Co-branded-partnerships in the credit card sector aim to increase loyalty, attract new members, lower acquisition costs and help retain top-of-mind awareness, all at once and all of those factors can add profits to the bottom line. According to MasterCard, co-branded credit cards comprise approximately 50 per cent of all credit-card spending and co-branded cardholders outspend their counterparts by approximately $4,900 (around Dh17,998) per year.
But today’s consumers are spoilt for choice as they seek products that not only simplify their lives and treat them well but also express their individuality. This is where co-branding moves into an emotional arena, targeting hobbies and passions. Some of the latest themed credit cards around the globe talk to fans of football clubs, cartoons and video games, often in the fans’ own language.
Cars and football
In March, First Gulf Bank launched the first Ferrari credit card in the Middle East and Africa in partnership with Visa. Its two categories, Signature and Infinite, offer a variety of privileges and services to Ferrari fans. In a UAE first, the Ferrari Signature card gives holders the chance to win prizes such as race invitations and other experiences. They are also offered special deals on the official Ferrari webstore, and free membership to the Scuderia Ferrari Online community.
FGB’s new partnership with British Premiership Manchester City Football Club makes it the team’s official affinity credit-card bank partner for the next three years. The card addresses fans with deals on merchandise, exclusive tours of the Etihad Stadium, visits to training sessions, complimentary coaching for children by official coaches and discounts at the official Manchester City School of Football in Abu Dhabi.
Concurrently, Emirates NBD’s agreement with Manchester United Football Club to be its exclusive financial partner in the UAE will run for five years.
Global players in sports-themed credit cards are aplenty. One of the most successful examples is that of Scotiabank, the official bank of Canada’s National Hockey League. Its new line of payment cards features 30 team logos, allowing customers to choose the team they would like to support through everyday transactions. In doing so, the bank establishes itself as a representative of Canadian values and creates the impression of oneness with customers.
In the UK, MBNA is the single largest issuer of football-themed credit cards with products for Rangers, West Ham United, Aston Villa, Tottenham Hotspur, Manchester United, Liverpool FC, Chelsea and Arsenal fans. Besides working in the same way as ordinary credit cards, these also reward dedicated fans.
Games and cartoons
Angry Birds is the most downloaded game of all time and one of the fastest-growing consumer brands in the world today. The company responsible is all things except angry in the wake of a successful global marketing and merchandising strategy. After rolling out the iconic imagery of the game on apparel and amusement parks, Rovio is now offering prepaid debit cards in a co-branding partnership with California-based Kaiku.
Widespread appeal is what Disney Visa Cards also cashes on. Fans-turned-customers are rewarded with unforgettable experiences such as meet-and-greet and photo sessions with Disney characters and discounts on merchandise and theme park tickets. Similarly, the perks on the Universal Studios’ co-branded American Express Card are as valuable as the rewards on offer.
Online vendor Card.com is currently offering Star Trek-themed prepaid Visa debit cards with no minimum balance, no fees for late charges overdraft or cheque cashing, and backed with 24x7x365 live support. For passionate fans, the cards feature a series of themes — from Captain Kirk down through the crew of the various different series.
However, the most extraordinary of emotion-packed credit cards has to be the twin-set from Hong Kong’s Dah Sing Bank. Its Hello Kitty and Dear Daniel Love Letter Credit Card series features an unusual paired-up black face design, featuring the two popular characters. Customers have to join the two to read the romantic words that Dear Daniel writes to Hello Kitty.
