JACKSONVILLE, Fla. -- Fidelity National Information Services has announced that its Scorecard rewards and loyalty program in place on more than six million card accounts issued by 1,700 financial institutions, including credit unions, banks and thrifts.
The company reported that 80% of credit cards offer rewards programs. As debit cards quickly become the most common form of payment, financial institutions are adding rewards to their debit card programs, too.
SCE Federal Credit Union recently signed an agreement to add ScoreCard to its 20,000 debit card accounts, FIS reported. Lilia Rojo, director of operations of SCE FCU said that SCE made the addition in part to push stronger debit growth.
"With increased debit card usage, offering rewards on debit cards is a way for us to promote signature transactions over personal identification number (PIN) transactions. Additionally, the program provides an opportunity to encourage cardholders to combine their debit and credit points. We consider this an excellent program to assist us in cross-selling both cards."
Likewise, the company reported that Team One Credit Union in Saginaw, Mich., has been offering ScoreCard rewards on its credit cards since 1993. Konnie Werner, president and chief executive officer of Team One said, "The program's ability to combine points from a family's credit and debit cards is an attractive feature of FIS' platform."
ScoreCard's proven program increases card acquisition, activation and usage of both credit and debit card programs by members. Some financial institutions using ScoreCard report significant increases in the number of active accounts, sales transaction dollars and earnings.
"The ScoreCard rewards program, which was started 16 years ago, has evolved over the years, building a rich history of experience and breadth of knowledge in the industry," said Dennis Driscoll, FIS' vice president of Loyalty Services.
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