Thad Peterson of Maritz has just started a blog called Banking on Customers. His first post covers the customer experience at the moment of payment, The Magic Moment as Thad puts it. Thad is at the forefront of a disruptive evolution in the card loyalty industry. As most readers of my blog know, bank loyalty programmes are almost entirely funded through interchange. As pressure on interchange grows, loyalty practitioners like Maritz will adapt to a new world, making do with much less interchange revenue to fund credit card points and cash back programs, and, in parallel, looking at merchants as the true customers since they are the ones that actually fund everything. Thad’s blog will be a valuable place to watch this evolution unfold.
Readers of my blog know that I am a big fan of Adam Levitin’s work (here are prior posts on Adam’s work). Well, Adam has recently written a series of posts on the Credit Slips blog. His article titled “Who’s Paying for Your Rewards Points?” is characteristic Adam Levitin. It is great to see him presenting his ideas in a blog format which, if he keeps it up, will allow us more frequent access to his insight on topical subjects. Hey Adam, when are you going to start your own blog?