Transcard, a leading provider of prepaid card solutions under the Transcard(TM) brand, announced today the December 2007 launch of Innovative Gift Card Solutions (IGCS), a gift card provider of STAR, Discover Network and MasterCard-branded gift cards. IGCS is a d/b/a of Innovative Processing Solutions (IPS) based in Chattanooga TN. Transcard recognized the need for cutting edge technology in this rapidly growing market segment that allows for flexible programs. IGCS will be offering traditional gift cards, open loop gift cards, SKU cards, shared wallet cards, merchandise return cards, incentive cards, and loyalty programs. IGCS can customize a unique program for each client taking stored value solutions into the future.
CHATTANOOGA, Tenn. (Business Wire EON) January 14, 2008 --
Transcard, a leading provider of prepaid card solutions under the
Transcard™ brand, announced today the December
2007 launch of Innovative Gift Card Solutions (IGCS), a gift card
provider of STAR, Discover Network and MasterCard-branded gift cards.
IGCS is a d/b/a of Innovative Processing Solutions (IPS) based in
Chattanooga TN. Transcard recognized the need for cutting edge
technology in this rapidly growing market segment that allows for
flexible programs. IGCS will be offering traditional gift cards, open
loop gift cards, SKU cards, shared wallet cards, merchandise return
cards, incentive cards, and loyalty programs. IGCS can customize a
unique program for each client taking stored value solutions into the
future.
According to Craig Fuller, CEO of Transcard, “IGCS
has been formed to offer stored value solutions to both open and closed
loop markets. This division will allow penetration into B2B markets, and
provide incentive-based and gift card solutions to an entire group of
new clients for Transcard.”
Camille Mauerhan, VP/GM of IGCS, stated, “The
Gift Card industry continues to increase in popularity for both
consumers and merchants alike. Gift card sales reached $26.3 billion
this holiday season. Merchants can no longer ignore this market segment.
It is critical for merchants to have a gift card processor that can
build a customized program for their unique business. IGCS is the future
of stored-value technology.”
About Transcard
Transcard is an industry leader in electronic transaction processing
services both domestically and internationally. Transcard offers
electronic funds transfer services including direct-to-card payroll
technology, electronic fuel and transaction processing, and global money
remittance and payment services. Transcard process over $960 million in
electronic transactions annually and expects to reach $1.2 billion in
2007.
About IGCS
IGCS is a wholly-owned subsidiary of Innovative Processing Solutions
(IPS), a tier 1 financial transaction processor. IPS operates a number
of subsidiaries that take advantage of the in-house core processing
technology such as Transcard, Pay2Card, FactorLane, Tran$fund$, and
TransMarkets. Innovative Gift Card Solutions (IGCS) is the innovator of
flexible gift card and loyalty solutions. IGCS is both a processor and a
program manager. Because the platform was built-in-house, IGCS can
develop and customize the entire stored value program to meet each client’s
need.
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