Promotion & Marketing Applications
Wave Crest Customized Pay-In and Pay-Out Applications
Wave Crest's customized open-loop and closed-loop prepaid card solutions, along with its specialty point of sale acceptance applications have a role to play in helping clients increase product knowledge, increase sales, or support the client's brand and corporate image.
"Pay-Out" Applications
Wave Crest will facilitate paying out the promotional rewards on to a card - whether the payment is the same, based on specific behaviors, more of an "experience," or completely randomized with large or small (or no) payouts to add excitement to the promotion.
Wave Crest works with you to establish a customized payout program on its eMoney platform that will reach your promotional objectives through the promotion participant's reward being placed on to a Payment card account. The card is either "instantly issued" at a merchant or promotion location at the time of the event, or the promotion participant can enroll online at the company or advertising agency website. Typically, part of the reason for the promotion is to capture participant information for follow up and sales marketing. So participant information can be captured at the time of issuance through the terminal or web interface applications that Wave Crest provides. In some instances, cardholders can accumulate promotional rewards on the card account, if the marketing program goes on for some time. The cardholder can then spend the balances on the card for "open loop" payment system purchases of goods and services wherever Visa or MasterCard is accepted.
"Pay-In" Applications
If the client's promotion program's objective is to focus the cardholder on shopping at specific retailers, Wave Crest can program those retailers' point of transaction card acceptance software to differentiate those promotional cards and offer additional coupons and discounts to the cardholder. If deep customization is needed, retailers can use multiple currencies, including non-monetary loyalty point currencies.
The cardholder can then spend the balances on the card for "closed loop" and therefore specially priced purchases within operator and affiliate stores, restaurants, hotels and entertainment venues
Wave Crest provides the proprietary technology for these hybrid "open-loop" and "closed-loop/loyalty" card issuing and acquiring applications." purchases or reward point redemptions. As with all of Wave Crest's solutions, a complete suite of customer care is available that is branded to present the company's corporate identity and its specific promotion marketing messages.