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Sears, Roebuck and Co. will launch a new partnership program in the first half of 2003 designed to expand use of its Sears credit card.
The partnerships will be limited to travel, entertainment, dining and retail businesses that do not compete directly with the retailer. Cardholders would receive special offers enticing them to do business with partners, who would gain cross-promotional opportunities from the arrangement.
Bill Masterson, a spokesperson for Sears, told DIRECT Newsline the partnership program will be promoted to cardholders through inserts in billing statements as well as standalone direct mail campaigns. As the program develops, Masterson said it would likely be incorporated into prospecting campaigns for the Sears card.
Hoffman Estates, IL-based Sears has approximately 40 Sears card holders, what it claims is the largest retail credit card customer base in the world. The card is currently accepted in Sears stores and at authorized or licensed Sears retail outlets.
"The changes we're bringing are in response to feedback from our customers," said Kevin T. Keleghan, president, Sears credit and financial services, in a statement. "Just over 20 million of our card holders have converted to Sears Gold MasterCard. However, a number of our customers have told us they want to keep their Sears card, but are interested in new ways to use their card."
"The strategic partnerships we're developing will give our customers access to discounts and special offers at a select circle of businesses and the option to use their Sears card for those purchases," he added.
Global Payments Inc. (NYSE:GPN) will be the payment gateway for processing services offered to the Sears strategic partner companies, under an agreement recently reached between the two companies. In addition, Global Payments will work with existing processors of Sears' partners to implement the program.
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