VisiFI Announces Prospero America Partnership
Gift Card Rewards Program Benefiting Credit Unions and their Members
BIRMINGHAM, AL (November 16, 2020)
VisiFI, a Dedagroup company and thought leader for fintech solutions, has announced a partnership with Prospero America Inc., the US subsidiary of Prospero System Ltd. This new partnership allows VisiFI to offer a gift card rewards program to its credit union customers that enhances their members digital channel experience while receiving instant cash back on purchases made at over 250 national merchants.
The gift card rewards program is a mobile payment and rewards web services feature that is embedded in VisiFI’s proprietary CUe-branch online and mobile banking application. Credit union cardholders will have the opportunity to earn and redeem instant cashback when they pay with an electronic gift card at one of the participating merchants.
“During the pandemic, we continue to see members across all generations using digital channels for their banking needs,” said Jami Jennings, Director Digital Channels at VisiFI. “We wanted to make these digital channels more personal and establish a loyalty program to deepen the member relationship with their credit union. It’s Simple, It Pays and members will enjoy watching their cash back amount grow with each purchase.”
VisiFI continues to search out partnerships and products that bring value to customers and credit union members. Investing in digital channel solutions, such as the gift card rewards programs, is an example of one of these partnerships that helps credit unions to stay ahead of member demands.
“Research shows that as more members go digital, they are expecting a personalized experience with value,” said Gary Schoeman, CEO of Prospero America. “Loyalty programs are one of the most effective ways to show value with a tangible and relevant benefit.”
The new program will be rolling out to VisiFI customers beginning November 17, 2020. To connect with VisiFI and learn more about the partnership with Prospero America, contact us today.
A thought leader for fintech solutions, VisiFI introduces innovative approaches that enable credit unions across the country to compete more effectively in the ever-changing consumer finance market. The U.S. based company consolidates the unique strengths of three experienced and proven industry leaders, Dedagroup, EPL Inc, and Intech, blending the technology, people and processes to form VisiFI, the pre-eminent credit union service organization (CUSO).
Prospero America Inc.(“PAI”) is a Fintech platform with two products whose purpose is to connect National Merchant and Services brands to existing and prospective customers. The platform is designed to influence customer behavior with the aim of uplifting or transferring spend to those brands, in exchange for relevant merchant-funded incentives. Prospective customers are accessed through a national bank and credit union network of 80M Mastercard and VISA payment cardholders.
National Merchant brands Prospero has worked with include: AutoZone, Banana Republic, ChevronTexaco, CVS, GAP, Longhorn Steakhouse, Lowe’s, Old Navy, Olive Garden, Staples and Whole Foods.
PAI was established in the United States in early 2011. Their initial product, ProsperoSystem, was successfully launched in 2014 within the FI space where payment-card rewards programs were more commonplace. To date, PAI has delivered $250M in incremental sales, has access to 80M Cardholders and $320BN annual spend with $8.9N payment card transactions.
Prospero launched their second product, ProsperoPay, in 2020. ProsperoPay is an innovative gift card payment and merchant-funded rewards’ app and web services solution.