Vesdia Expands Merchant-Funded Rewards Network

It includes a multi-channel merchant solution which grows clients’ membership, increases cardholder purchases, and maximizes cardholder loyalty. Vesdia’s merchant network encompasses:

• 60+ national brick & mortar, catalog and service providers with over 150,000 locations
• 100,000+ grocery and drug store locations
• 8,500+ restaurants across the nation
• 200+ gift cards redeemable at top retailers
• 600+ top name online merchants
• Thousands of local merchants

In addition to the merchant coalition available to all Vesdia clients, Vesdia now also manages reward relationships with additional national merchants such as CVS/pharmacy and JoS. A. Bank Clothiers. These industry-leading relationships serve to differentiate cardholder programs resulting in new customers, increased sales, and maximized card performance.

“As the pioneer in developing a merchant-funded rewards network, we are pleased to continue to add leading multi-channel merchants to provide the premier loyalty solution to our clients,” said Jim Douglass, Chief Executive Officer, Vesdia. “Vesdia’s combination of patent-protected technology, robust online mall, and premier merchant network is unmatched in the marketplace.”

“By expanding the number and quality of merchants seeking to incorporate a multi-channel approach to their loyalty programs, Vesdia better enables our OneCause Visa® Rewards credit card holders to contribute more to their favorite cause with their everyday purchases,” said Stephen Avalone, President of CauseLoyalty, a RakutenUSA company. “This helps OneCause to widen the gap from its competitors.”

According to a report by the Aite Group, a leading independent research and advisory firm, it is estimated that $64 billion in purchases will be made at U.S. retailers that participate in merchant-funded financial institution reward programs by 2010. “Successful loyalty programs such as Vesdia’s which both clearly differentiate issuers in the marketplace and maximize a cardholder’s perceived value will become increasingly financially important to both issuers and their customers,” remarked Adil Moussa, Analyst, Aite Group. “For example, Vesdia enabled a notable issuer to lower loyalty program costs by over 25% while simultaneously enhancing cardholders’ earning power – a winning value proposition for all constituents.”