fredag 20. november 2009

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Brazilian bank turns credit card into lottery vehicle

lottery

One of the biggest challenges facing financial corporations in Brazil is to increase the use of credit cards among low-income clients. But, in the middle of a crisis scenario, how to persuade them to put aside their anxiety and become more confident about using their cards?

The national bank, Caixa Econômica, is investing in a promotion inspired by Brazilians’ faith in the luck of lotteries. This is how it works: Each purchase made with the card generates a coupon that can be raffled. The prize? The bank pays the credit card bill. This means that the more times you spend, the more chances you have to win everything you’ve bought.

Betting on a game of faith valued by Brazilians, the bank offers people a chance to reduce worries related to their credit card bills—and maybe worries related to the crisis itself. —With the contribution of Luiz Mastropietro

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