Using debit cards, without the PIN, has rewards. A Missouri bank is offering $25,000 cash and a Florida bank is offering a PT Cruiser as grand prizes in separate VISA Check Card promotions. MO-based Commerce Bank re-launched a promotion this summer to encourage debit cardholders to sign for purchases instead of using a PIN. The “Skip the PIN – and Win!” contest automatically enters the bank’s debit cardholders in a $1,000 weekly drawing and a $25,000 grand-prize drawing each time they use their Commerce VISA Check Card and sign for their purchase rather than entering their PIN. Last year Commerce awarded approximately $86,000 to more than 60 winners and realized a substantial boost in off-line debit card usage. In addition to the current weekly $1,000 prizes and the final $25,000 grand prize, Commerce will award $1,000 daily prizes during the 2001 holiday season. The contest will run through the end of this year. Commerce is using the promotion to educate cardholders about the benefits of skipping the PIN, which include extended warranty, price and purchase protections, special consumer protection rules and back-up authorization limits.
Meanwhile, FL-based BankAtlantic, has launched the “Bank Atlantic Check Card PowerPurchase Sweepstakes”. In addition to the points cardholders earn through the core Check Card Rewards program, which was launched in July 2000, cardholders will now automatically be entered into the BankAtlantic sweepstakes for a chance to win a PT Cruiser . The BankAtlantic sweepstakes promotion is being communicated via radio, outdoor and newspaper advertising throughout the Broward County area. VISA Check Card users earn points and receive an automatic entry into the sweepstakes for each non-PIN purchase transaction made during the 90-day promotional period. Additionally, customers get five automatic entries each time they make a non-PIN purchase at partner reward merchants. The grand prize winners will be drawn on September 15.
Finally, First Data Resources, a top debit card processor, has introduced Debit Rewards. The new debit card program enables debit card issuers to develop, calculate and fulfill a variety of incentive programs for their cardholders, including cash back, rebates, merchant partnerships and travel programs. Debit issuers can assign an individual reward strategy that designates which programs are available to each cardholder, making it highly customizable according to the issuers’ needs. Reward information can be easily communicated to cardholders via their monthly checking account statement.
For more information visit www.bankatlantic.com and www.commercebank.com.