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ATLANTA—Cardlytics, the pioneer of transaction marketing within banking, announced today that it has partnered with AccountNow, one of the nation’s largest prepaid debit card providers, to provide highly targeted rewards to customers based on prepaid debit transactions. Cardlytics already has a significant base of partners with millions of households able to take advantage of the Cardlytics service; this partnership represents a substantial addition to the general purpose reloadable prepaid portfolio.
A market innovator since 2004, AccountNow is the trusted brand in providing alternative online banking solutions to the more than 40 million people living in the country who lack credit or traditional banking relationships. Through this partnership, merchants will be able to market directly to AccountNow prepaid cardholders, providing them with highly relevant offers based on their own preferred spending habits.
“AccountNow Purchase Rewards is both highly relevant and valuable for our customers who rarely are offered this type of rewards program,” said Greg Pacheco, senior vice president of AccountNow.
Cardlytics’ transaction marketing platform is unique in that offers are based on actual transaction data stored in account holders’ online banking statements, which ensures that incentives are truly relevant to each recipient. Offers are presented directly beneath line item transaction records reviewed by AccountNow customers each time they visit their own online prepaid statement.
By “clicking” on the offers, account holders choose to activate or “accept” rewards before redeeming them at a number of national, local and online retailers. Because coupons or promotion codes are not required, offers are automatically redeemed when customers use their qualifying cards to make purchases according to the offers’ conditions.
“Consumers have a number of options available to them today to support their banking needs and prepaid represents one of the largest growing delivery channels,” said Lynne Laube, president of Cardlytics. “As an established, proven leader in the prepaid industry, AccountNow represents exactly the type of company that we like to partner with in offering valuable loyalty rewards programs and benefits that help consumers better manage their personal finances and spending decisions.”
AccountNow (www.accountnow.com or goldvisa.accountnow.com), headquartered in San Ramon, Calif., is a leading provider of financial solutions for the 40 million U.S. consumers who do not have established credit or traditional banking relationships. AccountNow provides consumers an alternative to “traditional” checking accounts and access to financial and payments systems, including Visa prepaid cards, online bill pay, and FDIC-insured deposits.
Through a highly relevant, “market-of-one” approach, Cardlytics unites banks and merchants to provide rich rewards to customers based on their individual purchase behavior. Its technology tracks consumers’ actual purchases, providing the first digital channel that can guarantee offline sales and help consumers realize savings of hundreds of dollars per year on the products they purchase every day. The rewards improve consumers’ banking behavior by increasing usage, reducing attrition and strengthening engagement with online banking. Cardlytics’ multi-channel approach includes online banking, SMS, e-mail, mobile, online-mall and social networks. For more information about Cardlytics, visit www.cardlytics.com.
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