Primax, a premier provider of credit and debit card issuing and merchant acquiring programs, products and services for financial institutions and businesses today announced it has partnered with Cyberlis to help Primax clients grow their payment card portfolios, launch new card products that can successfully compete with larger financial institutions, and offer card products that are differentiated within a saturated marketplace.
Portfolio services offered within the partnership include research and analysis of the current product marketplace, revenue streams, product offerings, pricing, DDA base penetration, cardholder activation and usage, marketing platforms, competitors and new product designs. Key outputs of the partnership include tools for measuring product performance/profitability, models and tracking; recommendations for increasing revenue; product concepts; marketing plans; business cases and product launch plans.
“Often community banks and credit unions lack the resources to manage and grow card portfolios”
“Often community banks and credit unions lack the resources to manage and grow card portfolios," stated Ted Keith, Jr., President and CEO of Primax. "Primax’s mission goes well beyond our role as processor and servicer and extends to a commitment to substantially grow our clients’ card programs. With Cyberlis we address our clients’ challenges by offering the resources and expertise they need to increase market penetration, card activation and usage and to develop effective business plans for their products. Our partnership with Cyberlis is designed to assist our clients with card portfolio planning, implementation or both.”
Said Susan Mylchreest, Executive Director of Cyberlis, “Our staff, which is comprised of experts with the background and experience needed to guide clients on the path to portfolio success, find it gratifying to help Primax clients maximize the potential of their card portfolios. We are excited to work with Primax clients to find and implement the individualized solutions that work for them in the competitive card issuing marketplace.”