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Tuesday, October 5, 2010

11:55 AM - 12:40 PM
Track: Debit Track View Track


Tom Beecher, CEO and President, CARTERA COMMERCE
Doug Rappoport, VP, Product Manager, Rewards Management and Enhancement Services Team, WELLS FARGO

With its acquisition of Wachovia in 2009, Wells Fargo undertook a wholesale revamping of their loyalty strategy to launch a “next-generation” rewards program that combines the best practices and leading technologies of today’s best loyalty programs. The goal of this new strategy was to build loyalty and increase spend among its debit card holders. In addition to rewards infrastructure changes, Wells Fargo focused on leveraging shopping partners- retailers, travel, and other merchants- as a coalition capable of delivering unique value to debit card members. This has created a new economic model for funding rewards points and discounts that is reaping big rewards.

  • How the business case was developed to drive this new major initiative
  • How loyalty shopping with partner merchants changes the economic model for rewards
  • What best practices and technologies were most critical to drive the success of their program
  • How Wells Fargo is creating sustained differentiation with their loyalty program
  • What lessons can be applied to drive loyalty beyond debit cards

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