Prepaid credit cards provide the universal appeal of cash and take both
    the guesswork and legwork out of corporate incentive and reward programs

    TORONTO, May 27 /CNW/ - Scotiabank has collaborated with Berkeley Payment
Solutions to launch one of Canada's first suite of corporate prepaid Visa
cards. Hugely popular in the United States, prepaid Visa card payment
solutions benefit companies seeking proven cost-effective payment solutions
that extend their company's brand and resonate with employees, customers, and
partners.
    This new suite of payment solutions feature branded, re-loadable prepaid
Visa cards that provide the ease-of-use of a credit card with the universal
appeal of cash and the satisfaction of a personal reward. By allowing
cardholders to redeem their reward anyway and anywhere they want, prepaid Visa
cards are the ultimate win-win solution: employees, customers and partners
want to receive meaningful and convenient reward and incentive options (based
on choice and flexibility) while companies want to eliminate the time, cost
and hassle associated with the disbursement of checks and/or merchandise.
    "Given the market for prepaid Visa cards is experiencing significant
growth across North America, Scotiabank's collaboration with industry-leader
Berkeley Payment Solutions gives us the ability to offer a new suite of
innovative corporate payment solutions to the under-serviced Canadian
marketplace," explains Rubina Havlin, Vice President, Credit Cards,
Scotiabank. "Our clients and the many other Canadian companies who have been
searching for a cost-effective alternative to deliver and manage reward and
incentive programs will now have the versatility, flexibility and choice they
have been seeking."
    Using an innovative prepaid Visa platform (featuring all the security and
flexibility associated with the Visa brand) and providing timely, useful and
accurate reporting metrics to measure the success of each payment program,
Scotiabank and Berkeley's prepaid Visa cards both increase program
participation and motivate participants to exceed program goals. Other
important results include increased marketing return on investment,
significant lifts in sales, enhanced employee motivation and enhanced employee
retention.
    "Not only are prepaid Visa cards less costly to issue than cheques and
merchandise, companies are discovering its significant value as a marketing
tool," explains David Eason, CEO, Berkeley Payment Solutions. "Showcasing a
company or product's name or logo on each prepaid Visa(R) card allows it to
establish a positive association with the brand each time a cardholder uses it
to make a purchase."
    Nissan Canada selected Scotiabank and Berkeley to spearhead two recent
reward programs. In October 2007, the "Nissan Rogue Test Drive Direct-mail"
program invited customers to test drive the all-new Nissan Rogue and gave them
the option of being rewarded with a Nissan prepaid Visa card. In addition, and
among the first programs of its kind in Canada, Nissan launched its "Bonus
Days" program in December 2007 which provided customers with the choice of
receiving either a Nissan-branded prepaid Visa gift card or a rebate upon the
purchase of one of four Nissan vehicles (Rogue, Altima, Sentra or Versa).
    "Nissan Canada strives to stand out from the crowd with innovative and
effective ways to incent and reward our customers," explained Jason Legere,
Manager, Sales Planning, Nissan Canada.
    Scotiabank and Berkeley also worked closely with LG Electronics Canada to
launch its LG Shine cell phone in October 2007. As part of its "Born to Shine"
campaign, an LG-branded re-loadable prepaid Visa card was issued to more than
1,500 retail sales associates at cellular dealerships across Canada. The
reward structure was clearly communicated by LG's national sales team at the
launch of the campaign and funds were regularly loaded onto each person's card
based on the volume of all LG cell phones sold.
    "The LG Shine prepaid Visa campaign is seen as a tremendous success on
every level by both our Canadian management team and our head office in
Korea," explained Beverley Battram, Director of National Accounts, LG Canada.
"Not only was our lift in sales much higher than anticipated, it was one of
the easiest incentive programs for our national sales team to both implement
and communicate to dealer sales associates. This program delivered such
outstanding results and such a win-win proposition for everyone involved -
both internally and externally - that we intend to re-launch a similar program
in May," concluded Battram.
    Eason explains that employee reward, compensation and incentive programs
have been around for decades, but corporate incentive choices haven't evolved
much beyond catalogues. However, more and more Canadian companies are starting
to turn to prepaid Visa cards because they are finding it virtually impossible
to anticipate what their employees want to receive as an incentive or reward.
In fact, Eason's analysis of a recent prepaid Visa card campaign worth
hundreds of thousands of dollars found that collectively, cardholders did not
spend more than 10% of funds in one single merchant category. However, even if
a category could be identified, it would be almost impossible to select the
"right" brand or store desired by each individual. This is why giving
cardholders the choice and flexibility to redeem their rewards anyway and
anywhere they want is the ultimate win-win situation.

    About Scotiabank

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 60,000 employees, Scotiabank
Group and its affiliates serve approximately 12.5 million customers in some
50 countries around the world. Scotiabank offers a diverse range of products
and services including personal, commercial, corporate and investment banking.
With $449 billion in assets (as at January 31, 2008), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
www.scotiabank.com.

    About Berkeley Payment Solutions

    Berkeley Payment Solutions delivers innovative pre-paid Visa card
programs and services to companies across North America seeking proven
cost-effective payment solutions that extend their company's brand and
resonate with employees, customers, and partners. While reducing the
complexity and cost of implementing incentive, reward, and rebate programs,
Berkeley harnesses the universal acceptance, security and functionality of a
Visa credit card. For further information, visit www.berkeleypayment.com.

    TM Trademarks of the Bank of Nova Scotia. (R) Registered trademarks of
    the Bank of Nova Scotia. (*) VISA Int./Lic. User The Bank of Nova Scotia.