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There are
numerous methods for an ISO to make money with ABN Card Services. The two
most common are through their credit and debit card programs. The other
methods for developing residual income are with their Gift Card and EBT
plans.
ABN
Card Services, a subsidiary of American Banknote Corporation, sells and
supports electronic gift cards for single or multi-store merchants. The
gift card is a useful marketing and loyalty tool. Merchants benefit from
improved auditing and tracking of gift certificates, easy
settlement/reconciliation, as well as data tracking and analysis of
purchase habits.
According
to Brent Bowen, President of ABN Card Services, gift cards provide
significant merchant benefits, including:
•
Increased Sales
•
Float and Unused Value
•
Elimination of Cash Back
•
Strong Marketing/Promotional Tool
•
Automated Settlement and Reconciliation
•
Improved Security
•
Consumer Convenience
•
Easy In-Store Return Policy
“With
ABN’s gift cards, retailers have the ability to keep the money in their
own stores by utilizing electronic gift certificates,” said Brown.
Merchants can also elect to participate in a flexible customer loyalty
program that provides a value added service by offering incentives for
customer loyalty with future discounts and prizes.”
Bowen
described ABN’s newly announced “Frequency/Loyalty Program” as an
easy to sell idea. “It’s multi-tiered and designed to provide the
merchant with flexibility in what he wants to offer his customers. It is
designed to reward the customer for returning and buying from that
store.” Merchants assign points and coupons to customers based on their
gift card purchases. For example, if the merchant operates a golf pro
shop, at tier one, the customer may be entitled to hit a free bucket of
balls. At tier two, the customer might get a free lunch. Tier three can be
a much more significant coupon, such as a free golf lesson.
ISOs
earn revenue from the sale of each gift card, from each transaction, and
from the markup on the statement fee. “The greater the volume the more
they can make,” said Bowen.
“The
beauty of it is that it is really up to the merchant what they want to do
with it. They can pretty much design whatever kind of program they want
to.” Bowen said. “Once the consumer hits a tier they can decide on
whatever coupons are associated with that level.” Bowen said that while
gift cards were originally aimed at the big chain or mall stores, they
could be readily marketed toward the smaller mom and pop retailers.
A
growing opportunity exists with marketing ABN’s EBT program. ABN
processes nearly 100,000 EBT transactions a month for a number of banks
and ISOs. Reps are paid the same way they would be paid on debit
transactions with a buy rate for the product. ABN is currently supporting
a number of split dial solutions.
For
more information about ABN Card Services, call (856) 273-1177, or visit
their Web site at www.abncs.com.
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