Virtual Visa Prepaid cards, the safe alternative for digital payments in 2020.
According to Google, 56% of Canadian shoppers say the pandemic will affect how they will shop this year. With e-commerce on the rise, brands are having to shift their marketing strategies this holiday season and appeal to the popular shopping periods such as Black Friday, Cyber Monday, and others leading up to Christmas. With the dramatic effect this pandemic has had on our world so far, the future has become increasingly uncertain for businesses in all sectors. Consumer concerns over safety have changed traditional shopping methods such as going to malls and paved the way for contactless and cashless payment options.
Virtual Visa prepaid cards are excellent examples of contactless and cashless payment methods that offer physical safety and online security. I’m sure you’ve seen it before, buy a set of tires and get a $50 Virtual Visa® Prepaid Card, or choose brand A, over brand B and receive a $25 Virtual Visa prepaid card – users simply need to check their inbox, securely access their virtual card and can then they can safely shop online. Virtual cards can also be used as incentive cards that enable businesses to facilitate payments instantly via email.
Brands that implement Virtual Visa prepaid cards quickly realize the wealth of benefits they provide. They are quick to launch, easy to administer via email, customers can receive the cards and use them online in an instant and they can be loaded with any denomination. Consumers also realize many benefits through their use. Their funds are protected and secured, cards can be printed/saved for safekeeping, and users can have access to mobile wallets to view usage data including recent transactions and card balance.
Recent data helps illustrate how Americans’ payment habits have changed in the current consumer landscape—and how brands can adapt using online incentive delivery and redemption – 71% of Americans expect to do more than 50% of their 2020 holiday shopping online. In Canada, Statistics Canada reports e-commerce sales more than doubled year over year, with a 110.8 per cent increase compared with May 2019, pointing to an opportunity for brands looking to thrive in this uncertain economic climate.
The safe and sound reward choice, for employees, volunteers, and customers!
New data from McKinsey also suggests that over 70% of Americans don’t feel comfortable going out to partake in “regular” activities, such as shopping, just yet. Providing online options will enable brands to generate sales, while also making customers feel safe.
Ready to get started?
We recommend starting your incentive plans early – All in all, brands should start exploring their incentive plans now, while they still have some room to breathe – the right incentive at the right time, can make all of the difference. Click here, to check out our interactive Virtual Card demo.
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