Local merchants, who value the referral of banks and credit unions, have agreed to "give back" a percentage of each sale made with a debit card issued by you.
DebitDeals requires no changes to your back office, nor does it require extensive software or other technology installation. DebitDeals simply filters through our affiliate's debit card transactions nightly, matching the transactions to "give back" merchants, and debiting the merchant to then credit the debit cardholder's account. The list of merchants is accessed by your cardholders via DebitDeal's website, and also from a list of YOUR commercial "give back" merchants received from you directly.
DebitDeals also welcomes participating merchants that may be commercial customers of any bank or credit union.
Our patent (pending) platform processes "Give Backs" from transactions generated by any debit card issued by a participating bank or credit union.
Finally, we believe in assisting local non-profits so we require (at least) 10% of all merchant "give backs" to be donated to a local charitable organization or cause, which may be chosen by the financial institution. We allow the cardholder to change any default non-profit to the cardholder's cause of choice, provided the cause is a bonafide non-profit and registers.
The benefits to a financial institution's commercial and consumer customers to participate in this "give back" are:
- Consumer customers receive cash back rewards for debit card use
- Commercial customers promote their business with bank/credit union referrals and build customer loyalty...
- ...and save on interchange which justifies and pays for some of their "give back"
- ...and can compete with national on-line merchants that are chipping away at their market
- ...and save on advertising costs, since there is no cost until AFTER a sale is completed and collected.
The benefits to the financial institution are:
- The financial institution receives a portion of the "give back" cash to supplement your Interchange Revenue
- Commercial account acquisition is improved as a result of businesses recognizing the financial institution's commitment to bringing its own cardholders to the table as customer referrals for the merchants
- The financial institution may elect to recruit merchants or not, and still the program works
- Consumer account acquisition for the financial institution, as compared to non "give back" debit cards, is improved
- Financial institutions provide local business associations and buy local campaigns enhanced business opportunities since the financial institution can competitively assist with originating more revenue and customers for all in a manner non-participating banks and credit unions cannot, and non-profit(s) benefit at every level.
