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Murray McKintosh News Article

Cross-Platform Marketing Comes to Credit Card Networks

Written by:

Jessica Kavanagh

If you are a creative technology specialist who loves economics, there are financial services recruiting firms looking for your services. The launch of cross-platform marketing via credit card networks is the next big thing on the financial services horizon, and it is all due to Visa's recent acquisition of electronic couponing platform TrialPayDeals.

Visa turned the platform into a brand-new entity known as the Visa Commerce Network. Merchants willing to sign up with the network can cross market with other members, sharing information, tracking customer preferences and histories, and issuing customer rewards accordingly. Ride-sharing company Uber is one of the first dozen or so big companies to sign up. 

How It Works 

Any vendor within the Visa Commerce Network can promote purchases with a Visa card as a way to earn rewards. We will use Uber as an example. They set up a programme with a Boston fast food chain known as Shake Shacks to offer local riders discounted rides every time they use their Visa cards for food purchases. The programme is similar to credit card companies that offer mile rewards that can be used to buy airline tickets. Uber is now using the platform in ten of the cities in which it operates. 

In order to earn rewards, Visa cardholders must give consent to vendors to track their purchases and provide them with special offers. That undoubtedly means some cardholders will not be all that excited about participating. But for those who are, the Visa Commerce Network could be fairly lucrative. And that leads us to the point we made to start this post: financial services recruiting firms are looking for people with the right kinds of skills to make cross-platform marketing doable.

Technology and Finance Combined 

History dictates that those financial services companies able to most quickly respond to consumer trends are the ones that tend to lead the pack. We expect the cross-platform marketing idea to catch on very quickly. That means there will be companies looking to get on board fairly quickly by hiring tech-savvy workers who can combine technology and finance at the retail level.

There is no telling how long the trend will last, but those able to land jobs at its earliest stages will have the greatest chances of long-term employment. This is a market that is going places. 

Sources: 

  1. Finextra – http://www.finextra.com/news/fullstory.aspx?newsitemid=28404

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