GiftCard Partners Blog

This  is quite possibly the most comprehensive infographic ever created around mobile payments. Our question for the prepaid industry, loyalty rewards program management companies, and gift card retailers and merchants:  Is our next loyalty program component in the area of mobile payments use? Source:
MostWanted via Prepaid Expo

It is a proven and accepted reality in business today that engaged employees increase a company's bottom line. However, new research from Gallup show that engaging B2B customers by establishing an emotional connection based on confidence, integrity, pride and passion is crucial to customer impact. Engaged customers deliver 23% more revenue than average customers in wallet-share, revenue, relationship growth, and profitability. According to the same Gallup research only 13% of B2B customers are fully engaged. Engagement exists when customers go out of their way to favor a relationship over price. This deepens a relationship, and often customers  are rewarded for their loyalty with either a discount for services rendered or other perks from the company providing the service. Treating customer engagement and employee engagement similarly will garner similar outcomes. Reward customers for any business you gain, the way you would an employee. Provide spot rewards, such as a small gift card for small business gained and for a major expansion in business or formation of an industry partnership, provide a broader reward. Creating a 360 degree customer feedback loop provides opportunities for relationship growth. Putting constant work into the companies' relationship is crucial. The time you spend ensuring that your employees are loyal should be equivalent to the time you ensure that your customers and partners are going to continue to drive your business.  
For more information on B2B customer engagement check out this Business News Daily article.

Since health and wellness programs have shown impressive results in reducing employers' health benefit costs, small businesses have prioritized space in their budgets for health and wellness programs. A new Towers Watson/National Business Group survey has shown that "high performing firms" engaged in health and wellness programs have reduced their cost growth to 1% per year. The same survey also revealed that employees pay 20% less on average for health benefits at "high performing firms" than at "low performing firms" with no health and wellness programs. The return on investment of implementing these programs in companies of any size had proven consistent return on investment for both parties. As employers control health care costs; employees improve their health and engage in group programs and recieve rewards, such as small denomination gift cards, or preloaded debit cards. How does your small business use health and wellness programs?
For more information on small business use and benefits of health and wellness programs check out this Insurance News article.

American Express has taken a landmark step in their fight to oppose the New Jersey law that would allow the state to claim unused gift card balances after two years. A recent National Public Radio (NPR) broadcast discussed Amex’s gift card product pull from shelves, and also noted Blackhawk’s threat to pull their 3
^rd party gift and prepaid cards. InComm, the other major 3rd party gift card play is also planning to follow suit.
Listen to NPR's Morning Edition interview.

Longtime Olympic sponsor Visa, and cell phone giant Samsung have combined forces to launch a mobile app that will allow for patrons at the 2012 London Olympics to pay for purchases with a wave of their hand. The Visa payWave technology uses Radio Frequency Identification (RFID) technology to allow consumers to pay with a wave of their mobile phone, with an approved smartphone at a specially designed mobile payment terminal. Although the technology is limited to consumers who have the approved device, this technology is believed to take less time at POS than any credit card, debit card, or cash transaction. Additionally, statistics from credit card comapnies show that consumers tend to spend more per transaction at mobile payment terminals. This technology, if it catches on from the global exposure at the 2012 Summer Games, could revolutionize payment systems. Imagine being able to redeem a gift card with a wave of your hand, instead of waiting in line to redeem your gift. The time efficiency and convenience of payment could revolutionize payments, as well as change the way consumers handle their smartphones. Phones could turn into a consumer’s, phone, computer, wallet, and bank all tucked safely into their pocket.
How do you see Contactless Payment affecting credit, debit, and gift card use going forward? For more information check out this Point of Sale News article.