Independent Banker - September 2020 - 31

The bank boosts credit card utilization
by off ering ScoreCard Rewards,
in which customers earn points each
time they use their credit cards, which
they can redeem.
What is your bank's digital payments strategy?
Visit icba.org/payments to read the ICBA Bancard Digital
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community banks prepare a strategy tailored to their
customers' needs.
Snyder adds, " Points can also be
redeemed by playing games on the
ScoreCard Rewards website. "
Tying strong customer service
to cards
Community bankers are in the best
position to be top-of-wallet issuers
because they excel at knowing their
customers, says Damon Moorer, president
and CEO of TCM Bank, a Tampa,
Fla., subsidiary of ICBA Bancard that
off ers a credit card agent program.
Strategies to increase card utilization
include keeping products and
features relevant and off ering a diverse
product suite to appeal to a variety of
customer profi les, with cards based
on cashback, travel, rate and affi nity.
" Utilize targeted, prescriptive messaging
to uniquely highlight the value
proposition to each customer segment, "
he adds.
Banks should also leverage technology,
such as mobile capabilities and
contactless cards, to increase ease of
use and " to maximize the 'cool' factor, "
Moorer says. Card enhancements like
cell phone protection, travel insurance
and concierge services add value with
minimal expense.
Manish Nathwani, senior vice president
of product development at Shazam
in Des Moines, Iowa, says banks can
enhance their chances of being top of
wallet by off ering chip-card solutions
(contact and contactless), PIN protection
for additional security, and cards
that have wide acceptance across geographies
and channels.
" Banks can also off er value-added
services, such as easy-to-dispute resolution
services, fraud protection services
and purchase protection, such as PayPal
purchase protection when using the
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Independent Banker - September 2020

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