TruCash rewards debit card launches in Canada
In Canada, TruCash has partnered with Ontario-based PACE Savings and Credit Union to offer consumers a new debit card that provides TruCash rewards with every purchase. The new PACE Power Card replaces the credit union's existing debit card.
PACE Savings and Credit Union has begun distributing the new PACE Power Card which featuring TruCash Rewards, replace existing cards for over 9,000 PACE members throughout Ontario.
The new card allows members to earn 3 TruCash Reward points for every Can$1 spent on the card. PACE members earn additional points when they use their Power Card at participating TruCash Retail Partners.
Easy redemption According to Diana Fletcher, president of DCR Strategies Inc. and the TruCash programme, PACE's management team was looking for a way to retain existing members and acquire new ones: "What makes the TruCash programme distinctive from other coalition loyalty cards is its easy-to-redeem feature that allows members to convert their earned points to cash online and then - using the same card - withdraw the cash at any Interac, Cirrus or Maestro labelled ATM or POS terminal worldwide."
Points for loans PACE will also be offering TruCash points, for a limited time, on selected financial products including mortgages, personal loans and lines of credit. Terry Chapman, vice president of special projects for PACE, said: "We wanted to provide our members with a flexible rewards programme which would allow them to earn points just by using their PACE Power Card."
Seeking more partners DCR Strategies is actively seeking other credit union partners to participate in the TruCash programme, due what it describes as "overwhelming interest" from members. The company's initial tests showed that by adding the loyalty component, members are willing to make their credit union debit card their primary card for payments, which could potentially double the card's usage.