December 11, 2019
Blackhawk Network President and CEO Talbott Roche was among a select few brand leaders, solution providers and keynote speakers to take the stage at Ibotta’s Mobile Innovation Summit recently. Roche and her cohort of speakers presented timely insights about retail, consumer packaged goods (CPGs) and digital media innovations shaping the future of omnichannel marketing and mobile payments.
Roche also had the opportunity to sit down with Mobile Payment Summit producers to discuss Blackhawk Network’s leadership in branded payments. From this informal interview Ibotta created a short video for their “One Big Bet” series.
Here are a few takeaways from Roche’s discussion:
The need to define branded payments. Branded payments are payment products that consumers utilize at a specific retail brand, such as gift cards. Loyalty points, egifts, ecodes and incentives are all popular forms of branded payments.
Branded payments create a deeper connection between brands and consumers. Retailers rely on branded payments to provide additional value to customers, reward loyalty, ensure convenience and create an enriched and personalized shopping experience.
Generation Z is driving the transformation of payments. Younger shoppers value immediacy, personalization and the social nature of mobile payments. Their payment preferences are moving retailers toward broader adoption of enriched payment experiences.
Scaling solutions increases adoption of branded payments. Many merchants are overwhelmed by the complexity of the mobile payments ecosystem, which is why it is critical to scale solutions that grow with businesses.
Branded payments are rapidly becoming an everyday spend method. Though gift cards and egifts are a mainstay of the $360 billion gifting market, more and more consumers are turning to branded payment tools for self-use.
Grouping brands onto a single card could be the future of branded payments. Blackhawk Network is leading payments innovation. For example, Blackhawk’s Happy Cards feature different gift card brands on a single themed card, giving the consumer more choice and a more relevant and convenient payment experience.
For a more complete picture of branded payments and their value as marketing vehicles, check out Roche’s One Big Bet video interview.