Market Problem:
In the promotional marketing space, rebates are a long-standing tool for acquiring new customers and incentivizing action without the full expense of discounts. Rebate VISA prepaid cards became the reward of choice for many manufacturers and service companies in the 2000s, but as customers adopted virtual payments, they began to cause friction in the customer experience.
Promoters were interested in virtualizing this experience, but the virtual rebate cards in the market provided a poor, slow, and nonbranded experience for users. Most were issued by legacy banks with inflexible technology platforms.
YA’s customers needed a solution that was just as secure as these other options but provided a unified user experience within their promotional website.
Who’s it for:
Promotional marketers at Fortune 1000 companies and their consumers
What we did:
To build a seamless virtual card experience, we partnered with the leading prepaid card bank (Meta Bank) and completely reimagined the experience for a rebate consumer (other options were targeting additional use cases). Because YA verifies a user’s identity, we were able to eliminate many of the steps required by the bank’s compliance department.
YA’s virtual rebate card product was incredibly simple: once the user was verified in our fraud-protected rebate process, we would instantly create and display a branded card specifically for the user using a series of APIs and connected interfaces within the customer’s rebate website. Within seconds of a consumer submitting their rebate, they could use the rebate card, including in-store to drive rebate dollars directly back to the retailer.
Success metrics ($25m company):
- $1m revenue preserved in at-risk revenue and an additional $1m revenue from other clients in 12 months
- Rapid deployment for stunt marketing event for Bud Light after the 2018 Super Bowl
- <1 second from submission to distribution of a card versus hours or days for competing solutions