WestLB extends deal with Payback
German bank WestLB is to extend its cooperation with the Payback coalition loyalty programme until 2014.
WestLB has been a partner in Payback for three years. Further to the partnership extension, the bank is to relaunch its Payback Plus debit card as a MasterCard Maestro card in Q4 this year.
The new Maestro card will enable customers to collect points, make payments at all retailers taking part in the Payback scheme, and to withdraw cash from ATMs throughout Europe.
WestLB and Payback say that, from now on, they will be working with MasterCard to further boost the benefits the Payback customer cards offer to consumers and retailers.
“Our expectations of Payback and the potential offered by highly-efficient dialogue marketing in the financial services sector have been completely fulfilled”, said Dietrich Voigtländer, member of the WestLB Managing Board. “In addition, we are ensuring that all Sparkasse banks and network partners have the option of accessing the largest marketing platform in Germany via the Institut für Marketing und Kundenbindung GmbH (S-IMK), which provides customer loyalty services for the Sparkasse banks.”
WestLB works in close partnership with the Sparkasse banks, and offers a range of banking products and services, focusing on lending, specialised finance, capital market and private equity products, asset management, transaction services, real estate finance and private banking.
Voigtländer added that the further cooperation with MasterCard is the next logical step toward ensuring Payback customers also reap the benefits of worldwide payment functions. He said: “By relaunching the Payback Plus card, we are also reflecting the Payback partners’ wishes that the Payback Plus card should feature attractive services for the end customer.”
Burkhard Grassmann, a spokesman for the Payback management board, commented: “A number of partners such as dm-drogerie markt, Galeria Kaufhof, real, the Linda pharmacies and WMF have already extended their contracts with Payback over the last few months, so we are delighted that yet another partner has chosen to confirm their confidence in the strength of our programme.”