5 Reasons to Love Prepaid Rewards

This Valentine’s Day, we have an idea for Cupid. To really spread love around the world, he should replace his arrows with prepaid rewards.

In our experience, program sponsors and participants love them. Here are the top 5 reasons why:

#1. Prepaid rewards deliver more bang per buck.

Prepaid rewards are packed with more value than other incentives, such as checks, cash and merchandise. With prepaid, the payment is no longer just transactional; it’s an extension of your brand that enhances your overall marketing strategy and relationships with end recipients. Physical or virtual cards, delivery emails and redemption portals become vehicles to support your branding and communication efforts.

#2. Prepaid rewards mirror the way people bank, shop and live.

You instantly send money to your kids and friends via peer payment networks, your bills are delivered and paid electronically, and you order and pay for all kinds of goods and services online and via mobile apps. We all love getting everything we want and need without touching cash, writing a check or searching for a stamp. Digital prepaid incentives reflect the way you and your participants live, shop and bank online.

#3. Prepaid rewards offer choice.

Traditional incentives like tickets to a sporting event or merchandise may strike a chord with a few participants, but most people would rather decide how and when to show themselves some love. Accepted by millions of merchants, prepaid rewards give participants the ability to spend virtually anywhere they choose. Since the funds aren’t co-mingled with participants’ daily-use bank accounts, they are more likely to be spent on a memorable experience or purchase that generates positive feelings toward your organization. With Swift’s unique digital solutions, spread even more love by giving end recipients the choice between a virtual or physical card.

#4. Prepaid rewards travel at the speed of Cupid’s arrow.

Prepaid rewards, especially when delivered digitally, provide instant gratification to key targets. The result is more loyal customers, more motivated employees, and more enthusiastic partners and prospects. With real-time issuance and funding, you and your clients ensure that participants get and have the option to spend funds immediately. This shortens the time from desired activity to reward and reinforces desired behavior.

#5. Prepaid rewards are global.

Prepaid rewards have emerged as the incentive of choice for companies looking to reward individuals across the globe. That’s because prepaid allows for a seamless reward experience. Look for a program manager who can expand your reach by issuing multiple currencies in local languages and has an understanding of international regulations, shipping requirements and cultural best practices.  

We’re “Crazy 4U”

Looking for new ways to ask your customers, employees, channel partners and prospects to “Be Mine”? Reach out to your Swift contact for some fresh ideas on how to spread the prepaid love.

XOXO,

<3 Swift <3