What do enhancement services provide in relation to bank card programs?

Enhancement services in relation to bank card programs refer to the value-added benefits that go beyond the basic functionality of the card itself. These services often include features such as fraud protection, rewards programs, travel insurance, concierge services, and purchase protection, all designed to improve the overall customer experience and provide additional value to cardholders.

By incorporating these value-added benefits, enhancement services help issuers differentiate their card offerings in a competitive market. They increase customer loyalty and satisfaction, as cardholders perceive greater value in their cards, making them more likely to use the cards more frequently. This strategic addition of benefits not only enhances customer engagement but also potentially leads to increased usage and profitability for the issuer.