A Stored Value Card- And Then Some

R etailers know that when it comes to getting customers through the checkout process, time is money. Any product or service designed to simplify and shorten the process of paying for purchases for both customer and merchant can create a more positive shopping experience on both ends.

Stored value cards are becoming an important element for retailers to consider. As marketing tools and methods of payments, stored value cards can put the latest technology to work for merchants of all types and sizes.

Plastic stored value cards for the retail environment are quickly replacing paper gift certificates. Private-label gift cards provide the same function as gift certificates with a slew of options for merchants - gift cards with the store's name, loyalty cards to bring customers back again and again, promotion cards, electronic coupons, frequent shopper cards and merchandise credits all contribute to a better overall experience.

Praxell and Hypercom have introduced the first Internet-based "Plug 'N' Work" cash, gift and promotion/loyalty card solution for retailers. Praxell's IP-based stored value transaction services are now integrated into Hypercom's epic ICE 7000CE card payment terminal. This brings together Praxell's state-of-the-art, multichannel, stored value solution and Hypercom's easy-to-use, Internet-enabled equipment.

The advantage to retailers using the "Plug 'N' Work" system is that they are immediately able to offer electronic gift, cash and loyalty cards to their customers. "Plug 'N' Work" is a complete turn-key solution with immediately seen benefits that will improve business without stressing IT resources. The need for separate additional services and equipment is eliminated, leaving just the opportunity for retailers to sell their own private label cards, generating revenue and retaining customers.

The Praxell solution also has multichannel, multifunction and multivalue stored value features. Merchants can completely manage their own stored value programs.

Called the Merchant Services Pavilion, the Web-based service enables any card to be a cash card, gift, merchandise credit or loyalty and promotion card. Any card can be used to store, track and transact credit and debit, airline miles, automatic spending rewards, etc.

All customer cards can be used through any merchant sales channel, such as in-store, online, catalogs, kiosks, vending machines, cell phones and PDAs.