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Don’t Apologize for E-Statements. Gloat!

Written by Jeff Falk from the Prepaid Department · August 17, 2009
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Far too many issuers ask forgiveness for e-statements. They say they understand the inconvenience and count on some semblance of altruism as they explain the cost- and planet-saving benefits to cardholders who are much more concerned about No. 1.

What they are missing is the chance to say, “Hey, you’re gonna love these statements, and here’s why!”

Consumers who love their paper statements tend to forget their main drawback – outdated information.

Particularly in the world of prepaid, paper statements are woefully out-of-date by the time they reach the cardholder.

E-statements and their “right now” cohorts – mobile banking, IVR, live agents and text messaging – provide cardholders with real-time access to their account information.

To help your members “get it,” put them in a likely scenario by painting a picture of how real-time information can be a major perk in their everyday lives:

Standing in line at Best Buy and want to know how much is left on your prepaid card? Text an agent and find out.

Got your paycheck today and want to make sure it was deposited to your reloadable card? Hop online and check.

Using everyday examples to communicate the value of real-time access refocuses the conversation, lessening the temptation to apologize.

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