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vertical opportunities
SVS: Dynamic Promotions Drive Results
Within the world of dynamic promotions, which leverages significant SVS IT development
and investment over the past seven years—mobile and virtual delivery channels are gaining ground. Mobile and virtual simply help retailers reach their customers where they are. But creating a consistent brand experience for users is paramount, Schatz says.
So is security.
As retailers have expanded their stored value programs to include digital and mobile channels, SVS also has invested heavily in secur- ing those channels. The company
developed proprietary mechanisms to prevent fraudulent use of virtual cards by employing a nonsequen- tial method for account numbers and security algorithms within
the barcode.
“Fraud is a big concern in the digital realm because of the anonymity of the user and there are more players in the value chain that touch the transaction,” Schatz explains. “We have many check- points along the way—thresholds and exceptions—to help partners understand when something could be a sign of fraud. Our clients want to take advantage of these chan- nels, and the security we provide
gives them confidence to be more aggressive as they expand.”
While SVS is helping many global retail partners expand internation- ally, it’s signing on more new business than at any other time in its history. The reason: Retailers that had previously run their gift card platforms in-house don’t have the bandwidth to expand into the mobile, virtual and dynamic promo- tional realms successfully.
“We’ve taken a loyalty platform- agnostic approach and more and more clients are really excited about leveraging what we do on the dynamic promotions side.”