June 19, 2024
EA FIntech Fair

Shiekh Shoes and Sunbit Partnership Introduces a New Co-Branded Retail Credit Card

Our-collaboration-with-Sunbit-reflects-our-commitment-to-providing-exceptional-service-and-value-to-our-customers-said-Shiekh-Ellahi-CEO-of-Shiekh-Shoes
Our-collaboration-with-Sunbit-reflects-our-commitment-to-providing-exceptional-service-and-value-to-our-customers-said-Shiekh-Ellahi-CEO-of-Shiekh-Shoes

Shiekh Shoes, a premier retailer in the footwear and apparel industry, has announced a strategic alliance with Sunbit, a leader in financial technology, to introduce the Shiekh Credit Card. The co-branded retail credit card, the Shiekh Credit Card, was built on the Sunbit Credit Card platform and is designed to enhance the shopping experience and foster brand loyalty.

“Our collaboration with Sunbit reflects our commitment to providing exceptional service and value to our customers,” said Shiekh Ellahi, CEO of Shiekh Shoes. “Sunbit offered the only solution inclusive enough to fit our young and tech-savvy audience, who sometimes have little to no credit history. We are proud to be the first credit card some of them will ever use, and we want to build a long-term relationship with our customers by offering a superior experience. Sunbit’s innovative technology, proven retail expertise, and rapid implementation process make them an ideal partner for this venture.”

Key features of the Shiekh Credit Card include:

  • Exclusive Rewards: Cardholders get a $10 statement credit on the first Shiekh Shoes purchase with the card. The card extends the existing Shiekh Shoes rewards program by offering customers points on purchases they make – anywhere.
  • No Fees: Cardholders are not charged late, penalty, or annual fees.
  • Instant Accessibility: Customers do not need to wait for the physical card to arrive and can use the card immediately upon approval anywhere Visa® is accepted via mobile wallets and the Sunbit app.

Shiekh Shoes chose Sunbit’s credit card platform for its:

  • Innovative Approval Technology: Sunbit’s cutting-edge technology enables a broader range of customers to get approved for the Shiekh Credit Card, including young consumers with thin credit files.
  • Rapid Implementation: Sunbit launched the credit card program within months, much faster than industry standards, with no technology integration required from Shiekh Shoes.
  • Comprehensive Support: Co-branded Card support includes marketing, employee training programs, call centre operations, and incentives.
  • Brand Loyalty: The credit card helps increase Shiekh Shoes’ brand presence in customers’ wallets, fostering long-term loyalty. Shiekh Shoes’ loyalty program members earn additional points whenever they use their Shiekh Card anywhere.

Tal Riesenfeld, Chief Revenue Officer and Co-founder of Sunbit added, “Our partnership with Shiekh Shoes is another way our financial solutions can create a win/win for retailers and their customers. With the Shiekh Credit Card, Sunbit is once again disrupting the traditional retail card market, offering a unique combination of flexibility, accessibility, and customer benefits.”

By March 2024, the Shiekh Credit Card will be available in-store and on shiekh[dot]com. Early data from the rollout indicates an increase in average order values at Shiekh Shoes stores and healthy cardholder balances.

“Sunbit’s extensive support and simple implementation made the rollout a success,” Ellahi shares. “We have already seen a remarkable lift in average order value of 4X, and expect these early indicators of customer loyalty to continue.”

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