First Equity launches loyalty rewards e-shopping mall
The loyalty programme e-shopping mall builder Mall Networks has partnered with US-based small business credit card issuer First Equity to create and manage a customised, merchant-funded mall for First Equity credit card holders.
The new rewards mall has been set up to reward cardholders with incentives such as special offers and cash rebates on their shopping at the online mall. According to John Yardley, CMO for First Equity, "The rewards programmes we offered previously did not provide enough value to our card members, and were not widely used. Mall Networks' solution, which is tightly integrated into our web site, has high quality merchants and substantial promotions."
Worthy targets First Equity's Visa credit cards are offered only to creditworthy small businesses. Needing a stronger rewards programme to satisfy its growing customer base, the card issuer turned to Mall Network and its online rewards-based shopping mall platform (and its associated merchant relationships) to help increase member card usage and provide a competitive advantage for its card offerings.
Points and benefits First Equity card holders will be able to shop at hundreds of well known brands and merchants while earning points for their purchases (based on the amount they spend). In addition to funding the points for shopping through the mall, participating merchants will also provide cardholders with various special offers and promotions.
According to Dave Andre, CEO for Mall Networks, "Through our technology platform and merchant associations, Fist Equity is able to offer a high quality rewards programme, building deeper relationships with existing cardholders, and providing an incentive for new cardholders."