FanBank selects Memphis for exclusive launch

FanBank, which operates using the same technology as airline or hotel rewards programs, is launching exclusively in Memphis this month with the start of its FanBank Challenge, a city-wide game that encourages shopping (and eating) at participating locally owned and operated businesses and offers Memphians prizes like courtside seats to a Grizzlies game.

“We believe strongly that communities grow and prosper when residents are fans of their local businesses,” says FanBank President David Clary. “We chose to launch FanBank in Memphis because the city has a great network of locally owned businesses and neighborhoods with unique identities. We hope the FanBank program will play a part in the city’s next chapter of growth.”

More than 100 businesses have already joined FanBank, including The Rendezvous, Memphis Pizza Café, Oak Hall and Gould’s Salons and Spas.

To join FanBank and play the contest, Memphians add FanBank to their debit or credit card at fanbank.com and spend $5 at five locally owned, participating merchants. FanBank sponsor The Memphis Grizzlies donated the prizes: courtside seats for a 2014/2015 game, a luxury suite for 16 at a 2014/2015 game and autographed jerseys.  

“FanBank is free to the consumer. Local business owners also do not pay to become FanBank participating businesses, and FanBank does not take a percentage of each credit card sale like Visa or MasterCard,” says FanBank Memphis Marketing Manager Lauren Lee. “Longer term, when a FanBank customer uses his or her card at a participating business, the merchant will issue a reward to the customer in the form of FanCoins, which the consumer can redeem for Best of Memphis rewards.”

Job-wise, FanBank is looking to grow its Memphis team later this year, according to Lee.

By Michael Waddell