ISSUE NO. 72– December 2019
Luxury Retailers Boosts Revenue 34% with Card-Linking
Luxury retailers are increasingly embracing card-linking to create consumer loyalty and boost sales. In a keynote, Carolina Paradas-Mandato, global affiliate marketing manager for Harvey Nichols, detailed the organization’s online-to-offline commerce metrics, including a 15% market share increase and 34% revenue increase on a weekly basis. Representatives from 24S, LVMH’s online ecommerce platform, have had similar success since adopting a card-linked marketing approach.
Card-Linking: Why 8 of 10 Top U.S. Banks Do It
Unlike Facebook and Google, which use search or web visit data to target offers, financial institutions (i.e. Bank of America and American Express) use actual spending data to serve up relevant, actionable offers. Consumers are responding positively, which is one not-surprising reason eight of the top 10 U.S. banks now have card-linking programs in place.
Partisan Bickering Stalls U.S. Data Privacy Bill
While federal lawmakers intended to come to consensus months ago, it’s doubtful at this point due to impeachment hearings and other partisan priorities. California’s privacy bill is set to take effect on Jan. 1, 2020, and as most of the largest tech companies are headquartered in the state, it’s likely to become the law of the land if the Senate Commerce Committee does not come to an agreement in the next 10 days.
We Welcome Fanbank to The CardLinx Association
Fanbank’s next generation commerce software adds personalization to credit and debit card payments. Personalizing increases business profits by 25%. But marketers and business owners are bogged down with high friction payments and communications infrastructure that prevent them from fluidly and frequently launching personalized offer campaigns. Fanbank’s software, campaigns.fanbank.com, adds a full stack solution to MasterCard, Visa and American Express APIs providing a game changer for small business owners, franchisors, chains and major retailers as well as the acquirers and issuers who serve them. Fanbank was launched in 2017 by Mitch Jacobs, Founder and former CEO of Ondeck (NYSE: ONDK). Please visit www.fanbank.com for more information.