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|English to Portuguese translations [PRO]|
Bus/Financial - Finance (general) / cartão de crédito
|English term or phrase: top-of-wallet status|
|CO-OP helps you strike a balance to achieve top-of-wallet status|
RECURRING PAYMENTS AND ONLINE BILL PAYMENTS: THE KEY TO BECOMING “TOP OF WALLET”
As consumers consolidate card usage following the global financial crisis, recurring payments (RP) and card-based online bill payments (OBP) have grown in popularity, becoming key indicators of “top of wallet” behavior. For issuers, this means an opportunity to tap into greater spend potential and lower spend attrition rates, both of which correlate highly with RP/OBP activity. Research also shows a high correlation between income level, education and RP/OBP usage, as well as greater acceptance of these payment methods among Generations X and Y. This gives issuers an ideal target for marketing efforts; however, to be successful, such efforts must be carefully timed to the correct stage of the cardholder lifecycle. By making RP and OBP messaging a high priority, remaining aware of the timing and channel of each message, and continuing to evaluate their marketing budgets, issuers can take advantage of this changing landscape and the renewed consumer focus on personal finances.
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