CONCARDIS
Company and product name development for cashless and digital payments
How do you find a name for digital payment?
The reorganization of EURO Kartensysteme resulted in the founding of an independent acquiring company, which wants to position itself as a full-service provider of cashless payment transactions. This requires a new company name that also functions as a product name for said payment method. With the new name, the company wants to express the best price-performance ratio on the market, a close partnership as well as individual and flexible support.
EURO Kartensysteme is the market leader for MasterCard and Visa acceptance. At the same time, the company has no significant distinguishing features in acquiring. This is set to change following the renaming: The future positioning will become a unique selling point. The new company wants to be THE full-service provider for card retailers and all acceptance points. As a service-oriented and tech-savvy company that is open to all brands, it wants to become the national market leader across the board.
As per the initial formal requirements, the new name should neither be a meaningless abbreviation nor bear phonetic resemblance to EURO Kartensysteme. The name should, instead, express a strong unique position in competition, be timeless, concise and ready to be used in international contexts. Apart from competence and innovation, the new name should be compatible with the company's services and products.
After a thorough competitor analysis, Endmark starts to develop a name. The first generated name pool was subjected to technical tests on protectability, identity and similarity in competition as well as language tests. In a second step, marketing tests were carried out, including hearing & writing assessment, association and memory tests. Endmark developed three different name lines with a total of ten suggested names, with Concardis as the clear favorite.
Card, please!
Concardis originates from the created "card line", referring to the company's main feature: cashless payments with a catchy, easy-to-remember and internationally functioning name.
