According to a recent survey from incentive marketing firm Young America, prepaid reward cards are among the top incentives human resource executives deploy.
The study, conducted in late 2010, surveyed 355 executives in human resources, sales or marketing departments in U.S.-based companies that offered incentive programs.
Researchers found that prepaid reward cards were nearly equal in popularity to checks, as executives used the cards for motivation 46 percent of the time, compared to 47 percent who used checks. Cash rewards registered as the least common, at 33 percent.
“Prepaid cards are unique because they remind employees that they are being thanked every time they use the card – unlike cash or a check, which is often forgotten about once spent or deposited,” said Tim Crank, senior vice president of marketing for Young America.
NACS Online reports that prepaid reward cards are making a resurgence at gas stations as well. Many gasoline companies are teaming with local supermarkets to provide tandem deals to help Americans save at the pump. For example, Shell has teamed with chains such as Winn-Dixie and Kroger, allowing consumers to earn rewards that are redeemable at Shell stations.