Payment Card News

TrueValue Promotion

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VISA U.S.A. and TruServ Corp. have launched a promotion that rewards cardholders with a 25% discount on ‘True Value’ paint. The promotion, which runs through October, is part of a one year marketing alliance signed earlier this month. In November VISA will launch a promotion to offer a free trip to the Super Bowl. TruServ owns the ‘True Value’, ‘ServiStar’ and the ‘Coast To Coast’ brands.

FULL STORY:
Visa U.S.A. and TruServ Corporation (TruServ), Chicago, announced that they have established an integrated marketing alliance to leverge growth opportunities in the $133 billion hardware/home improvement market.

The one-year partnership, effective immediately, will result in a variety of advertising and marketing activities including the development of point-of-purchases materials and signage. The two companies also will collaborate on a series of value-added offers for consumers who use their Visa cards at any of TruServ’s participating hardware stores, which comprise the True Value, ServiStar Coast to Coast brands.

The initial promotion, launching this month and continuing through October 1998, will reward consumers with a 25 percent discount off purchases of True Value paint when they use their Visa cards. A November promotion tied to Visa’s signature sponsorship of the NFL will give consumers a chance to win a trip to Super Bowl XXXIII in Miami when they make a Visa purchase at participating stores. No purchase is necessary to participate in the sweepstakes*.

Additional promotions are being developed and will be announced during the next 12 months. During each promotional period, TruServ will feature Visa in its advertising, in-store signage and marketing collateral.

“Wea re extremely pleased to join forces with a leader in the hardware/home imprevement industry,” said Bruce McElhinney, senior vice president, market development and acceptance, Visa U.S.A. “Combining Visa’s marketing efforts with TruServ will benefit from our promotions, which in Visa’s experience, have proven to be effective business builders.”

“Partnering with Visa is one of the easiest decisions we have had to make,” said Richard Brayer, vice president for the TruServ Corporation. “The strong brand equity that Visa enjoys will allow us to provide our customers with exciting promotions and ultimately add value to their purchases.”

Once the partnership and promotions are underway, both parties will explore opportunities to develop Visa corporate card and small-business card programs.

TruServ Corporation is the world’s largest member-owned wholesale hardware cooperative with first-year wholesale pro forma sales of $4.2 billion and estimated Member retail sales of $15 billion. The TruServ cooperative includes more than 10,000 independent retailers worldwide operating under the store identities of True Value, ServiStar Hardware, Lumber Yards, and Home Centers, Coast To Coast Hardware, Coast To Coast Home & Auto, Grand Rental Station, Taylor Rental Center, Home & Garden Showplace and Induserve Supply. For more information about TruServ Coporation, visit www.truserv.com.

Visa, the leading card brand and the largest consumer payment system worldwide, is a payment solutions provider for consumers, merchants and government. It plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions, their cardholders, and the global economy. Visa is the only consumer payment system to facilitate more than $1 trillion worth of purchases of goods and services in a fiscal year. Visa’s nearly 600 million cards are accepted at more than 15 million worldwide locations, including more than 400,000 ATMs in the Visa/PLUS Global ATM Network. Visa’s Internet address is www.visa.com

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