RFP Process & Portfolio Sale–Regional Petroleum Company
Background
Our client, a leading domestic petroleum company, had been marketing a credit card program including private label credit cards and co-branded credit cards for many years
All operations for the private label card were owned and managed by our client. The co-brand was managed through a relationship with a card issuer and payment network
To enhance the effectiveness of the card programs, our client was seeking to team up with a card issuer willing and able to market both card products.
Our company was also seeking to sell its proprietary private label portfolio to the new card issuer
Engagement Objectives
Conduct an independent assessment of both card programs
Benchmark card agreement terms and financial contributions versus other, similar programs
Develop the go-forward strategy for the program
Execute the recommended strategy for the program
Negotiate the sale of the client’s proprietary card portfolio
Support the portfolio conversion
Results
Assessment revealed significant opportunities to enhance revenue for both programs
The recommended go-forward strategy included conducting an RFP process including both card products, and the sale of the private label card portfolio
Successfully consolidated the two card programs under one issuer
Significantly enhanced revenue contributions for the co-branded program
Created new revenue opportunities for the private label card program
Successfully managed all aspects of the private label sale and conversion transaction
