Alliance Data inks deal with Boscov’s store to offer consumer credit card services
Alliance Data's Columbus, an Ohio-based card services provider, has signed a new deal with US-based Boscov's Department Store
Alliance Data’s Columbus, an Ohio-based card services provider, has signed a new deal with US-based Boscov’s Department Store to offer private label credit card services.
Under the deal, Alliance Data’s marketing tools will offer custom analytics and insights for Boscov, which will increase cardholder’s engagement and increase sales.
As a part of this, Boscov’s will leverage Alliance Data MyLoyalty app capabilities to support individualized customer engagement.
Alliance Data in a statement said that the app will be customized for a brand-immersive experience, which will provide users the ability to apply, earn and connect with Boscov’s.
In addition, the card service provider will also assist in Boscov’s card program to offer several benefits such as a first-purchase discount, exclusive savings and special events.
For every purchase through the multi-tiered Boscov’s B Rewarded program, consumers will be rewarded with rewards point certificates that are redeemable on future purchases, Alliance Data said.
Alliance Data has signed a deal to buy the existing Boscov’s portfolio of private label credit card accounts, which is subject to customary closing conditions.
Purchase of the portfolio, of nearly $200m, is slated to be closed in the first quarter of this year.
Boscov’s senior executive vice president and CFO Toni Miller said: “Through this new partnership, we look forward to leveraging Alliance Data’s customer-centric retail heritage and proven credit and marketing tools to build even greater customer loyalty.”
Alliance Data president of card services business Melisa Miller said: “Together we will elevate their outstanding credit program by enriching the value proposition to strengthen meaningful customer relationships, grow sales and extend brand loyalty.”