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Cardlytics CEO Scott Grimes Addresses Chicago Fed’s 2009 Payments Conference
– Decoupled debit pioneer discusses the “perfect storm” for payments innovation -
ATLANTA, June 8, 2009 – Scott Grimes, CEO and founder of Cardlytics, a provider of targeted, merchant-funded card-based rewards technology, spoke on payments innovation at the 2009 Payments Conference at the Federal Reserve Bank of Chicago.
The session, titled: "Emerging Payments Media," addressed the different models and technologies of emerging forms of payments, along with the impact to legacy payment systems. Grimes discussed how the rise in debit card transactions, the increase in online consumers, an increase in services for the under-banked and new, disruptive technologies are leading to greater innovation in the payments industry. Grimes also stated that rewards continue to increase in importance, especially as financial institutions attempt to move customers to new payment forms.
"Payments innovation is only part of the equation," said Grimes. "The next step is creating meaningful, targeted rewards that drive consumers to these new payment forms – and figuring out who will pay for the rewards an d how to measure their effectiveness."
Grimes, a former Capital One senior vice president and one of the inventors of decoupled debit, founded Cardlytics in 2008. The company’s platform is offered to financial institutions at no cost and Cardlytics’ merchant partners pay for rewards. This innovative approach to rewards enables banks to nearly double their income from debit card account holders. The Cardlytics platform also enables a financial institution to more effectively cross-sell by analyzing customer purchase behavior with regard to financial products.
About Cardlytics
Through a highly-relevant, "market-of-one" approach, Cardlytics provides banks with a new way to provide rich rewards to customers by providing targeted, appropriate merchant-funded offers based on their individual purchase behavior, helping consumers realize savings of hundreds of dollars per year on the products they purchase every day. Cardlytics is redefining debit rewards programs through its multi-channel platform that can extend offers to bank customers through the breadth of the bank’s electronic channels including online banking, SMS, e-mail, mobile, online-mall and social networks. For more information about Cardlytics, visit www.cardlytics.com.
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Contact:
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| Alex Shorter |
| For Cardlytics |
| 678-781-7207 |
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| Andy Payment |
| For Cardlytics |
| 678-781-7222 |
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