Credit BIN sponsorship
Use cases
4min
Credit BIN sponsorship gives you multiple ways to provide payment cards to your customers and users:
- Co-brand: Partner with a specific brand to issue a credit card. Your customers earn special rewards or benefits with that brand when they use this card, enhancing their loyalty to both you and the brand.
- Loyalty program: Issue a card that allows your customers to earn points or rewards with each purchase. These points can be redeemed for discounts or free items from your store or service, encouraging repeat business.
- Rewards/cashback: Offer a card that gives your customers a percentage of their money back as ‘cashback’ or ‘rewards’ for each purchase. This is like giving your customers a small discount every time they buy something, incentivizing them to spend more.
- Family spending: Provide a card that parents can give to their kids to teach them about money and budgeting. Parents can control the card’s balance and monitor spending, promoting responsible financial habits while increasing your customer base.
- Commercial expense: Provide a card that businesses can use to manage their expenses. This card allows companies to track and control their spending in real time, making it easier to manage budgets and cash flow.
- Small business expense: Offer a card specifically designed for small businesses. This card helps small business owners manage their expenses, track spending, and even earn rewards, all while building credit for their business.
- T&E (travel and expense): Issue a card that is specifically designed for covering travel and related expenses. This card allows businesses to easily manage and track travel expenses, making it easier for them to budget for business trips.
- Supplier payment: Provide a card that businesses can use to pay their suppliers. This card simplifies the payment process, provides more transparency in transactions, and can even offer rewards for the business.
- Credit-builder card programs: Offer a card program designed to help individuals with no credit or poor credit build or improve their credit score. The cardholder makes purchases and pays off their balance, demonstrating responsible credit use, which is reported to credit bureaus to help improve their credit score.
- Asset-backed: Provide a card that is secured by an asset, such as a savings account. This card allows individuals who may not qualify for a traditional credit card to still have access to a credit line. The credit limit is typically the amount in the securing account, reducing risk for you as the sponsor.
- Private Label Purchasing: Offer a card that is branded for a specific retailer or group of retailers. Customers using this card for their purchases can enjoy exclusive benefits and rewards at these specific retailers, encouraging loyalty and repeat business.
- Business Purchasing: Provide a card that businesses can use to manage their purchasing needs. This card simplifies the procurement process, provides detailed transaction data, and can help businesses negotiate better terms with suppliers based on their spending patterns.
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Updated 15 Oct 2024
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