First Data Corporation, a global leader in electronic commerce and payment processing, today announced that Bank of America Merchant Services will offer the First Data OfferWise solution to all eligible merchants' 650,000 U.S. locations through 2Go Media's iDeals Marketing Platform.
2Go Media has integrated the First Data OfferWise solution into its iDeals Marketing Platform bringing offer creation, distribution and redemption full circle for merchants of any size.
The integration of the First Data OfferWise solution through an API developed by CardSpring will allow Bank of America Merchant Services customers to electronically attach offers such as deals, eCoupons and loyalty programs to one or more of a consumer's payment cards or mobile wallets to enable automatic redemption of the offer at the point of sale. The iDeals Marketing Platform publishes these offers to leading deals sites, local shopping directories and search engines to reach millions of consumers.
"First Data continues to bring innovations to the marketplace that enable our industry partners to create a universal commerce experience for their customers," said Dom Morea, SVP and division manager, Advanced Solutions and Innovation at First Data. "The OfferWise solution will allow Bank of America Merchant Services clients to leverage the most advanced card-linked redemption technology available today through the convenience of 2Go Media's marketing platform and generate incentive programs tailored specifically for their business."
Consumers will also benefit by seeing more offers from local businesses on the big daily deals sites and other coupon distribution sites. The iDeals Marketing Platform automatically distributes a merchant's offers to just the right market, reaching customers on their smartphones, tablets and PCs. Shoppers will enjoy the choice and convenience card-linked offers provide. Because consumers opt in to offers that are stored right on their payment card, there is no need for printouts —the customer simply swipes the card at the merchant's point of sale and the offer is redeemed.
"In addition to providing prepaid offers, we're introducing a new kind of card-linked service which frees merchants and their customers from the restrictive pay in advance model," said Trevor Rubel, executive vice president, Strategy and Emerging Products at Bank of America Merchant Services. "Now a customer can lock in any discount a store is offering on their payment card. This allows merchants to promote performance-based offers that don't have a set dollar amount. The customer walks in the store and buys with confidence because the discount is deducted automatically when the card is swiped."
More on First Data's point of view on the importance of measuring the impact of online promotions can be found in the recent white paper Going Beyond Redemption: Closing the Loop with Card-Linked Offers.