Dynamics ePlate® Card Shatters 1% Credit Card Reward Status Quo -- ePlate® Cardholders Can Earn New Rewards Worth 50% Or More
LAUNCHES NEW "NO ANNUAL FEE" CARD AND TV AD CAMPAIGN DECLARING "EVERYTHING ELSE IS JUST PLASTIC(SM)"
PITTSBURGH, June 4, 2013 /PRNewswire/ -- Dynamics Inc., an innovator in next-generation, interactive electronic payment cards, today doubles the value of most existing Experience™ rewards on its award-winning ePlate® credit card and introduces 12 new Experience™ rewards. This new level of Experience™ rewards lets cardholders earn unique experiences, such as private jet flights and racecar driving lessons, at reward levels that can be valued as high as 50 percent or more. This rate is 50 times greater than the traditional 1 percent rewards of other credit cards.
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Dynamics also introduces a "no annual fee" version of the ePlate® Visa card -- the Dynamics ePlateEZ Visa card. Consumers now have a choice between the "no annual fee" ePlateEZ card and the $99 annual fee ePlate® card. The ePlate® card earns double rewards on nearly all Experience™ rewards compared to the no fee ePlateEZ card .
With the ePlate® card(with fee), cardholders can now earn rewards valued as high as 50 percent or more. For example, cardholders can redeem a day at the Skip Barber Racing School (a $700 value) just by spending $1,250 (a 56 percent reward). With a traditional 1 percent rewards credit card, a consumer would need to spend $70,000 to earn an equivalent reward.
ePlate® Experience™ rewards can even reach 100 percent in value. With JetLimo, a cardholder can earn a seat on a private jet flight worth $1250 after spending only $1,250. With a traditional 1 percent rewards card, a consumer would need to spend over $125,000 to earn an equivalent reward.
"Roughly 50 percent of credit cards carry rewards, and the status quo is to give 1 percent of each purchase back to a consumer as a reward," said Jeff Mullen, CEO and Founder of Dynamics Inc. "The ePlate® card shatters this status quo with new rewards as high as 50 percent or more. ePlate® cardholders can even earn a 100 percent reward so that an ePlate reward is just as large as the purchase itself," says Mullen.
New Experience™ Rewards
Dynamics introduces 12 new Experience™ rewards, including simpler and faster ways to earn both cash back and air travel.
The CashPerks+ Experience™ reward offers ePlate® cardholders 1.25 percent cash back and ePlateEZ cardholders 1 percent cash back on all purchases. When a cardholder redeems a $50 cash back reward, they can also win a random cash back bonus of up to 19 times their $50 cash back reward. For example, a cardholder that redeems $50 in cash back may receive an additional $950 for a total of $1000 in cash back. Unlike other cash back programs, CashPerks+ does not limit cardholders to certain spending categories, like grocery stores and gas stations.
The Air Dollars experience reward offers ePlate® cardholders airline dollars that, unlike typical card reward offers, can be used for any purchase at any major airline with no blackout dates or seat limitations. Cardholders can also win up to $500 in additional airline dollars by collecting virtual collect-and-win game pieces with their purchases. With Air Dollars, ePlate® cardholders earn 1.35 percent while ePlateEZ cardholders earn 1 percent.
The full list of new ePlate® Experience™ rewards for the fee card includes rewards up to 100 percent:
- 1-800-Flowers.com®: Earn a $20 Fresh Rewards voucher good for any Flower arrangement for every $500 spent – a 4 percent reward.
- Air Dollars: Earn 1.35 percent airline dollars good at any major airline for any purchase as well as virtual collect-and-win game pieces worth up to $500 in airline dollars.
- CashPerks+: Earn 1.25 percent cash back with random redemption bonuses of up to 19 times the redeemed cash back amount.
- Exclusive Artwork: Earn exclusive and limited edition signed prints and giclées on canvas from artists like Conni Togel, Jasmine Becket-Griffith, and Michael Heslop.
