Report: GE Capital to enter loyalty program business

New York -- GE Capital and Kobie Marketing, a loyalty program service provider, will unveil a new product to help retailers establish and maintain loyalty programs that will create a unified profile for shoppers, according to a report by the New York Times.

The new product, expected to be announced this week, is reportedly called Integrated Multi-Tender Loyalty. With the new product, customers can sign up for a credit card that feeds into the program so retailers can devise reward programs. This means that shoppers can be monitored across any platform they may use, such as an app or Facebook, and their purchases can be integrated into their profile.

According to the report, GE Capital already works with 175,000 retailers on branded credit cards and views loyalty programs as a high growth area.

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