Payment Information Value-Added Services: The Cornerstone of Customer Loyalty

ID Number: G00158644

3 July 2008

Christophe Uzureau

Payment information is a key source of competitive advantage for banks. Building customer loyalty and attracting new customers requires a new approach to the collection, integration, processing, delivery and tracking of payment information.

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Table of Contents

Analysis

1.0

Viewpoint

2.0

Report Focus

3.0

Analysis

3.1

PIVAS Defined

3.2

Rationales for Change

3.2.1

Consumers Want to Be Properly Rewarded

3.2.2

Banks Facing Erosion of Customer Relationships and Revenue

3.2.2.1		A Post-IPO World
3.2.2.2		Decoupled Payment Systems
3.2.2.3		New Consumption Patterns and Stronger Nonbank Competitors

3.2.3

Merchants Need More Proof of Value

3.3

Relationship and Local Rewards: Complementary to PIVAS

3.3.1		Localization and the Role of Matchmakers
3.3.2		Relationship Rewards Making Progress

3.4

Retail PIVAS for Promotional Activity and Beyond

3.4.1		How It Should Ideally Work
3.4.2		Near Field Communication's Possible Role

3.5

A Closer Look at PIVAS Providers

3.5.1		Welcome RT
3.5.2		Kobie Marketing
3.5.3		Chockstone

3.6

There's No Such Thing as Free Rewards

3.6.1		Supply-Side Uncertainties
3.6.2		Privacy Issues and Associated Risks
3.6.3		Getting the Time Right
3.6.4		Lack of Skills in Acquiring and the Lack of Collaborative Mind-Sets for Banks

4.0

Recommendations

Recommended Reading

List of Figures

	Figure 1.	Time to Reward Customers Properly — U.S. and U.K.

	Figure 2.	PIVAS Driving a Relationship Payment Strategy

	Figure 3.	Welcome RT Solution Payment/Information Flows

	Figure 4.	Kobie Marketing Solution Payment/Information Flows

	Figure 5.	Chockstone Solution Payment/Information Flows

	Figure 6.	No Consumer Rejection of Offers Printed on Receipts

Payment Services
Customer Satisfaction
Payments
Banking Business Strategies

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Resource Id: 713507