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.
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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.
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By GlobalDataServerside 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.
