Dell Virtual Reward Card Named Winner in Best Prepaid & Payments Innovation
StoreFinancial is proud to announce that the Dell Advantage ePromotional card was awarded for “Best Prepaid & Payments Innovation” at the 3rd Annual PX Prepaid & Payments Awards on May 29, 2014 in Toronto, Canada. StoreFinancial is the co-program manager and payment processor, and Peoples Trust Company is the sponsoring financial institution for the card program.
The Dell Advantage ePromotional card is a virtual offering that rewards Dell Advantage customers (Dell’s most active Canadian customers). The customers’ account or “card” is credited with five percent of the value of their qualifying purchases.
The program has been extraordinarily successful, driving an impressive 50% improvement in customer return on Dell.ca. As a virtual card, it is delivered in real-time to the customer – understandably one of the drivers of its success. Additionally, the card value expires three months from activation, encouraging the customer to use the card quickly on Dell.ca, which generates incremental revenue for Dell.
StoreFinancial, the virtual card co-program manager and payment processor, utilizes its redemption control platform to allow all ePromotional card redemption to occur on Dell.ca and nowhere else.
While StoreFinancial’s physical card programs are well-liked for gifts, incentives, and loyalty promotions, StoreFinancial is able to offer significant value to its clients with a virtual card for these same types of programs. StoreFinancial’s virtual cards provide real-time delivery, drive specific consumer spending behavior, and automate settlement. Plus, the cost of physical card production is avoided with a virtual card program.
The Dell ePromotional card was also recognized as a runner-up in the Best Mobile Payments Application award category. The PX Prepaid & Payments Awards are presented by Payments eXchange, a community-based organization that strives to advance prepaid, emerging technologies and payments in Canada.
Winners from all PX Prepaid & Payments Awards categories are automatically entered in the Global Emerging Payments Awards to be held in London on Oct. 27, 2014.
StoreFinancial is a leading payments processor and program manager, specializing in delivering custom payments and prepaid solutions throughout North America and Europe. Since 2003, StoreFinancial has built a portfolio of more than 600 clients and has become one of the world’s largest private-label program transaction processors and program managers. The company is headquartered in Overland Park, KS, and Amit Raizada’s Spectrum Business Ventures (SBV) invests in the company. Visit online at www.storefinancial.com.
About Peoples Trust Company
Peoples Trust Company is a financial institution headquartered in Vancouver, B.C., with offices across Canada. The Company is active in originating and servicing mortgages, with over $6.2 billion in assets under administration, and offers very competitive deposit products. Peoples Trust, through its subsidiary Peoples Card Services, is a pioneer of prepaid and credit card programs in Canada, and a market leader in both reloadable and non-reloadable card products of Visa and MasterCard. For more information, visit www.peoplescardservices.com.
About the PX Prepaid & Payments Awards (Canada)
PX Prepaid & Payments Awards is an annual black-tie gala celebration held in Toronto, Ontario, Canada. Each year, following the PX Retreat, the PX Community comes together to celebrate innovation, best practice and achievement in all aspects of the gift, prepaid, emerging technologies and payments industry. For full Awards results, visit www.PaymentseXchange.ca/Awards.
About Payments eXchange (PX)
Payments eXchange is the feet on the ground, in Canada, to bring our industry together with greater regularity, precise focus on the Canadian landscape and to drive adoption of our respective prepaid, payments and mobile related products and services. Our responsibility is to engage and grow our Community, where we have a respected platform to stimulate and educate consumers, regulators and stakeholders on best practices, trends, challenges and opportunities. Our well established dynamic and influential Community of thought-leaders, industry and product shapers are comprised of companies doing business here and others who intend to do business here, in Canada. For more information, visit www.PaymentseXchange.ca.