Debit/credit card loyalty program designed to build consumer confidence, engagement.

• Position: New Products

A new loyalty program called ReadyLift has been introduced by First Data, Denver, Colo. This integrated solution encompasses four components:

1. A base program.

2. Merchant-funded rewards.

3. Rewards fulfillment.

4. Marketing and communications strategy.

A base program, the foundation for a successful loyalty program, provides bank-funded rewards for transactional and. other profitable consumer behavior--specifically debit or credit card usage but eventually other banking activity, such as loan origination and bill-pay usage. Through earning structures and bonuses you can provide an incentive for the most profitable behavior, such as signature versus PTN debit. The vendor provides what it terms a flexible and versatile rewards processing system--one that can be customized to meet an institution's retail objectives, vary loyalty offerings by segment, establish an earning structure by transaction type and appeal to any cardholder segment that you choose

Merchant funded rewards are overlaid to the base program to speed up rewards earnings. This component motivates your customers to participate in the program by using more compelling and valuable rewards from national, regional and local retailers. Retailers add value to your program by offering consumers extraordinary earning opportunities while lowering program costs for you.

The product's reward fulfillment capabilities turns customers' earnings into timely and relevant rewards...