A co-branded credit card is a cash card that is co-sponsored by two different companies. Co-branded cards are a popular method of increasing brand awareness as companies can be advertised and recognized for their joint ventures by their clients across the globe.
Features of a co-branded credit card
A co-branded credit card will generally have 3 logos on it, however co branded credit cards may only include the card issuing company and the associated bank or financial institution – therefore showing 2 company logos on the card. The definition of a co-branded card for the benefit of a company is where a credit card is designed with said company logo as the dominant brand on the card.
Therefore a co-branded credit card is a credit card which typically has both primary and secondary co-branded companies on it. For example, a co-branded MasterCard card would appear with the MasterCard logo on it, the bank logo of the card issuer such as HSBC (typically the primary co brander), and the logo of the secondary co-branding company such as a travel agency company.
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 credit card is for the added value it can have on your business. This can effectively help the applicant company in obtaining increased consumer loyalty and customer awareness of their business.
When seeking co-branding on cards, it is advised to seek the assistance of a professional consultancy firm. Through the expert advice and guidance of consultants, you can ensure that the process of co-branding is completed in a professional and timely manner.
To learn more about co-branded cards and how to incorporate this payment solution, please visit our Co-branded Cards service page.