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Playing Your Cards Right - Incentives, rewards and compensation payments: harness the potential of prepaid cards

29/05/2019
From small purchases to big ticket items, today we reach for our cards to make payments for transactions of every type. Card payments are now our default way to pay in the UK. For marketers and brands, participating in this passion for plastic ensures that their incentive, reward and compensation programmes reflect consumers’ changing behaviour.

So, how can brands use this development to their advantage and ensure their current programmes are tailored to what their customers want, while also delivering the best possible return on investment? In this report, Hawk Incentives has taken a close look at the status and forecast for card payments in the UK, and analysed the increasing role that prepaid cards are playing in our everyday lives. It also examines the potential that such cards have to improve the effectiveness of incentive, reward and compensation programmes for companies.

The first chapter looks at the strong case for prepaid cards in the UK and why they’re already enthusiastically embraced by the younger demographic. There’s also a closer look at where - and why - certain sectors are increasingly choosing to offer prepaid cards to their customers.

Chapters two and three put a spotlight on the telecoms and the utilities sectors, where customer payments are a regular opportunity to incentivise new customers, reward them for their loyalty or compensate them when things don’t quite go to plan. Here’s where we’ll take a deep dive into how effective current programmes are. Do they really impact customer sentiment for brands? Could they do more to foster positive sentiment and drive brand advocacy?

Finally, we’ll take a look at the airline and rail industries, where a very high number of compensation payments are made to alleviate the misery of delayed flights or trains. How well do these companies do in this mostly negative context? Can they become more effective in generating positive outcomes, while also saving money?

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