While the Private-Label card market was impacted by the recession, current industry trends indicate that this market is once again poised for growth. Dan Stavros, executive vice president at CoreCard, recently provided PYMNTS.com his perspective on the return to profitability for Private-Label cards.
“Indeed, many retailers sold their credit card portfolios after the 2008 market crash to raise cash. Now that they have returned to profitability, the same retailers are looking to restart their in-house card programs to offer customers more attractive financing options to boost sales, according to Dan Stavros, executive vice president at CoreCard, a private-label credit card solutions provider.
“However, regulatory changes since 2008 have made it more difficult for smaller businesses to offer private-label card programs”, he tells PYMNTS.com. “Large processors continue to shy away from smaller portfolios, and only a few smaller processors and software vendors provide products that can meet the new regulatory requirements and be cost effective for the smaller businesses”.
CoreCard’s private label credit solution allow retailers and other lenders to offer market driven, rather than technology restricted payment options to its customers and thus drives sales and increase revenue.
Click here to read the full PYMNTS.com article on the changing landscape of Private-Label card: http://www.pymnts.com/in-depth/2014/private-label-cards-giving-retailers-a-boost-2/#.U5dDOfmwJ8E