Mobile Wallet Media introduced an option for standardization in m-payments in an otherwise fractured. The “Merchant Customer Exchange” (MCX) was founded to allow a mobile or digital wallet to utilize any mobile payment technology adopted by a retailer, whom must be registered for a mobile wallet using the invention’s technology. The mobile payment service provider must also be integrated to work with the invention’s technology. The retailer just needs to login into the mobile app, verify store location and can then implement the standard mobile payment technology.
A new survey shows that nearly a third of teenagers are purchasing gift cards at gift card malls. The research also found that 48% of teen males purchase gift cards rather than purchase gift items for their families and friends throughout the year, while teen females purchased about 33% gift cards rather than gift items. The poll, commissioned by Stored Value Systems, discovered that males are more likely to purchase gift cards online (51%) than females (32%). Males (47%) are more likely than female teens (34%) to purchase gift cards with preset amounts on them, as compared to choosing an amount. Additionally, the survey of 603 college-bound teens reveals that the average number of gift cards teens purchased for friends and family over the past year was 4.3 gift cards. The average amount they loaded onto a gift card was $28.
A new survey shows that nearly 80% of Americans would rather receive a gift card to their favorite retailer than any other kind of gift. The research also showed that 91% of adults who had received holiday gift cards had redeemed them before the end of February. The survey conducted by Comdata’s Stored Value Systems found that 76% of adults purchased gift cards in the 2005 holiday season. Other findings: more than 50% say that they always or often add their own money when making a purchase with a gift card; of those purchasing holiday gift cards, two-thirds bought them in early December; eight respondents in 10 say that they spend more or the same amount on a gift card than they would on an alternate gift; and those who received gift cards during the 2005 holiday season were given an average of 2.6 cards, with an average value of $42.32.
Comdata’s Louisville-based Stored Value Systems has launched an electronic gift card program for Hyatt Hotels. The new cards can be purchased at any participating Hyatt Hotel, online and select retail outlets, including Staples and Kroger stores nationwide, in denominations up to $500. Louisville-based Stored Value Systems also began issuing the Panda Express gift card and the Schlotzsky’s restaurant chain gift card in September. In August SVS began issuing gift cards for the Atlanta Falcons. (CF Library 8/24/05; 9/30/05)
The first survey on children and gift cards shows that the majority of children aged 5-14 have received or purchased a gift card. The annual Stored Value Systems survey found that four out of five parents say that they have purchased a gift card for their child or that their child has received a gift card. In fact, parents say they purchased slightly more than three gift cards for children, both for their own or for others, in the past year with an average value of $29. On average, parents have purchased two gift cards for their own child in the past year. Seven in 10 children spend gift cards within one month of receiving them.
Americans expect to spend an average of $248 on gift cards during the upcoming holiday season, an increase from $223 in 2004 and $183 in 2003. A new survey shows that 70% have either purchased or received a gift card and of the 30% who have not, one-quarter say they are likely to make a first purchase this holiday season. The annual survey, conducted by Stored Value Systems, also found that on average, the number of cards purchased in the past year has increased from 4.5 to 6.5. The average value of gift cards purchased in the past year is $40, a fairly steady level for the past three years. Additionally, among those who have received gift cards, almost three-quarters use their cards up completely. More than 80% discard it when its value is depleted. One-third of gift card recipients redeem the entire value of the card within one month of receipt. All but about 6% have redeemed it after one year. Louisville-based Stored Value Systems introduced the first-ever magnetic-striped retail gift card in 1995.
Louisville-based Stored Value Systems and its Salt Lake City-based minority marketing partner, Gift Card Solutions, also announced an agreement to provide gift card services for Panda Express restaurants, the nation’s largest Chinese quick-service restaurant chain, with nearly 750 locations in 36 states. The gift cards are available to guests in any amount between $10 and $100. They can be used for food or beverages, and for individual meals as well as catering orders for groups. Stored Value Systems is a provider of electronic gift cards and other card-based transaction programs. Gift Card Solutions provides electronic-based gift products and services.
Louisville-based Stored Value Systems and its Salt Lake City-based minority marketing partner Gift Card Solutions announced an agreement to provide the first-ever gift card program for Schlotzsky’s, an international franchise restaurant chain with approximately 400 locations in 36 states and six foreign countries. The electronic gift card program allows Schlotzsky’s to provide its customers with an easy-to-administer program at the cash register or online at its website in denominations from $5 to $500. Stored Value Systems is a provider of electronic gift cards and other card-based transaction programs. Gift Card Solutions provides electronic-based gift products and services.
Stored Value Systems is now issuing gift cards for the Atlanta Falcons. The gift cards are available now exclusively at the new retail store, Falcons 365 in Perimeter Mall, and on the new website [www.falcons365.com]. Stored Value Systems, Inc. is one of the world’s leading providers of electronic gift cards and other card-based transaction programs and is a wholly owned subsidiary of Comdata Corporation, a business-to-business issuer and processor of payment cards.
Comdata’s Stored Value Systems has introduced the first magnetic stripe card “WIC” program in the State of Washington. This six-month demonstration replaces a paper voucher system with a plastic card used at grocery store check out. WIC is a federally funded supplemental nutrition program administered in all 50 states. Comdata Corporation is a business-to-business issuer and processor of payment cards.
Comdata’s Stored Value Systems has been greenlighted by the federal Food and Nutrition Service to proceed with its “Online WIC” EBT card-based transaction service. WIC, a federally funded supplemental nutrition program for Women, Infants and Children, is traditionally executed using a paper voucher system. SVS’ online version will eliminate paper and replace it with a plastic card making checkout at the register faster as well as cheaper for merchants to implement since, unlike smart cards, it does not require investment in special reader equipment. Comdata Corporation (www.comdata.com) is redefining the movement of money and information through technology for businesses, their customers and employees.
America West Airlines introduced the “America West Gift Card,” the first airline gift card in the USA. Customers can now purchase travel at local retailers including Kroger Co. stores, Fry’s and Smith’s, Valero Food Shops, Diamond Shamrock Corner Stores, Staples, Winn-Dixie, Bashas’, and other stores. The gift cards can also be used as employee incentives or to raise funds for non-profits. America West Airlines is the second largest low-cost airline in the U.S., serving 55,000 customers a day.