A company debit card doesn’t just give you control over your corporate finances; it can be a great branding opportunity too. In this article, we look at the ways you can integrate your own brand into your debit card and the benefits that are available via debit card branding.
There are various ways you can create branded debit cards and the best option for your hotel will likely depend on how the debit cards will be used and who they will be issued to. Read on to discover two of the most popular ways to incorporate your brand into a debit card:
Debit Card Co-Branding
A co-branded debit card displays the logo of the network or issuer, such as Mastercard, but it also features your hotel’s branding too. If you’re issuing company debit cards to employees, for example, a co-branded card could be a viable way to strengthen your brand identity.
However, this isn’t the only benefit associated with co-branded cards. When you launch co-branded debit cards, you’ll have the chance to offer cardholders specific incentives, such as rewards or loyalty points. These incentives can be an effective way to maximise card usage, which is beneficial for companies that want to entice customers to apply for a debit card.
White Label Card Issuing
If you want to launch a company credit card for clients and customers, white labelling card issuing could be the ideal option. Instead of going through a rigorous licensing application process, you can use an established card issuer, like PayAlly, to handle the processing and regulatory requirements.
With the ability to use your own card design and branding, white label card issuing can be a viable and effective way for hotels to launch their own card service using the framework and services of regulated providers.
Why Should You Integrate Your Own Brand in Your Debit Card?
Now you know how to integrate your own brand into a debit card, it’s time to examine why you should. Both co-branded debit cards and white label debit cards offer a range of benefits, including:
Enhanced Brand Awareness
Debit cards are used frequently in a wide variety of locations. Debit cards issued via the Mastercard network can be used throughout 210 countries and territories. When your brand logo is featured on the card, you can raise awareness of your company and its visual identity and strengthen brand recognition throughout your target locations.
Generate Cardholder Loyalty
When you’re issuing debit cards to clients, garnering their loyalty will have a significant impact on your revenue stream. Launching co-branded or white label debit cards allows you to customise your unique value proposition (UVP) and, therefore, gives you the opportunity to build trust and loyalty.
If cardholders are rewarded every time they use the card, for example, they’ll be more likely to use it over any other card they may have in their wallet or purse. In turn, you can generate revenue every time the card is used, thus boosting your profitability via branded debit cards.
Increased Customer Spend
As well as using a co-branded card more frequently, cardholders are likely to spend more per purchase when they are being rewarded for their usage. As your revenue stream is likely to depend on purchase volume and value, this is an important way of optimising your hotel’s commercial performance.
By introducing coveted incentive strategies, you can entice cardholders to spend above minimum amounts to secure rewards and, as a result, you’ll generate a higher amount of revenue for your business.
Reduced Costs
If launching a debit card is a key part of your growth plan, you’ll want to find the most cost-efficient way to achieve your goals. Launching your own card from scratch can be time-consuming and costly, particularly as the licensing process is complex and rigorous.
By choosing co-branded or white label solutions, however, you can reduce the number of resources required to launch a branded card and, therefore, cut your company’s expenditure.
Accelerated Launch
In the same way that integrating your own brand in your debit cards via co-branded or white label solutions can reduce your costs, it can also enable you to get your cards out to intended cardholders much more quickly.
It can take months or years to successfully navigate the licensing process but launching co-branded or white label debit cards can be done in a fraction of the time. So, why delay your new revenue stream when you could be generating funds from branded debit cards now?
Company Differentiation
Differentiating your brand from its competitors is an important way of generating interest amongst your target audience and increasing acquisition rates. When your logo is featured on debit cards, you can be sure that it will set your company apart from the competition and provide a new and innovative way for you to differentiate your business from others in the market.
What Debit Card Options Are Right for Your Business?
Choosing the right financial solutions and services can be tricky, which is why PayAlly is always on hand to provide the tailored support you need. With a dedicated Relationship Manager, you can explore all of our debit card branding options and get expert advice that will enable you to make an informed decision on behalf of your hotel.
To find out more about how to integrate your own brand into your debit card, get in touch with our expert team now at [email protected] or by giving us a call at +44 (0)208 0595 005.
