Payment Marketing is catching up now. This provides the Bank / Retailer to push messages / offers on real-time to their customers.
What is Payment Marketing?
Payment marketing is a mode of marketing using the Customer's payment card information and provide the customers with relevant offers / promotions etc. with the help of a layer built on top of the existing POS Terminals.
We have already seen the importance of Payment card companies in the field of marketing. This is another layer of it
How it Works?
The lifecycle of Payment Marketing revolves around understanding the customer through analytics. Swipely, a Payment marketing technology integrates with the payment network and collects data whenever the payment is made. The data is analysed and the insights are fed back to the marketing system, which can be used to
- Send Personalized Messages (Thank you message etc)
- Cross-Sell products/Services
- Inform corrective actions
The above can be expanded based on NBA strategy. The advantages of Swipely is the ease of upgrading - no hardware / software is required and no changes in customer's payment m
DriveItNow uses the Credit, Criteria and Collateral to provide real payments
This is the next thing to lookout for in Analytics
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