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Developing a Customer-Driven Credit Card: Testing Consumer-Issuer Collaboration in the Barclays Ring Community

Author

Listed:
  • Tom Akana

Abstract

The Consumer Finance Institute hosted a workshop in November 2018, featuring Paul Wilmore, then chief marketing officer of Barclays US, to discuss the Barclays Ring credit card program. Through the Ring online community, Barclays engages cardholders directly in the program management, sharing detailed profit and loss data, seeking input on program features, and soliciting ideas on how to better create a relationship between the issuer and the customer. Wilmore reviewed the history of the Ring program and provided an overview of the key successes and challenges Barclays has encountered. This paper summarizes Wilmore?s presentation and provides additional research on online communities.

Suggested Citation

  • Tom Akana, 2019. "Developing a Customer-Driven Credit Card: Testing Consumer-Issuer Collaboration in the Barclays Ring Community," Consumer Finance Institute discussion papers 19-4, Federal Reserve Bank of Philadelphia.
    • Handle: RePEc:fip:fedpdp:19-04
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    More about this item

    Keywords

    credit cards; online community; participation inequality; gamification;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation

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