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August 16, 2010

Small retailers’ latent demand for gift cards

Merchant acquirers will be able to offer store-branded prepaid gift cards tosmall retailers through a RetailCardShop solution designed by card customisationbusiness Serverside. It will take advantage of what Tom Elgar, co-founder and CTO ofServerside, described as "a latent demand" among smaller shops for own-branded prepaid products

By Verdict Staff

Merchant acquirers will be able to offer store-branded prepaid gift cards to small retailers through a ‘RetailCardShop’ solution designed by card customisation business Serverside.

It will take advantage of what Tom Elgar, co-founder and CTO of Serverside, described as “a latent demand” among smaller shops for own-branded prepaid products. The cards will be open-loop prepaid cards. Retailers that take up the scheme will be able to design their own cards and promotional posters for the products using Serverside’s personalisation technology.

The RetailCardShop solution runs on the merchant acquirer’s existing POS terminal and enables custom printing of high quality cards with no minimum quantity.

“Not only does it enable [merchant acquirers] to offer store-branded gift card programs to all retailers, which has been unthinkable until now, it also ties in the merchant and enables the merchant acquirer to participate in any profits made,” added Elgar.

“It is an end-to-end, fully integrated solution for merchant acquirers, covering the self-service design of the cards by the individual merchant and the production and processing of the physical cards to the all-important integration with the POS device.”

Serverside claims that the RetailCardShop solution means an end to the idea that gift card programs have to be limited to the largest high street retailers. Small shops will now be given the chance to differentiate themselves from their competitors.

Serverside has teamed up with processor Gemalto for the project, its first major collaboration with the business since Gemalto bought a stake in Serverside in November 2009.

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