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Transcard establishes gift card unit

14 January 2008  |  1707 views  |  0 Source: Transcard

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."

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