Credit Card 2.0 and What it Means for Marketers

Plastic is everywhere. It holds our groceries, picks up our food, and sits in our wallets. What’s more, there’s an overabundance of it when you consider that the average credit card holder has 3.5 cards. But what would a problem be without technological innovation?

Imagine blurring the line between online and offline purchases. You’re given a card that handles not only your credit and debit purchases, but your daily deal coupons, frequent customer discounts, and gift cards. One notable example is CardSpring, a company that invites developers to build apps that companies can integrate into their consumers credit cards- all of which is made possible through the power of the cloud.

Innovation of this kind is always exciting for marketers as we scrutinize the details and figure out how to reap the highest benefits. In this case, we will be able to connect the online to the offline consumer, giving us insight into the whole person, not just one side. By whole person, I mean companies will have the ability to detect the minute details of purchase behavior right down to location. Companies can even target customers who are using competing services based on the person’s interaction with the card. Competitors can see reviews made by the customer and online social activity depending on how much information he or she is willing to surrender. Every wallet just got a little lighter.


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