Co-Brand credit cards continue to be a big earner for loyalty programs and banks. However, people are looking for more pragmatic payment options that still deliver rewards, especially among young-student loan-burdened customers.
Post Durbin Amendment, many large banks have curtailed their debit card reward portfolios, however, a new company co-founded by Doug Bobenhouse, called Synchology, is all in for the pre-paid reward card market. Synchology offers loyalty programs a completely white labeled pre-paid reward card solution that will allow customers to earn the program's points on card transactions, plus a suite of other benefits including a sophisticated customer money management portal and advanced behavioral analytics for program managers to really know their customers.
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