Starbucks and RBC launch multi-function credit card
In Canada, Starbucks and RBC Royal Bank and have introduced a hybrid 'two in one' card that combines a standard RBC Visa credit card with the re-loadable Starbucks Card.
The new Canadian Starbucks Duetto Visa Card offers coffee-drinking consumers the option to pay for their drinks, reload the prepaid portion of the card, earn loyalty points, and redeem their loyalty rewards with a single card. When the card holder uses the Visa portion of the Duetto Card, they earn 1% of their purchase value back in Duetto Dollars, which are automatically loaded into their Duetto Dollars account at the end of each credit card billing cycle.
As a rather clever incentive for card holders to use the Visa portion of the card to top up their Starbucks Card account, they will earn 3% in Duetto Dollars with each such reload. Each quarter, cardholders also stand to earn extra Duetto Dollars based on the spend level of their Duetto Dollar account. This mechanism allows cardholders to earn up to 10% back on all spending in Starbucks stores for the quarter.
Redeeming These Duetto Dollars can then be used for purchases at Starbucks, including drinks, food and other merchandise. Using the Duetto Dollars account in Starbucks stores also qualifies the card holder for additional rewards, and new card holders receive a one-time pre-load of Can$10 to their Starbucks Card account after their first Duetto Card Visa purchase, and they also qualify for various quarterly gifts and benefits.
"More and more consumers want to be rewarded for their loyalty," said Dave McKay, RBC's senior vice-president of credit cards and financing products. "The Starbucks Duetto Visa Card makes this possible for RBC card holders and Starbucks regulars."
Community angle In keeping with Starbucks' commitment to social responsibility, the company will also contribute five dollars to Frontier College for adult and youth literacy after the first Visa purchase made on each new card account. Frontier College, a national volunteer-based literacy organisation, will use donations made by Starbucks during the launch of the card to fund summer writing camps for youngsters in communities across the country.
For additional information: · Visit Starbucks at http://www.starbucks.com · Visit RBC Royal Bank at http://www.rbcroyalbank.com/duetto