WASHINGTON, July 1, 2013 /PRNewswire-USNewswire/ -- The American Bankers Association – through its subsidiary the Corporation for American Banking – has endorsed the card-linked offer technology powered by Linkable Networks. Linkable enables banks to distribute digital coupons to their customers' debit, credit, or prepaid cards.
The program includes current offers from national merchants and participating banks can offer discounts from local merchants as well as existing business clients.
Linkable enables offer distribution across multiple channels including mobile phone, tablet or PC as well as traditional media such as print, TV and radio. Once a payment card is registered, consumers are able to link offers to their card with a simple click or scan of a QR code. When the offer is redeemed at the point of sale the savings appear directly on the customer's bank statement, eliminating the need for paper coupons or having to pre-pay for discounts as is required with traditional daily deals. Merchants only fund offers that are redeemed. This pay-for-performance approach results in costs to the merchant only when sales occur.
"Card-linked offers have become an important way for banks to frequently engage their customers and provide added value," said Bill Kroll, ABA executive vice president. "Consumers love meaningful deals, and Linkable has put our member banks in a position to enhance their brand and be that source of value to their customers."
"We were looking for a way to serve two constituencies – our consumers and business clients – with a simple way for them to take advantage of discounts and coupons," said Howard Jaffe, president and COO of Inland Bancorp, Oakbrook, Ill. and program participant. "Merchants have been extremely receptive, and our staff has found the implementation to be seamless and easy to use."
"We're excited to offer banks the opportunity to provide their customers the benefits of Linkables," said Tom Burgess, CEO of Linkable Networks. "Merchants love the program due to its easy implementation, control of promotional spend and measurement abilities. Card-linked offers are the future of coupons, and we are pleased to provide bank customers a secure and hassle-free way to save."
SOURCE American Bankers Association