Enhancing Features from Consumer Feedback
By Debbie Hall
The holidays are here (regardless of what is going on in the world) with gift shopping, especially for wine lovers. Shopping with the Grand Reserve World Mastercard will give points that can be redeemed in the Grand Reserve Rewards catalog including books, decanters, accessories, wine experiences, and getaways.
Food & Beverage Magazine recently spoke with Matthew Goldman, Vertical Finance Founder and CEO founder (Grand Reserve World Mastercard), about the credit card designed for wine lovers.
Food & Beverage Magazine: How is this credit card different?
Matthew Goldman: We offer benefits, including rewarding consumers as they spend on one of their favorite things—wine. We also want to connect wine lovers with new and unique producers. There are so many boutique and smaller wineries that produce delicious wine at great price points that we want to introduce to our cardmembers. I am not aware of any other wine credit cards on the market, only the ones connected with retail or travel.
F&B: You developed this card from a passion for wine. How is it changing concerning the lifestyle and preferences of its cardholders?
Matthew Goldman: We are continually listening to feedback from our consumers and winery partners in the industry. We are planning on building out more features. This is not a simple credit card that offers rewards. After post-COVID, there will be discounts for tasting rooms and access to wine experiences. At the present time, we are offering online experiences as a benefit to being a member. We want to help people connect to the passion for wine and facilitate that experience.
F&B: Why is this not considered a card linked to a retailer?
Matthew Goldman: We connect with many retailers and merchants. Wineries are a form of a retailer since they are producing the wine as well as selling it. We offer over 430 wineries across the US as our partners. Using our card, members can shop at any wine store or winery since the hobby is so broad. We all love wine, so we want to reward our members.
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F&B: Do you approach wine producers, or do they approach your company?
Matthew Goldman: In the beginning, we first looked at what kind of wines would appeal to our future members. We approached those producers, usually smaller, sometimes 20,000 cases or less. We look for quality and taste at a cost range from $20 to $100. Many producers were very excited to join us, and now wineries approach us as we continue to grow.
The newest development is the exclusive partnership with ProofLoyalty, a marketplace boasting a premier collection of fine wines and experiences. The Grand Reserve World Mastercard has now launched a Pay with Points wine marketplace where cardmembers can redeem reward points for wines from several of the world’s finest producers.
ProofLoyalty’s wine professionals work directly with many wineries offering verticals, library wines, favorites, and new discoveries. Cardmembers can purchase wine or redeem points in ProofLoyalty’s marketplace. Cardmembers earn 5x points per dollar on purchases made within its network including ProofLoyalty. Members receive special cardmember-only offerings and early-access allotments to special events or collection items. Its marketplace is open to non-cardmembers to purchase wine.
With the Grand Reserve credit card, wine lovers will earn 5x points per dollar over 430 Grand Reserve Partners, including boutique wineries across the country, and wine clubs; 3x points per dollar at any winery, wine club, or wine shop; and 2x points per dollar at all other merchants. Cardholders will also receive a premium metal card, a complimentary wine magazine subscription, exclusive event invitations, and a complimentary Priority Wine Pass membership.
Grand Reserve World Mastercard offers credit card innovation and lifestyle-focused reward points for non-travel redemption. Cardmembers and non-cardholders are invited to shop the store by clicking here. Learn more and sign up at grandreserverewards.com. The full list of Grand Reserve partner wineries may be viewed by clicking here.
