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Rewards and Incentives made easy with B4B Payments

With economies across the globe on the brink of recession, retaining important figureheads in business has never been more important.

Some minds would automatically flip to customer retention, and rightly so – customer churn rate can be as high as 30% in some global industries, and as cost of living increases, we can only expect this to rise. However, it’s not only customers that will help businesses sail through hard times. Retaining staff and partners is crucial to keeping businesses afloat, recession or not.

Creating reward and incentive programs for employees, partners, and customers alike could be the key to maintaining a healthy business in the near future. But with different needs, cultures and locations to take into consideration – a one-size fits all approach is hard to come by.

Are you incentivising the key players in your business? Read on to find out the different approaches to incentives, how they can help your business, and what B4B Payments can do to give you the master key for you

What are incentives?

Rewards and incentives come in all shapes and sizes. Whether you’re focused on B2B, B2C, or B2B2C, there’s always a way you can utilise incentives to create value, loyalty and retention for customers, partners and employees.

Customer loyalty rewards

84% of global customers are more inclined to shop with retailers if they offer a loyalty reward programme or scheme. Some of the popular types include: 

Point based reward systems

Offering customers points in return for their purchases or continued service is an effective incentive to encourage them to stay a loyal customer. Points are usually tradeable for certain prizes, products or cash sums through these types of loyalty schemes.

Tiered incentives

Cashback incentives can be offered to customers that hit a certain tier level with their purchasing. With tiers completely customisable by companies themselves, often taking the form of length of contract or amount spent, they are a great way to ensure that people are getting extra value for their custom.

Omnichannel incentives

Want to inspire customers to use different channels in your business? Offering cash rewards or discounts to customers who are purchasing or completing actions on different channels like mobile applications is the way to go. Not only can these incentives phase out the resource intensive channels like phone or email.

Staff retention incentives

Retaining trained employees has never been more important than it is today, and with 74% of employees saying that incentives and rewards were important to them, offering schemes like this can be an easy win to keep them onside:

Time-based incentives

Rewarding staff for their ongoing service, or keeping employees happy during the holidays is becoming more common in competitive industries. Through prepaid or cash offerings, your staff are motivated to stay with your business until the next milestone, and are more likely to be satisfied when they return from traditional periods of annual leave.

Target based rewards

Traditional bonus schemes are a great way to incentivise staff to go the extra mile while in service, whether it’s based on deals completed or targets met. Offering percentages of business deals, or flat rate recurring bonuses through prepaid cash cards will help retain staff, as well as attract new employees to the business.

Partner incentives

Partners are among the most important people in your business, and may hold the key to continued business. In fact 57% of companies use partnerships to acquire new customers. Popular ways to incentivise partners include:


Rewards based on referrals are popular for partners and individuals alike. Schemes that involve cash incentives for business referrals can bring new business into your organisation, negating some of your existing sales and marketing process.


Knowledge is power, and market research is the key. Rewards for partners who engage in market research is a great way to strengthen connections, as well as ensuring constant visibility on the state of B2B and B2C markets.

How incentives help

Incentives provide a constant reason for staff, employees and partners to continue to interact with your business.

However, in an international, diverse, and often remote-based society the trend for the instant gratification of cash is emerging moreso. In fact, 84% of remote employees surveyed named prepaid cards their preferred reward.

Not only is cash universally accepted for partners, employees and customers around the globe, it also eliminates the need to navigate cultural and political trends, as well as logistical issues that can stem from availability and delivery of alternative physical rewards.

The B4B Payments solution

B4B Payments allows businesses to execute their rewards and incentives scheme in one unified manner – thorough physical and virtual (closed and open loop) services.

Prepaid virtual and physical cards can be distributed as rewards on incentive schemes to partners, customers and employees alike to encourage referrals, repeat business and retention. Instead of receiving bespoke rewards or gift cards that can only be redeemed in certain stores, B4B Payments allows payments that are recognised internationally, and managed through an easy-to-use iOS or Android cardholder app, giving your recipients the oversight on their spending and remaining balance.

What’s more, B4B Payments allows you to brand your card services, extending the reach of your marketing efforts, as well as incentivising the key players in your business.

Discover more about B4B Payments engaging rewards and incentives

Looking to add prepaid virtual or physical cards into your incentive schemes? Take a look at how B4B Payments’ solution can help you maximise your goals through seamless reward payments.

To find out how our solutions can help you, contact us today!

Company News Newsroom

Evolving fintech businesses with BIN Sponsorship 2.0

By 2030, the global fintech market is projected to reach circa $700 billion representing a compound annual growth rate (CAGR) of 20.3%, it’s clear that businesses and individuals alike are continuing the trend of using technology for their payments.

With the competition in the sector fiercer than ever, and only expected to grow, speed-to-market has become a crucial factor when it comes to establishing new startups in a crowded market.

