The Branded Payments Platform is a white-label ready solution and features a robust API set for custom brand integrations. 

Each co-brand or white label program is tailored to fit a brand's target audience and goals and features web based reporting tools with access to a wide range of trend level data.  

The Branded Payment Platform is well suited for:

●        Retailers

●        Consumer Brands

●        Publishers

●        Membership Organizations

●        Affinity Credit Issuers

●        Loyalty Providers

●        Entertainment Brands

For additional information about Synchology or the Jump Prepaid Debit Platform, please contact Vanessa Horwell at 1.305.749.5342 x 232 or vanessa@thinkinkpr.com or Danielle Mason at 416.628.6570 or dmason@thinkinkpr.com.

About Synchology: The Branded Payments Company

Synchology was founded in 2009 by financial, technology and marketing veterans dedicated to building a better banking and loyalty experience. Synchology designs, builds and markets partner brandable affinity prepaid debit card accounts with high-end money management tools and compelling reward earning and redemption capabilities. The Jump Affinity Debit platform is designed from the ground up to provide brands and consumers a great way to interact to mutual benefit. Synchology has offices in Chicago, IL and Sioux Falls, SD. For more information, visit synchology.com.

About The Jump Card

The Jump Visa Prepaid Debit Card is issued by First Bank & Trust, Brookings, SD, Member FDIC, pursuant to a license by Visa.  It is Synchology’s flagship prepaid card.

 

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