JSE launches loy­alty card

Jamaica Gleaner - - BUSINESS - Tameka Gor­don Busi­ness Reporter tameka.gor­don@glean­erjm.com

THE JA­MAICA Stock Ex­change (JSE) has launched a loy­alty card for in­vestors on the stock mar­ket in the hope that this will drive them to do busi­ness with listed com­pa­nies, while reap­ing cash back value for them­selves.

The pop­u­la­tion of in­vestors num­bers more than 100,000.

Ad­min­is­tra­tion of the card and back-of­fice ser­vices are be­ing han­dled by part­ner Sure Loy­alty So­lu­tions, a fairly new en­trant to the loy­alty-card mar­ket, which counts Sang­ster’s Book Stores, Tile City and Key In­sur­ance among its clients.

Gen­eral manager of JSE Group, Mar­lene Street For­rest, at the launch on Thurs­day pitched the card as a way for in­di­vid­ual in­vestors to reap added fi­nan­cial ben­e­fits, out­side of div­i­dend pay­ments, from the com­pa­nies in which they in­vest.

“It is what I would term a full-cir­cle card, which spreads ben­e­fits from the com­pany to the in­vestors and from the in­vestor back to the com­pany, which is owned by the in­vestor,” Street For­rest said.

“The par­tic­i­pat­ing com­pa­nies in this loy­alty re­ward pro­gramme know that div­i­dends stock splits are all tan­gi­ble ben­e­fits; how­ever these do not bring in­vestors di­rectly in touch the prod­ucts and ser­vices in which they

in­vest,” she said.

The card could also mean new cus­tomers for listed com­pa­nies, if it takes root, she rea­soned, while not­ing that busi­nesses will have a pool of more than

100,000 in­vestors as a po­ten­tial mar­ket.

Speak­ing to what she de­scribed as a reg­u­lar com­plaint of com­pa­nies that share­hold­ers do not of­ten at­tend annual

gen­eral meet­ings, Street For­rest said the card will also put in­vestors closer in touch with com­pa­nies whose stock they own as they par­take of the prod­ucts and ser­vices.

So far, seven stock mar­ket com­pa­nies have signed up to ac­cept the card, six of which are listed on the ju­nior mar­ket — Der­ri­mon Trad­ing Com­pany, Dol­phin Cove, LASCO Fi­nan­cial Ser­vices, Sweet River Abat­toir & Sup­plies, Knutsford Ex­press Ser­vices and Ja­maican Teas’ re­tail out­let, Shop­pers Delite; while the sev­enth is Ja­maica Stock Ex­change Lim­ited it­self, which is listed on the main mar­ket of the JSE.

Ap­pli­ca­tion forms are avail­able at the par­tic­i­pat­ing mer­chants and at the JSE.

The card branded The Ja­maica Stock Ex­change Loy­alty Pro­gramme: Re­wards for In­vestors will of­fer two per cent to five per cent cash back when swiped at the seven par­tic­i­pat­ing mer­chants.

“Cus­tomers will then re­ceive cheques with the cash value earned over a four-month pe­riod,” Gen­eral Manager of Sure Loy­alty So­lu­tions, Dex­ter Tul­loch, ex­plained at the launch event on Thurs­day.

The near-four-year-old card com­pany it­self has a branded prod­uct on the mar­ket dubbed, Sure Loy­alty.

While mer­chants have the op­tion of of­fer­ing vary­ing lev­els of dis­counts, Tul­loch said the range cur­rently spans two per cent to five per cent.

“The re­wards are con­verted to points, ac­cu­mu­lated on your loy­alty ac­count over a four month span then loy­alty cheques are mailed to you, which can then be re­deemed at any of the par­tic­i­pat­ing com­pa­nies,” Tul­loch said.

JERMAINE BARN­ABY/FREE­LANCE PHOTOGRAPHER

Ja­maica Stock Ex­change un­veiled its new loy­alty card on Thurs­day, Novem­ber 17. Seen here (from left) are Jacinth Hall-Tracey, man­ag­ing di­rec­tor of LASCO Fi­nan­cial Ser­vices; Der­rick Cot­terell, chair­man and CEO of Der­ri­mon Trad­ing; Mar­lene Street For­rest, gen­eral manager of JSE Group; Jodykay Maxwell, con­sul­tant with the IDB Mul­ti­lat­eral In­vestmenet Fund; and Mar­i­lyn Bur­rowes, vice-pres­i­dent of Dol­phin Cove.

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