Member Motivation That Drives Revenue Growth
By Arne Gaenz, Strivve
Transactions and Interchange Revenue Increase With Top of Wallet
Online sales transactions of all types have skyrocketed in recent years, and cardholders are relying on stored payment methods more than ever. As a result, credit unions are paying closer attention to card placement and active card use. Keeping your card at the top of members’ digital wallets is no longer optional – it’s essential to growing transaction volume and interchange revenue.
How to Drive Card Placement Success?
Several factors influence whether members will place your card with top merchant sites. Motivation is a key driver – members are far more likely to update their default card when they understand the benefits and are prompted at the right moment. Awareness also matters. Credit unions can build awareness by presenting card-update options during card activation, embedding clear calls to action in digital banking alerts, or running targeted campaigns that highlight the value of default placement.
Finally, timing makes a measurable difference. When members activate a new card, placement success can exceed 50%. In contrast, casual discovery during an online banking session typically results in less than 10% success. The lesson: aligning timely prompts with meaningful member moments leads to stronger outcomes.
Why Incentives Boost Member Engagement
Incentives can also dramatically increase engagement. One credit union with nearly $1 billion in assets and 75,000 members recently tested a tiered incentive program. Members earned $10 for placing their card with one merchant, up to $100 for five merchants. The results were striking: success rates were three times higher than typical campaigns.
This example illustrates how structured rewards can motivate members to complete multiple placements, directly boosting top-of-wallet positioning and interchange income. Even modest incentives can shift behavior when paired with the right timing and messaging.
Key Takeaways for Your Card Program
Helping members keep your card at the top of their digital wallet comes down to three things: timing, messaging, and motivation. Prompts aligned with meaningful moments, paired with clear value messaging and the right incentives, can significantly improve placement success.
As digital commerce continues to grow, strategies like these will be essential for credit unions that want to maximize cardholder loyalty and revenue.
Ready to Ramp Up the ROI on Your Card Program?
Excellent member benefits can be delivered by your credit union partnering with Strivve. We can share proven ideas to generate measurable improvements to your overall card portfolio success. We’ll improve member cardholder experience, increase loyalty, and generate stronger financial returns thanks to the strategic efforts you put behind your card program.
Connect with Strivve to learn more.
