COLUMBUS, Ohio, Nov. 3, 2016 /PRNewswire/ -- Alliance Data Systems Corporation'scard services business, a premier provider of private label, co-brand and commercial credit programs, today announced its new, proprietary credit card acquisition tools for retailers, designed to add convenience, save time and reduce abandoned credit applications. I.D. Self-Scan and the first-of-its-kind Frictionless Mobile Credit provide shoppers with the ability to apply for a store-branded credit card in a matter of seconds. Early data indicates that Frictionless Mobile Credit reduces application time by more than 25 percent.
Snap, Tap…AppAlliance Data's I.D. Self-Scan tool allows consumers to apply for a credit card simply by taking a photo of their driver's license or state-issued I.D. The credit application is pre-populated with data from the I.D., which may amount to as much as 70 percent of the application, kicking off the credit review and approval process. The capability can be utilized either by the consumer on their own mobile device or by associates using in-store tablets. The first-of-its-kind Frictionless Mobile Credit (patent pending) requires a simple text and a few keystrokes and consumers are on their way to applying for credit. Through Alliance Data's proprietary process, a credit application is automatically populated using information from vast data resources. These consumer-initiated technologies both allow shoppers to "apply and buy," to take advantage of first-purchase discounts and incentives. In a pilot program, accounts generated by I.D. Self-Scan are showing a 40 percent higher first transaction size than accounts generated at POS. "Our research shows a double-digit abandonment rate during the traditional mobile credit application process, and we have already seen an 83 percent reduction in that number as we begin to implement these and other mobile and digital application tools that streamline the process and save time for consumers," said Sheryl McKenzie, vice president of marketing, product and capabilities for Alliance Data. "We're focused on providing innovative solutions, such as these new acquisition tools, that put the customer experience first and reduce friction in both the card application and purchasing process." Alliance Data is currently implementing these new acquisition tools in partnership with several national specialty retailers and plans to roll them out more broadly in the coming months.