Posted on 11/12/2013 at 08:41
Wirecard and cadooz bring joint co-branded prepaid card product to the market
Wirecard Card Solutions Ltd., a major European prepaid card issuer and company of the Wirecard Group, has partnered with cadooz GmbH, a division of Euronet Worldwide, Inc. (NASDAQ: EEFT)
The Hamburg-based company is one of the leading full-service providers of gift cards, premium awards, and incentive solutions in German-speaking countries.
The cooperation includes the issuance of two Maestro prepaid card products in different versions: “cadoozCard” and “cadoozCard plus”. Both cards can be used as a reward and recognition tool for employee incentives. The issuance of both cards recently started in Germany, and the program will be swiftly expanded to additional European countries.
Companies wanting to reward employees and enhance long-term employee loyalty have two choices to offer their employees: The cadoozCard is a prepaid card which can be used within a network of selected shopping partners. The cadoozCard plus offers extended flexibility and can be used at every food retailer, discounter and gas station that accepts Maestro. Corporations can co-brand or fully personalize either version of the cadoozCard.
Volker Patzak, Vice President Business Development for cadooz GmbH, said, “Wirecard is a leading issuer of innovative prepaid cards. We offer corporate customers a unique, flexible instrument to enhance employee loyalty with our various card versions – which meet all of the eMoney regulatory requirements. The Maestro function ensures customers can use a tight network of shopping partners.”
“With our many years of experience, we see enormous potential in co-branding products,” said Klaus Kröger, Managing Director for Wirecard Card Solutions. “In addition, card products in any form are in greater demand than ever, and are excellently suited for customer and employee loyalty programs. Therefore, we are very pleased to have implemented this project with cadooz.”
More than 3,000 companies across all industries are already using the innovative concepts from cadooz for sales promotions, as marketing tools, or employee incentives. The new cards issued by Wirecard expand the cadooz product range and open additional sales channels.