New Visa Card To Score Points With Disney4 Jun, 2002 By: Hive News
The Walt Disney Co. and partners Bank One Corp. and Visa are gambling that their joint business venture will produce the happiest card on Earth: a Disney-branded Visa card with Disney rewards redeemable for everything from videos to theme park vacations.
Initially, the card will be offered only in the U.S., and The Walt Disney Co. will promote and reward its usage through its domestic businesses. Customers may accrue rewards from all purchases anywhere Visa is accepted worldwide. Monthly statements will provide special Disney promotions for members and the latest Disney news and updates on rewards earned.
The venture results from two multiyear, strategic alliances that will also provide Visa with joint marketing opportunities across Disney's business units. The card and cooperative marketing initiatives are targeted for launch in the first half of 2003.
"With Bank One, we are creating an exciting and unique credit card that will offer families and other Disney fans special rewards combined with quality service and competitive terms. Disney will be able to reward our guests and customers for their loyalty and help many others experience the magic of Disney, both key principles of our ongoing customer relationship management strategy,” said Peter E. Murphy, Disney's senior EVP and chief strategic officer. “With Visa, we are creating a wealth of global cross-promotional opportunities across various Disney businesses."
Visa will gain the right to create marketing programs with Disney tie-ins, including exclusive Visa card promotions with Disney's theme parks and resorts in the United States and Europe, The Disney Stores, Walt Disney Studios and Disney stage productions. Visa will continue as a major advertiser on Disney's media properties, such as ABC Television Network, ESPN, ABC Family, SoapNet and ABC Radio Networks.
"This strategic alliance positions Visa alongside the world's number one entertainment brand and allows Visa to help its member banks and merchants reach a key demographic -- families -- in new and entertaining ways” said Carl Pascarella, president and CEO of Visa USA. “The Disney relationship perfectly complements our strong leadership property portfolio, and we expect this alliance to do for us through entertainment what the Olympic Games have done for us through sport: create unrivaled benefits for our membership."