While direct scheme memberships through the likes of VISA and Mastercard can often be a laborious, time consuming process requiring significant investment, there is a quicker alternative to card issuing. BIN Sponsorship bridges the gap for fintechs wishing to offer payment solutions to their customers straight out of the gates.

Read on to find out how BIN Sponsorship can benefit your fintech business, and how B4B Payments BIN Sponsorship 2.0 could give you the tailored support needed to get your product to market quickly.

What is BIN Sponsorship?

For fintech start-ups, BIN Sponsorship is a solution that allows them to connect to the card scheme network through an e-money organisation, like B4B Payments. This allows them to perform the operations of a financial institution, before becoming principal members of card issuers like Visa and Mastercard. Drastically speeding up product launches, it is the perfect way to to bypass long and arduous direct scheme applications, and get products to market ahead of the competition. With an industry saturated with over 27,000 startups worldwide, gaining a speed-to-market advantage can prove significant.

Here’s a breakdown of BIN Sponsorship…

A Banking Identification Number (BIN) references the four or six initial numbers on the front of a payment card and helps to identify the issuer of the card during the transaction, giving fintech companies the ability to make payments quickly and efficiently between accounts.

Sponsors are third-party payment providers or e-money institutions, like B4B Payments, that connect fintech start-ups to approved BINs and account ranges. Sponsors effectively act as the middle-men to enable new businesses to offer payments solutions, allowing businesses to leverage their scheme memberships with issuers.

Looking for BIN sponsors to kick-start your fintech operations can be a tricky process. It’s important to consider a number of factors when partnering with a sponsor, including compliance, speed-to-market, and experience within the industry.

At B4B Payments, we have used our 15 years’ experience in the payments industry to evolve our BIN Sponsorship offer to the next level with BIN Sponsorship 2.0.

How does BIN Sponsorship 2.0 set you apart from the competition?

Using our extensive experience in payments, we have developed an end-to-end bridging solution for fintech startups. This best-in-market offering  provides support to businesses as they launch their service, connect with card issuers, and beyond.

We go the extra mile with BIN Sponsorship 2.0, extending our service to cover the most important areas of partners’ needs:

Functionality and compliance

Functionality and compliance are priorities for fintech businesses – often the deciding factor for whether new products and companies sink or swim. BIN Sponsorship 2.0 puts compliance at the heart of its offering, combining the responsibility to handle Anti-Money Laundering (AML) and Know Your Customer (KYC) checks, with funds safeguarding and fraud monitoring for all partnering companies.

More importantly, B4B Payments offers complete authorisation from the Financial Conduct Authority (FCA), and the Bank of Lithuania with e-money licences, as well as Mastercard Principal Member status, which can be leveraged by startups wishing to expand internationally into European markets.

Tailored support

While BIN Sponsorship is sometimes used as a quick-win when gaining an e-money licence, B4B Payments offers an extended service outside of regulated EMIs, allowing businesses to continue to outsource scheme management, collateral requirements and settlements.

BIN Sponsorship 2.0 is not an off the shelf solution, it can be tailored to Fintech needs. It offers partners the chance to use our e-money permissions while building their own relationships with card issuers.

Partnerships to suit fintech needs

With BIN Sponsorship 2.0 there are a variety of partnerships to suit fintech businesses, whatever stage in the cycle you may be at.

For unregulated EMIs businesses, we offer a full end-to-end package. This allows total use of our scheme licences and e-money permissions, with the support of our experts as you choose your own suppliers and develop your own card programme using our framework. For fintechs who require a less hands-on approach, we also offer a BIN sponsorship light package, allowing direct integration into our platform, and enabling speed-to-market. 

For regulated EMIs without a scheme licence, we offer settlement, or turnkey settlement only packages, allowing you to leverage our issuing capabilities, while building your own UI.

What’s more, B4B Payments also offers a support service for regulated EMIs with scheme permissions, providing a continued service for safeguarding, accounts and payments.

Proven Speed-to-Market success

Our BIN Sponsorship 2.0 partners’ success speaks for itself. In 2021, Juni, an e-commerce fintech, partnered with B4B Payments.Through using our solution, they were quickly able to bring their card to market without first needing to navigate the process of gaining their own e-money licence and card scheme membership.

Juni continued to lean on B4B Payments as a partner for support throughout their rapid scale-up as they became one of 2021’s fastest-growing fintech startups, taking advantage of BIN Sponsorship 2.0’s product flexibility, as well as the experience of the experts behind the scenes.

Discover more about BIN Sponsorship 2.0 with B4B Payments

Do you want to know more about how BIN Sponsorship 2.0 can make a difference to your fintech startup? Discover our memberships and how B4B Payments’ experience in the industry can help keep you competitive.

To find out how our solutions can help you, contact us today!