Enterprise embedded finance provider boosts card rewards capabilities through a network of thousands of merchants
DENVER, March 6, 2024 - Alviere, the leading embedded finance platform provider, announces that its enterprise clients can now expand their co-branded debit card incentives with merchant-funded rewards. Co-branded cards play a critical role in the loyalty and rewards programs of airlines, hotels, and retailers to increase customer lifetime value (CLV). Now, with merchant-funded rewards, the value of each dollar spent is multiplied, giving more purchase incentives to consumers at no cost to brands issuing the cards.
According to Boston Consulting Group (BCG), loyalty programs receiving the highest engagement and loyalty ratings see an average 35 percent greater share of their customers’ wallets. For free loyalty programs, “personalization is the leading tool for success” — demonstrating a ripe opportunity for co-brand, loyalty, and rewards leaders to examine existing offers and customize rewards offerings for their unique customer base. For example, an airline’s co-branded card could offer rewards at a range of hotels, vacation rental marketplaces, or resorts most relevant to their passengers.
The launch of merchant-funded rewards through the Alviere HIVE platform offers enterprise brands a new way to personalize offers. Building on Alviere’s long standing cashback capability on co-branded debit cards, which allows enterprises to offer consumers a percentage of qualifying card spending back in the form of cash rewards, enterprise clients can now access lucrative incentives that are fully funded by a network of thousands of merchants, with the ability to customize the experience to drive repeat purchases, loyalty, and overall revenue.
Commenting on the importance of merchant-funded rewards, Alviere co-founder and CEO, Pedro Silva, says “Our enterprise clients demand co-branded debit card offers that are as compelling as existing co-branded credit cards. Offering merchant-funded rewards enriches the co-branded debit card value proposition in a loyalty program, at no cost to the issuing brand.”
Alviere offers brands the most complete and secure platform to deliver a full suite of financial products and services with a single integration. By integrating new features from partners into its HIVE platform and with a single contract, Alviere enterprise clients avoid having to identify outside service providers, vendors, or partners to launch a new financial program or feature.
About Alviere
With Alviere, any organization can offer financial products to drive customer engagement, generate new revenue streams, and improve existing financial flows. The Alviere HIVE platform offers an extensive range of configurable, branded financial products, including accounts & wallets, card issuance, streamlined payments, and global money transfers. Alviere brings together technology and program support with the trust of a licensed financial institution to assure the safety, flexibility, and long-term viability for client programs. To find out how Alviere can enhance your core business, visit alviere.com.