CashStar launches interactive gift card platform
Portland, Maine, (AllPayNews)-- CashStar, the interactive gift card and incentives company, today unveiled its powerful e-gifting, marketing and promotions platform. The CashStar platform enables businesses and consumers to securely e-mail monetary value such as Interactive Gift Cards, rewards, incentives and rebates. Several companies, including Uno Chicago Grill, Travelocity Incentives and Gorham Bike & Ski, are already offering Interactive Gift Cards via the CashStar platform. In addition, the company disclosed that is has secured more than $4 million in funding.
CashStar’s offering provides unique benefits for both consumers and retailers. For consumers, CashStar offers the most convenient and secure way to send a personalized gift via email. For retailers, CashStar provides an alternative to costly plastic cards and enables them to add personalized promotions to every card, helping to drive traffic and increase average purchase size. CashStar fills a specific industry need with the only Interactive Gift Card solution available today with extensive personalization and promotion capabilities.
“Gift cards make perfect last-minute gifts, so when we met with CashStar, we knew we needed their solution in time for our important holiday season. The CashStar team implemented our virtual gift card offering within a two-week timeframe – just in time for the holidays,” said Rick Hendrie, senior vice president, marketing, Uno Chicago Grill. “By offering a virtual gift card that could be emailed to recipients we more than doubled gift card sales through our website during the last two weeks of December.”
More than a Gift Card: CashStar’s Marketing Network
CashStar was incubated by Coupons, Inc., the leading U.S. provider of consumer-printed coupon marketing and technology solutions. CashStar utilizes Coupons, Inc.’s secure print barcode technology foundation to provide a secure payment technology platform. The company also leverages Coupons, Inc.’s extensive network to promote its customers’ unique Interactive Gift Card offerings. CashStar merchants have access to a proven online network that exposes their Interactive Gift Card to millions of potential customers on the Web. This gives CashStar significant competitive advantages in promoting and driving sales for its retail partners.
“Coupons.com has been incredibly successful at connecting online and physical markets as consumers shift from newspaper to the Web,” commented Steven Boal, Coupons, Inc.’s president and CEO. “We anticipate that the same will happen in the gift card market, as more consumers shift from plastic gift cards to quick, easy and eco-friendly virtual gift cards that can be redeemed online or in-store. There is a huge market opportunity for CashStar’s technology.”
The CashStar Platform
CashStar’s platform enables the highest levels of service and marketing innovation for gifting, incentives and rewards. Major features of the platform include:
* eGifting: A best-in-breed gifting solution that creates the most optimal purchaser and recipient gift experience. These fully engaged customers will result in higher gift card sales.
* Intelligent Brand and Design Management: Smart image and design management that enables retailers to develop or select images for their gift cards and incentive offerings that reflect their brands and can be personalized to help attract and retain more customers.
* Marketing and Promotions: The gift card industry’s only marketing and promotions tool kit that enables retailers to embed offers and coupons into their gift cards for both the sender and the recipient – making them truly interactive. The tool kit includes complete tracking and analytic capabilities.
“The payments market is quickly evolving and the demand for prepaid and gift cards continues to explode. While we’ve witnessed significant growth in the physical plastic form factor in recent years, the potential market opportunity for innovation online with new form factors is huge,” said David Stone, CEO of CashStar. “Having already delivered our solution to retailers across several verticals, we feel well-poised to capitalize on this important new category of Interactive Gift Cards.”
The CashStar senior management team brings deep technology, payments and gift card experience from market-leading companies including American Express, Blackhawk Network, inComm, Coinstar, Wright Express, IBM, Hewlett-Packard and L.L. Bean.
About Coupons, Inc.
Coupons, Inc. is the global leader in interactive coupon solutions, providing clients with complete coupon promotional opportunities that appeal to key customer demographics. Its innovative marketing technology solutions help top brands and retailers reach consumers on thousands of Web sites, via email, and over mobile devices with the most flexible, effective, and secure alternative to offline-delivered coupons. Coupons, Inc. clients and licensees include the majority of top consumer packaged goods and brands and key retailers, such as Johnson & Johnson, General Mills, Kimberly Clark, Kraft Foods, Clorox, Safeway, Kroger, and Valassis (NYSE: VCI). Coupons.com, its consumer Web site, is the largest printable coupon website on the Internet. Based in Mountain View, CA, the company is a 2008 winner of the Red Herring 100 North America award, recognized as a company leading the next wave of innovation on the Internet. Learn more about Coupons, Inc. at http://www.couponsinc.com .
About CashStar, Inc.
CashStar is the interactive gift card and incentives company. Its powerful e-gifting, marketing and promotions platform helps leading brands increase online and in-store traffic and improve lift. CashStar makes it possible for businesses and consumers to securely e-mail monetary value such as Interactive Gift Cards, rewards, incentives and rebates. The Company offers the market’s strongest dynamic, customizable messaging system, enabling consumers and marketers to give gift cards with a very personal touch. Leveraging its exclusive affiliation with Coupons, Inc., the leading global solutions provider of consumer print-at-home coupons, CashStar offers its partner brands unparalleled online reach for promoting their unique Interactive Gift Card offerings. For more information about CashStar please visit www.cashstar.com .
Source: Company press release.