Troy, MI., and Broomall, PA., Nov. 11, 2020 (GLOBE NEWSWIRE) -- North American Bancard (NAB), a progressive payment technology company, is pleased to announce a partnership with Factor4, LLC, a leading provider of gift card and loyalty program solutions. The partnership helps merchants to capitalize on the growing rate of gift card usage, the digital transition of the gift card market, and the increasing demand for loyalty programs.
Some projections indicate global digital gift card sales will exceed $690 billion in 2024. According to a recent survey, almost half of shoppers would join a loyalty program if they could use points earned to pay for goods or services. Factor4’s gift card and loyalty programs have experienced significant growth as a result of Covid-19. Their digital, SMS and email capabilities enable merchants to deliver gift cards to recipients, whether their physical stores are open or closed, and comply with social distancing practices.
"NAB always strives to offer world-class solutions to improve the payment experience for merchants and their customers," said Preet Patel, vice president of product for North American Bancard. "The partnership with Factor4's gift card and loyalty app will allow us to offer enterprise-level solutions to small business owners that will add value to existing customers and attract new ones.”
Through this partnership, North American Bancard partners and merchants will be able to offer customers the ability to pay with a gift card through a custom branded application, have a full omnichannel gift card and loyalty solution that combines in-store, online and mobile interactions, and seamlessly integrates with many point-of-sale devices.
Factor4 CEO, Dan Battista, said, “We are excited to partner with NAB and to provide their merchants with a robust solution that generates new revenue streams, reduces attrition, attracts new customers, and motivates customers to make repeat purchases. By integrating Factor4’s gift card and loyalty solution, NAB now provides merchants with every payments tool they need to run their businesses effectively.”
This offering is currently available to existing North American Bancard partners via the Factor4 app, and will soon be available as a direct integration with NAB’s proprietary payments app, Payanywhere.
About North American Bancard
North American Bancard is re-imagining the payment experience. As a leading payment technology innovator, NAB has a diversified product platform that provides a modern end-to-end infrastructure to enable globally preferred payment types. NAB's superior solutions deliver seamless payment experiences in mobile, online, and in-store environments. Serving hundreds of thousands of businesses and processing in excess of $45 billion in electronic payments annually, NAB delivers functional and frictionless solutions for our evolving merchant economy. For more information, please visit www.northamericanbancard.com.
Factor4, LLC was formed by four payment service experts to provide the premier gift card and loyalty solution. The founders’ strength comes from their combined industry expertise and extensive network. Factor4’s strength is from its best in class proprietary platform, technology, integrations and team. The RewardOS API provides effortless, feature-rich integration to a wide range of point-of-sale devices. Factor4 boasts the most integrations of all gift and loyalty providers. Factor4 serves over 14,000 customers and growing. For more information, visit www.factor4gift.com.
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Source: Company press release.