Generate Revenue by Tying Premium Rewards and Benefits to the Debit Card
Research has proven that consumers will pay a fee for benefits and services that are valuable to them. For years, credit card companies have successfully offered card-level perks and benefits, such as bonus rewards, cash back and travel perks, based on the consumer’s desired service level (e.g., gold card, platinum, diamond, etc.). Now, you can implement a fully-automated, tiered rewards checking program linked to the debit card that features services and perks for which consumers are willing to pay. Generate new revenue at no cost to your institution — in fact, Velocity writes you a check!
Chances are that your account holders are already paying fees for services such as roadside assistance, travel discounts, cell phone protection and more, representing revenue that your financial institution should be earning.
What If...
- You could offer a debit card with rewards and benefits that parallel those attached to major credit cards?
- You could generate an incremental revenue stream with fees your account holders willingly pay?
- You could implement such a program without requiring additional resources from your team?