Posted by Mark J. Miller on July 17, 2014 03:04 PM
Visa has now got its own Innovation Center. It was opened in San Francisco Wednesday to try to bring the company’s software developers, clients, and other tech folks “to jointly develop the next generation of commerce applications," according to the San Francisco Chronicle.
The first product coming out of the Innovation Center is the Visa Checkout mobile payment system, which hopes to give PayPal, Isis and Google Wallet a run for the money, and replaces Visa's V.me brand that was introduced in the US in 2012.
"It's a recognition of the fact that the credit card is becoming a digital card, and innovations are occurring through digital means," said Jim McCarthy, the brand's senior vice president of innovation and strategic partnerships, to the Chronicle. "Basically, we're opening up our network to software developers to use our capabilities and assets, and to help consumers to take advantage of them."Continue reading...
Posted by Shirley Brady on July 7, 2014 06:05 PM
The recent WorldPride event in Toronto marked the first time the event had been held in North America—and served as a testament to platinum sponsor TD Bank Group's acceptance of diversity.
The most valuable brand on Interbrand's Best Canadian Brands report, TD Bank not only sponsored WorldPride 2014, which ran from June 20 to 29 and attracted an estimated two million people across the Greater Toronto Area, but helped the host committee land the event by sponsoring their bid and accompanying them to make their case to InterPride, the event's organizer, in a first for a corporate sponsor.
It also wasn't a one-off commitment. TD is supporting 42 Pride events across North America this year, including signing a multi-year partnership with Boston Pride, all part of its bigger committment to equality and creating an inclusive workplace. "This is our tenth year of supporting Pride events," notes Scott Mullin, the bank's Vice President of Community Relations. "Ten years ago it was seen as pretty edgy for a financial institution."Continue reading...
Posted by Sheila Shayon on June 4, 2014 12:03 PM
“Our financial system is leaving nearly 70 million Americans behind. It’s time for a change.”
That's the opening statement in the latest branded content series from American Express, Spent: Looking For Change, which targets the millions of consumers who eschew traditional banking.
The nearly 40-minute documentary—a first in terms of length and subject for the brand—profiles families and individuals that are "under-banked" or "unbanked" and who may turn to costly services like check-cashing, payday loans, and pawn shops to meet their basic financial needs.
The alarming trend, dubbed "financial exclusion" in the financial services industry, is a hot topic internally that the brand feels "pretty passionately" about, Daniel H. Schulman, group president for enterprise growth at American Express, told the New York Times—hence the decision to run with it as an external topic for a showpiece branded content platform.Continue reading...
Posted by Dale Buss on May 27, 2014 05:12 PM
Canada has been in the news a lot lately, mostly for being a hard nut to crack when it comes to retail. But according to Interbrand's just-released Best Canadian Brands report, other sectors such as financial services have come into their own in the northern marketplace.
Among the top five brands, three are banks, with TD retaining its No. 1 positioning and the Royal Bank of Canada coming in at No. 2. Still, other list-makers among the top 25 brands, including lululemon and WestJet, have become increasingly savvy about finding ways to extend their value both in Canada and abroad.
“We’re trying to create a bit of a call to action for brands in Canada,” Carolyn Ray, managing director of Interbrand Canada, told brandchannel. “We want brands to ‘step out of line’ and do things differently, take the opportunity to reassess whether they’re getting the most they can out of what they’re doing, and their investments in their brands.”
Scotiabank is one most-valuable brand that has needed no such prompting, Ray added. The financial-services giant grew its brand value by 94 percent since 2012, to C$7.7 billion in the latest Interbrand ranking, in part by “becoming increasingly customer-centric,” she said. “It’s become almost like an obsession” with the brand as Scotiabank “uses that lens to filter all their marketing decisions.”Continue reading...
Posted by Mark J. Miller on March 10, 2014 06:42 PM
As more information and new reports of data hacks continue to pour in, striking major retailers like Target, Neiman Marcus and others, the US is becoming increasingly aware of the many dangers associated with using debit and credit cards
MasterCard and Visa, whose businesses are eroded every time a consumer’s information is stolen, have decided to take action and are leading an effort to form a “cross-industry group to improve security for card transactions and press US retailers and banks to meet a 2015 deadline to adopt technology that would make it safer to pay with plastic,” Reuters reports.
Other members of the group include credit unions, banks, retailers, and industry trade associations, which are initially pushing for the implementation of technology already used in Europe and Asia—EMV cards—which “store information on computer chips rather than on traditional magnetic strips, making them harder to counterfeit,” according to the wire service.Continue reading...
Posted by Alexandra Meyer on January 31, 2014 06:39 PM
The Royal Bank of Canada, the largest financial institution in the nation, is expanding its mobile commerce solutions with the ability to send Interac E-transfers through Facebook.
During Canada's FFWD Advertising and Marketing Week’s panel on winning in a mobile-first world, Jeremy Bornstein, Head of Emerging Payments for RBC, announced the launch of Interac E-transfers through Facebook Canada's messenger. The launch signals RBC’s commitment to fulfilling its mission of becoming "Canada’s most innovative bank."
The feature initially launched on the company's iPad app in Dec. 2013 and is now accessible through its iPhone app, as well. According to Bornstein, one third of RBC bankers perform banking transactions exclusively though mobile.Continue reading...
lather, rinse, rebrand
Posted by Alicia Ciccone on January 14, 2014 10:51 AM
In today's digital world, consumers can complete transactions in nearly any setting: in a store, restaurant, on the go, and relatively in the middle of nowhere. Thanks to technology, making and accepting payments has never been easier to access, which is the defining principle behind the launch of Visa's new brand identity.
As it prepares to venture to Sochi next month as a major partner of the Winter Olympic Games, Visa has embraced both the past and present in introducing its new tagline, "Everywhere You Want to Be." The 55-year-old digital payments company also introduced a refreshed logo, all of which will debut in the US in Visa's Sochi ad campaign.
The company has drawn on its past tagline, "It's everywhere you want to be," and spun it forward, as "everywhere" now takes on new meaning in a mobile, digital world.Continue reading...
Posted by Mark J. Miller on November 11, 2013 02:18 PM
Financial services brands and sports go hand in hand (case in point: the Barclays Premier League). So it comes as no surprise that according to the most recent Sponsorium report, which tracks sponsorship and community investment dollars across the globe, financial companies this year have seen an average of “9% higher requested amounts for philanthropic donations than non-Financial industry brands” — and that the majority of those sponsorship requests are for sports.
According to the report, the “Financial industry’s sponsorship activity is focused primarily in Sports,” which makes up 52% of the sponsorship dollars the Financial industry spends. Arts came in second when it came to the industry’s sponsorship dollars, making that category “roughly 30% more popular than their global average for all industries.” When it comes to donations between $10,000 and $500,000, banks and other “financial brands are both asked for and are making larger-sized donations/grants than brands from other industries.”Continue reading...