- JetLimo: Earn a seat voucher for a private JetLimo flight after $1,250 in purchases. Seats on JetLimo are routinely priced from $500-$1250 – a 40 to100 percent reward.
- Longaberger: Earn limited edition, signed, exclusive baskets from the Longaberger Rewards Collection, after spending $5000. Baskets valued at $300 - a 6 percent reward.
- MovieTickets.com™: For every $45 in purchases, compete against 24 other people in a movie caption game contest to win a $10 movietickets.com voucher.
- NOVICA (in association with National Geographic): Earn handmade goods from artisans located in Asia, South America, and Africa.
- Warrior Canine Connection: Donate rewards to help train service dogs for wounded veterans.
- World Vision: Earn rewards while donating to World Vision USA causes to help build a better world for children.
How it Works
Known by early adopters as the card that "lights up," the ePlate® card is equipped with two "Experience™ buttons" that literally light up when pressed, giving cardholders a more active role in deciding which rewards they want to earn and when. The buttons are linked to Experience™ rewards that cardholders choose online or on their mobile phone and can change at any time.
Before making a purchase at the point of sale, cardholders select which reward they would like their purchase to go towards by pressing the button associated with their desired reward. The button lights up to show that the reward has been selected.
With ePlate® rewards, a cardholder who earns an eBook by purchasing lunch at a fast-food restaurant can get his eBook delivered before he is served his meal and read the eBook while eating. ePlate® rewards are so fast – routinely delivered within seconds – that the rewards truly feel like they are part of the purchase itself. In comparison, other reward credit cards deliver rewards 30-45 days after a purchase.
How the ePlate® Card is Able to Give Consumers 50 Percent or More Rewards
The ePlate® business model is at the heart of why Dynamics can give cardholders 50 percent or more of their purchase value in rewards while other credit cards struggle to achieve 1 percent. Traditional co-brand reward credit cards rely on one major reward partner and all customer acquisition originates from that partner. The Dynamics ePlate® card, however, flips the model on its head by letting cardholders change the primary reward provider at any time. The ePlate® card does not have one primary reward provider – there are multiple reward providers with new ones being added all the time. In so doing, ePlate® reward providers can actually acquire customers from the ePlate® customer base – not the other way around. Reward partners can then add value to the rewards in order to attract more customers.
"With the ePlate® card, cardholders are making an active choice of picking a reward provider for a particular purchase," says Mullen. "Because of this pre-purchase commitment to the reward provider by the cardholder, the reward provider can make a commitment back to the cardholder in the form of higher value rewards."
New ePlate® TV Advertising Declares "Everything Else is Just Plastic(SM)"
To coincide with the new rewards and ePlate® offers, Dynamics has introduced a new TV campaign, created by Grey Advertising NY, to stress the extremes most rewards cardholders have to go through to earn a typical 1 percent reward versus being able to earn many rewards much faster with an ePlate® card. One commercial highlights the advantages of the ePlate® card by poking fun at how long it takes a consumer to earn a trip to Japan for his girlfriend with a traditional 1 percent airline miles credit card. The consumer buys everything he can and finally earns enough miles to get the trip only to find out that his girlfriend is now married to someone else. The ads begin airing on June 6.
To view the TV Commercial visit: http://www.dynamicsinc.com/Videos/ePlateFamily
The Dynamics ePlate® and ePlateEZ cards are issued by UMB Bank,n.a. and operates on the VISA network. For more information or to apply for a card, visit www.geteplate.com/applynow.
About Dynamics Inc.
Dynamics Inc., founded in 2007 by Jeff Mullen, designs and manufactures intelligent battery-powered payment devices and advanced payment platforms. The company won the $1M People's Choice Award at DEMO Fall 2010, four Finovate Best of Show awards, and Best in Show for Personal Electronics at the 2011 International CES show. Dynamics investors include Adams Capital Management and Bain Capital Ventures. For more information, visit www.dynamicsinc.com.
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SOURCE Dynamics Inc.
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