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Customer Motivation
In response to the logical question, “Why would customers magically infuse their credit cards with PowerPennies?”
The answer lies in the fact that Americans are the most charitable people on earth. Each year 90% of us make donations to charitable organizations.
In light of our propensity to be charitable, it is expected that a significant percentage of consumers would select the convenience and opportunity provided by the PowerPennies invention to effortlessly send pennies to their favorite nonprofits -- health organizations, children’s groups, PTA’s, alumni associations, churches, synagogues, volunteer fire/rescue squad departments, and other local/national/international nonprofits.
Benefits for Cardholders
The system provides passionate individuals with:
- The ability to marshal their pennies together and be assured that the money will get to their favorite nonprofit(s).
- The opportunity to allow cardholders to enjoy their spending even more, knowing that they are also taking care of those less fortunate.
- Auditing of their contributions on the Internet, while receiving community news and information from their selected nonprofit(s).
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Benefits for Card Issuers
As to the question, “Why should credit card issuers license PowerPennies and offer the system to their customers?” The answers are:
- Only 50% of the U.S. Cards Will Be Eligible for Licensing - Every Penny Counts plans on licensing 50% (or approximately 278 MM cards) with the rights to use its patented program. EPC will license card issuing financial institutions as Service Providers within the EPC Network on a first come basis.
- Every Card Can Become An Affinity Card - Once . licensed, card issuers will have proprietary rights to empower every existing and new cardholder with a direct connection to their personal causes. All of the power and passion involved in the PowerPennies system can be harnessed and distributed, without the need of card issuer physically co-branding a new card or sharing in the revenue produced by the card.
- Why Not - Other than the initial licensing cost and a one time software set up cost, issuers who license the PowerPennies system do not have any other ongoing cost. Why? Because the cardholder makes the cash contribution, not the issuer.
- Turn Key Marketing & Operation - As part of its services to licensees, EPC will enroll millions of nonprofit supporters in the PowerPennies program. As repeated studies have demonstrated, U.S. consumers are very charitable and after price and quality, a vendor's social practices often determine if a customer will stay or switch services. For example, 66% of shoppers would switch brands and 62% would switch to retailers who offer programs that will support their social causes. (Cone/Roper study)
- Public Relations - The PowerPennies system also has the power to soften the often-held public opinion that the “card industry” only cares about collecting late fees and employing “bait and switch” pricing tactics. Note: Since June 2000, major card issuers have settled class action suits by credit card customers for a total of $375 MM. In contrast to all of this bad news, when a card issuer(s) offers PowerPennies, they will be sponsoring pure, passionate giving, as well as having the opportunity to earn substantial incremental revenue from attracting new cardholders from issuers who are not licensed to offer PowerPennies.
- License Additional EPC Patented Products - Licensees of PowerPennies will also have the opportunity to license additional EPC patented products.
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Please click here, if you want us to find a proactive card issuer who will offer you the world class PowerPennies Credit Card program!
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