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- Product Allows Financial Institutions to Provide Personalized Offers to Their Debit and Credit Cardholders -
CINCINNATI and NASHVILLE, Tenn., Aug. 12—Fifth Third Processing Solutions, a premier full-service payment solutions provider and edo Interactive, Inc., a pioneer in digital and mobile advertising, announced today an agreement that enables the payment processor to offer its financial institution customers access to edo’s Interactive Preward® loyalty and reward programs. Prewards are offers from retailers that are redeemed by simply using a debit or credit card at the merchant’s point of sale.
The edo Preward Platform enables merchants to deliver digital offers directly to a targeted consumer base of active cardholders that have registered to receive Prewards. Cardholders are then notified that a Preward offer is available. The cardholder accepts the offer and redeems it by simply shopping at the merchant offering the Preward.
Fifth Third Processing Solutions’ product suite also includes ATM terminal driving and monitoring, ATM and debit card transaction authorization and processing, credit issuing and processing services, national and regional gateway services, comprehensive ancillary services including fraud detection, card production, Rewards! product, and other consultative services.
“We are delighted to be working with Fifth Third Processing Solutions to deliver unique and innovative rewards solutions to their financial institution customers,” said Ed Braswell, CEO of edo Interactive. “edo’s Prewards provide timely and relevant savings to consumers which can help a financial institution increase loyalty to its card portfolio. In addition, we are excited to be working with Fifth Third Processing Solutions’ merchant partners to offer a unique opportunity to leverage the same platform for advertising.”
“Our clients rely on our expertise to offer solutions that complement their financial service solutions, and we are excited to deliver this new technology to them,” said Royal Cole, President, Financial Institution Services at Fifth Third Processing Solutions. “As the payments industry scrambles to make adjustments as a result of the recent financial regulations, financial institutions need alternatives to increase transaction volumes, differentiate their card offerings and boost their return on investment for their marketing investments.”
About Fifth Third Processing Solutions
Fifth Third Processing Solutions, LLC delivers innovative payment transaction processing and acceptance solutions to create and support complex payment strategies for merchants, businesses, and financial institutions around the world. A pioneer in card payment acceptance in the early 1970s, Fifth Third Processing Solutions is headquartered in Cincinnati, Ohio and is a joint venture with Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp (FITB).
As a premier full service payment solutions provider, the Company provides servicing solutions and product engineering for financial institutions’ and retailers’ credit card, debit card, merchant and private label programs processing over 33.3 billion ATM and point of sale transactions and over $315.5 billion in debit and credit card sales volume annually. The Company supports over 180,000 merchant and financial institution locations and 11,000 ATMs in 44 states and 11 countries. According to the Nilson Report (March 2010), the Company is the third largest U.S. merchant transaction acquirer. Learn more at www.FTPSLLC.com.
About edo Interactive, Inc.
edo Interactive is a pioneer in digital and mobile advertising solutions, leveraging everyday payment networks to connect brands with consumers. edo’s comprehensive marketing platform employs advanced analytics and loyalty solutions to create value for consumers, brand advertisers and financial institutions. For more information, please visit www.edointeractive.com.
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