Open-loop prepaid card programs can give organizations a flexible way to combine payments, rewards, and loyalty initiatives within a single product. For community-focused programs, customized prepaid cards can also provide a tool for encouraging consumers to support independent businesses while strengthening connections between merchants and their local customers.
Obsidian’s Local First Card program demonstrates how on-demand card production can support this model. Through its partnership with Arroweye Solutions, Obsidian can produce highly customized cards and accompanying materials without maintaining large inventories, allowing individual communities to offer prepaid card programs tailored to their local markets.
Arroweye Solutions, a leading card marketing and production firm, has been selected by Obsidian to produce private-label, open-loop prepaid cards for its Local First Card program, which encourages consumers to shop local in their home community. Obsidian will leverage Arroweye’s patented, Digital On-Demand card production platform to produce highly-customized cards and materials and put personalized cards in customers’ hands in as little as 48 hours.
“Arroweye’s Digital On-Demand card production technology is unmatched in the industry,” said Render Dahiya, Arroweye CEO. “Our patented card-issuing platform gives organizations like Obsidian access to an unlimited number of dynamic imaging and messaging options for cards and carriers, while eliminating the hassle and cost of perishable inventory.”
“Each Local First card is a fully-customized program that allows consumers to get deals, earn points and give back to their local community,” said Travis Priest, Obsidian CEO. “Arroweye’s Digital On-Demand solution is the only card production method that allows Obsidian to offer a turnkey program and deliver an infinite number of custom cards for any community at any time.”
The Obsidian Local First open-loop prepaid card program is active within local communities and business affiliates across the U.S. Obsidian launched the Local First Card program to support and help local independent businesses leverage reward programs, automate loyalty and deliver high-quality marketing.
The combination of open-loop prepaid card programs and digital on-demand production provides organizations with greater flexibility to create customized payment and loyalty products. Faster card production and extensive personalization can make it easier to launch programs for individual communities without the costs and logistical challenges associated with maintaining preprinted card inventory.
For Obsidian, the partnership with Arroweye supports the broader goals of the Local First Card by connecting payments, rewards, and community engagement. The model demonstrates how prepaid technology can be used not only as a payment method but also as a platform for supporting local businesses and encouraging customer loyalty.
About Arroweye
Arroweye is the only single-source provider of Digital On-Demand card marketing and production solutions for the credit, debit, gift and prepaid card industries. The company’s patented technology creates a more efficient and cost-effective model for card marketers and card issuers, giving them a highly customizable solution to increase speed to market, adoption rates and profitability. Founded in 2000, Arroweye’s solution is approved by Visa, MasterCard, American Express and Discover, and has driven the company’s growth as one of the top fintech companies serving banks, credit unions and retailers. For more information, visit www.arroweye.com.