Tuesday, January 24 2012 18:57
Unibank introduces new loyalty program "Magnis"
ArmInfo. Following introduction of its own processing center, Unibank, one of the biggest Armenian banks launched a series of card programs to promote retail banking through innovative loyalty programs. Recently the bank has developed a new special loyalty program "Magnis" ("Magnet'). Samvel Vardanyan, Customers Relationships Director of Unibank, tells about the program in an interview with ArmInfo.
Presently, many banks announce various card projects and discount programs. What are the peculiarities of your new loyalty program?
Unibank offers its customers more advantages through its loyalty program "Magnis". It allows the customers to considerably reduce their daily expenses. The Magnis program card performs the functions of banking, bonus and discount cards. For the cardholders the Bank has also set a high interest rate on the positive balance of the card account. Bonuses can be used as money i.e. 1 bonus is equal to 1 AMD.
The cardholders get an opportunity to participate in drawing of precious prizes. Moreover, for the first time in Armenia, a cardholder can transfer his bonuses to the account of another participant in the program.
One more peculiarity of the program is the pool of partners, which include stores, hotels, beauty salons, sport clubs, restaurants, medical establishments, etc., which are focused on target groups of various income levels.
The advantage of these cards under the program is that they are multifunctional and multi-currency. It allows using one card in the broad network of partner- companies.
Is the program interesting to your partners? What about the geographic coverage of the program?
The partner-network of "Magnis" program comprises around 80 companies and operates in Yerevan and in the regions. A special sticker with the "Magnis" logotype will be available either on the entrance or on the cashier desk of a company. Involvement in such a large-scale loyalty program is very convenient and favorable to both the customers and partners. Customers make favorable purchases, while partners increase profits through turnover enhancement.
Big investments and relevant equipment are needed to implement a full-fledged loyalty program.
Therefore, it is desirable for retailers to combine efforts to increase customer loyalty and implement the program in cooperation with banks and other companies engaged in various sectors.
How to join "Magnis"?
All the cardholders of the Bank have automatically become the participants in the "Magnis" program and now can receive discounts while paying for the goods at the trade outlets of Unibank's partners. As soon as the bonus option is available for the customers, the Bank will exchange the common bankcards for multifunctional chip cards free of charge. If a customer happens to lack the card of the program while paying at the trade outlets of Unibank's partners, a temporary nameless card will be given to him, and it will be necessary to exchange it for a multifunctional chip card within 2 months.
If there are bonuses on the temporary card, they will be added to the main card. Thus, the customer will not lose his bonuses or the discounts from the first purchase in the trade outlets of the program partners. Moreover, all the participants in the "Magnis" program will be provided annual service of Visa Electron cards with AMD accounts.
For participants in the program the bank has developed a special website: www.magnis.am. Cardholders will get access to a personal profile protected with a password and manage their card accounts through the service Internet Bank- Customer. On his profile a customer will receive full information on his participation in the program, follow the history of payments, bonuses, make operations requiring authorization, for instance, filling of forms for participation in the program at the invitation of a friend, or to transfer bonuses to another participant in the program.
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