MasterCard can now partner with Banks in Canada

The Federal Competition Bureau in Canada recently said that it will no longer enforce a provision in the Competition Act that prevented banks from dealing with multiple credit card companies.

Look for MasterCard to develop Marketing Partnerships with many banks beyond their relationship with BMO. Companies like Visa have held a nice market position in Canada for quite some time now - will be interesting to see how this all plays out. I'm certainly for more competition and choice.

For more, visit: Banks free to carry rival plastic

Partnering in a down economy

Nortel, Circuit City, DHL, GM, Ford, etc..., are experiencing serious financial troubles to name a few. That being said, when considering who to partner with in these poor economic times, it's important to consider who they are, what their businesses are looking like and what trends are occurring in their industry or category. The last thing you want to do is affiliate to another brand that may be on a serious decline and ready to take you, your business and your customers with them in the wrong direction. It's more important than ever to not have all your eggs in one basket and select partners that will survive the uncertainty that will likely carry over through to 2010.

Some Tips....

1. Avoid longer term partnership agreements
2. Audit the prospective partners business and their industry (competitors)
3. Scrutinize their marketing channels, communications vehicles and plans for 2009
4. Ensure that their 'revised plans' can support and supplement your brand
5. Re-examine where the true opportunities for partnership exist