MONETT, Mo., Aug. 7, 2018 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced the successful completion of its first custom Priceless Surprises® campaign with Mastercard®.
As a strategic partner with Mastercard, JHA Card Processing Solutions™ (CPS) offered its financial institution clients the opportunity to participate in the Priceless Surprises campaign, encouraging card use and loyalty by offering cardholders the chance to win rewards ranging from $500 statement credits to once-in-a-lifetime trips. The incentives were awarded during a six-month period and the campaign message reached nearly 1.8 million cardholders. Every participating institution was allotted three $500 incentives, ensuring that the opportunity to build cardholder loyalty and increase revenue was well distributed. JHA Payment Solutions offered this program and its associated marketing materials at no cost to financial institutions.
CPS Mastercard issuers who participated in the promotion have seen increases in both the number of transactions completed and the total dollar amount spent – a surge of nearly 2.2 million and $49 million, respectively. On an individual level, participating financial institutions averaged a $27.67 increase in spend per account, and a 2% increase in transactions during the promotional period.
FMBBank of Tallahassee, Fla., saw a steady increase in signature authorizations throughout the course of the campaign, ultimately increasing its total transactions about 10% from the start of the campaign in November 2017 until it was complete in May 2018. According to Debara Jump, marketing officer at the bank, "Our customers responded well to the Priceless Surprises campaign. Moving a card to top of wallet choice is always a challenge; now that our card is being considered more frequently, we will work to continue that momentum."
The grand prize winner of the campaign was a cardholder from Arlington, Texas-based Texas Trust Credit Union. Shelley Carlson, vice president of marketing for the credit union, shared, "Texas Trust Credit Union aims to help members build brighter financial futures and work toward their dreams. Being able to surprise a member with an experience like this is a great opportunity to highlight what we are all working toward. Thanks to our partnership with Jack Henry & Associates and Mastercard, our winning member will be gifted a trip for two to New York City. This will be their first time visiting the city, so it is truly a Priceless Surprise."
Greg Adelson, vice president of Jack Henry & Associates and general manager of JHA Payment Solutions, added, "We were thrilled to offer our JHA Card Processing Solutions customers the exclusive opportunity to participate in the Priceless Surprises campaign. We are the only processor to offer this campaign through Mastercard, which is a testament to CPS' commitment to helping our customers succeed with their card programs. Helping banks and credit unions influence consumer spending further positions their card portfolios for growth and success, and we're pleased that this promotion had a clear and meaningful impact on card usage and spend."
As a result of the resounding success of this campaign, Jack Henry & Associates and Mastercard expect to conduct a second custom Priceless Surprises campaign beginning in October 2018. CPS Mastercard issuers may opt-in until August 14, 2018 here: https://jhapromotionportal.com.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve more than 9,000 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
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SOURCE Jack Henry & Associates, Inc.
Analyst Contact: Kevin D. Williams, Chief Financial Officer, (417) 235-6652; Press Contact: Jessica Randall, Corporate Communications Manager, (704) 357-0298