What is a co branded debit card
A co branded debit card is intended to add value to all participating companies to the debit card and the users of the debit card. A co branded debit card is an effective business tool and as such it is important to understand exactly what a co branded debit card is. It is advised to seek the guidance of a professional consultancy firm to better understand the payment processing industry to ensure you get the most out of your co-branded debit card.
For more information on co branded debit cards, please click on the following link to view our Merchant Services section.
Features of co branded debit cards
A co-branded debit card is basically a regular debit card but which also typically has both primary and secondary co branded companies party to it.
A co branded debit card is preferred by most companies over a co branded credit card as the money used for a debit card is the account holders own money, whereas the credit card money belongs to the credit company.
Typically a co branded debit card will have 3 logos on it; the card issuing company, brand of card and the other company seeking the co-branded debit card for their own promotion.
The definition of a co-branded card for the benefit of a company is where a debit card is specifically designed with said company logo as the dominant brand on the card. Basically a co branded card unifies a partnership agreement between the card issuer (bank), the card brand (i.e. MasterCard) and the company seeking the co branded card for promotional activity.
The main impetus in obtaining a co branded debit card is to enjoy the value added services and benefits which are associated with the card. A co branded credit card can effectively help the applicant company in obtaining a wider customer base and heightened consumer loyalty and customer awareness of their business.
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