Vesdia celebrates 10 years of loyalty
The US-based merchant network provider Vesdia has recently celebrated its tenth anniversary, reporting 116% compound annual growth rate (CAGR) and having helped consumers earn more than US$100 million worth of rewards since its inception.
Since the company's beginnings in 2000 (originally named BabyMint), founder and president Peter Davis saw that consumers would respond favourably to merchant incentives that contributed to their favourite causes, life goals, and reward programmes.
The company quickly expanded its operations by directing new customers to the merchants in its growing network, and by acquiring financial institutions and travel & hospitality clients with the aim of increasing customer loyalty, keeping their payment cards 'top of wallet', and of course influencing shopping decisions.
All of Vesdia's partners and programmes now use the patent-protected technology and merchant relationships that contributed to BabyMint's success, and Davis claims that Vesdia's is the nation's largest merchant network as measured by the value of rewards delivered to participating consumers.
Central to Vesdia's strategy are several key marketplace differentiators, including:
- A strong merchant network that allows all programme members to earn consistent and meaningful rewards at participating merchants without having to "jump through hoops" to qualify.
- An engaging, user-friendly and feature-rich online shopping mall that leverages its partnerships with well known retailers to deliver targeted offers that encourage members to earn additional rewards.
- A portfolio of highly visible clients, including American Airlines, Citizens Bank, SunTrust Bank and Upromise.
- An in-store merchant network made up of well known brands that reward consumers for their business, including AMC Theatres, CVS, Golfsmith, Hard Rock Caf, Jos. A. Bank, Lowe's, and Sunglass Hut.
- A management team of industry veterans combined with a team of nearly 100 employees, enabling the company to effectively reach and engage consumers nationwide.
"It is very satisfying to me knowing we have been able to repeatedly increase consumer's loyalty to our clients during the past ten years," concluded Davis. Vesdia currently supports and works with a number of financial institutions, airlines, affinity groups and retailers.