Moneris Solutions Rolls Out Small Business Gift Card Program; Gift Cards Deliver Big Rewards
Gift Cards Deliver Big Rewards for Small Businesses In the Form of Increased Sales and Enhanced Customer Service
CHICAGO--(BUSINESS WIRE)--May 30, 2006--Small businesses can now offer their own Gift Card Programs, an option that is often cost prohibitive and complex for that market segment, thanks to an innovative new Gift Card Program from Moneris Solutions, Inc., one of North America's largest electronic transaction processors.
Gift cards were introduced around 1995, and since that time, their popularity has exploded. According to Tower Group, gift card dollar volume grew 50 percent from 2002 to 2003, totaling close to $45 billion in sales in 2003 - and future growth is estimated to be more than $90 billion in sales by 2007.
"Moneris' Gift Card Program allows businesses of all shapes and sizes to capitalize on this fast growing trend," said Larry Wine, president of Moneris Solutions U.S. Group. "To date the cost and complexity of gift cards has been prohibitive to small companies - Moneris is helping to change that. We are dedicated to serving small businesses and will continue to enhance our portfolio of solutions to give merchants the tools they need to maximize business efficiency and profitability."
Moneris' Small Business Gift Card Program is a cost-effective turnkey solution specifically designed for this market segment. Customized with the company name or logo, gift cards allow businesses to expand revenue, attract new customers and build brand awareness in an affordable, easy-to-use manner. With Moneris gift cards, customers decide on the value they wish to load on to the card, making them a perfect solution for all types of retailers, restaurants, flower shops, spas, and more.
The Small Business Gift Card Program provides merchants with:
-- New Merchandise: Gift cards act as a new product that can be prominently displayed at the point-of-sale or around the business to attract new customers and increase impulse purchases.
-- Ease of use: To activate a gift card, business owners swipe the wallet-sized card through the same Moneris point-of-sale solution they are using for credit and debit cards.
-- Revenue lift: According to J.C. Williams Group 47 percent of customers spend more than the initial face value of the card.
-- Captive Money: Gift Cards can only be used at your business, nowhere else.
-- Flexibility: Moneris' Gift Card Program is designed to let customers decide on the amount they wish to load on the gift card (from $1 to $250).
-- Enhanced Fraud Security: Unlike paper gift certificates, gift cards have enhanced security, since they cannot be as easily duplicated and have no value until activated by staff at the time of purchase.
-- Detailed Reporting: Access reporting online to view a summary or listing of all gift card transactions including date, time, gift card number, transaction type and transaction amount.
The Moneris Gift Card program is powered by Ernex, the loyalty and stored-value division of Moneris Solutions Corporation.
About Moneris Solutions
Moneris Solutions, Inc. (www.monerisusa.com) has a 30-year history as one of North America's largest electronic transaction processors, delivering advanced payment card processing capabilities through point-of-sale hardware, payment processing software, e-commerce solutions and a gift and loyalty program. Moneris provides transaction-processing services nationwide through numerous agent banks and serves the small to medium-sized business market through direct sales and strategic partnerships. A joint investment of the Royal Bank of Canada and the Bank of Montreal, which have assets in excess of $700 billion, Moneris Solutions serves more than 350,000 North American merchant locations and has a staff of over 1,100 employees. Moneris' U.S. headquarters are located outside of Chicago, IL.
Dave Groobert, 202-296-2002 ext. 101