Content about Stored-value card

April 7, 2014

While a majority of the most popular prepaid debit cards charge monthly fees, specific fee structures vary widely.

New York – While a majority of the most popular prepaid debit cards charge monthly fees, specific fee structures vary widely. According to a study of 30 of the most widely held prepaid debit cards conducted by Bankrate.com, 83% of the prepaid cards surveyed charge monthly fees, but 33% will waive them, typically based upon the amount loaded onto the card.

March 12, 2014

Severe winter weather hindered shopping activity in February, according to First Data Corp.'s SpendTrend report, which tracks same-store POS data by credit and debit cards, closed loop prepaid cards, EBT, and checks from the nearly four million retail locations serviced by First Data.

Atlanta -- Severe winter weather hindered shopping activity in February, according to First Data Corp.'s SpendTrend report, which tracks same-store POS data by credit and debit cards, closed loop prepaid cards, EBT, and checks from the nearly four million retail locations serviced by First Data.

Consumer spending was also restrained by the termination of emergency unemployment insurance, a reduction in food stamp benefits and low-income growth, First Data said.

November 18, 2013

Dollar volume growth in credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations in October 2013 was 6.8%, an uptick from the prior month’s growth of 5.3%.

Atlanta -- Dollar volume growth in credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations in October 2013 was 6.8%, an uptick from the prior month’s growth of 5.3%. First Data Corporation’s First Data SpendTrend analysis shows the growth was supported by the onset of cooler temperatures, which drove sales of seasonal merchandise and early holiday advertising attracting shopper foot-traffic.

October 1, 2013

Consumers prefer prepaid cards that can be used anywhere to gift cards from specific retailers and physical cards to digital cards.

Lewisville, Texas – Consumers prefer prepaid cards that can be used anywhere to gift cards from specific retailers and physical cards to digital cards.

According to the new “People Prefer Prepaid Rewards” study from Parago, more than half of shoppers prefer prepaid cards over gift cards from Amazon, iTunes, Target, Walmart, Home Depot and more. In addition, two out of three shoppers prefer physical cards over digital cards.

August 27, 2013

Stored value gift cards have become a staple item in many retailers' holiday assortments. Last year the NRF estimated U.S. consumers would spend close to $29 billion on gift cards during the holiday shopping season, and there is no reason to think the trend is slowing down.

February 12, 2013

A report released by First Data Corp. found that dollar volume growth rebounded in January, improving to 6.2% versus 4% in December despite the payroll tax increase.

Atlanta -- A report released Tuesday by First Data Corp. found that dollar volume growth rebounded in January, improving to 6.2% versus 4% in December despite the payroll tax increase.

The First Data SpendTrend report, which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations, found that improved retail spending was a large contributor to the January growth.   

October 25, 2012

By Mark Putman

Perhaps no time of year epitomizes the evolving trend of the integrated consumer buying experience more than the holiday season. Buyers are quickly realizing that rather than spending hundreds on gifts destined to be quietly returned come January 2013, the most efficient use of their money centers on gift cards and other prepaid methods that offer the recipients flexibility and choice. 

October 2, 2012

Wal-Mart Stores said that it is launching a new service called Rapid Reload, which allows customers to load money onto prepaid cards.

Bentonville, Ark. -- Wal-Mart Stores said Tuesday that it is launching a new service called Rapid Reload, which allows customers to load money onto prepaid cards.

The service is affiliated with Green Dot Network, InComm's Vanilla Reload Network and First Data's Money Network.

For a fee of $3.74, the program allows customers, effective immediately, to add money to their card at a store register.

September 12, 2012

irst Data Corp. reported that consumers responded well to back-to-school and summer clearance sales in August, prompting an increase in August same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations.

Atlanta -- First Data Corp. reported Wednesday that consumers responded well to back-to-school and summer clearance sales in August, prompting an increase in August same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations.

July 19, 2012

The Western Union Co. and Dollar General Corp. said that they have executed an agreement to begin offering two Western Union general-purpose reloadable prepaid cards at Dollar General’s more than 10,000 stores in 40 states.

Englewood, Colo. -- The Western Union Co. and Dollar General Corp. said that they have executed an agreement to begin offering two Western Union general-purpose reloadable prepaid cards at Dollar General’s more than 10,000 stores in 40 states.

Dollar General is now offering the Western Union MoneyWise and co-branded Western Union Telemundo cards.

July 11, 2012

A report by FirstData Corp. found that year-over-year dollar volume growth was 6.4% in June, down from May’s 7.0% growth as continuing high unemployment and economic anxiety caused consumers to pull back on spending.

Atlanta -- A report by FirstData Corp. found that year-over-year dollar volume growth was 6.4% in June, down from May’s 7.0% growth as continuing high unemployment and economic anxiety caused consumers to pull back on spending. The report tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations.

May 10, 2012

NetSpend Holdings said it has entered into a distribution agreement with Family Dollar to sell the NetSpend Visa prepaid debit card at the discounter’s store locations nationwide.

Austin, Texas -- NetSpend Holdings said Thursday it has entered into a distribution agreement with Family Dollar to sell the NetSpend Visa prepaid debit card at the discounter’s store locations nationwide.

Family Dollar and NetSpend plan to make the prepaid cards available in more than 7,200 locations beginning this month, NetSpend officials said.
 

March 16, 2012

The average gift card dollar volume growth on a year-over-year basis increased 10% during the last six months of 2011, with consumers shopping earlier in the holiday season for prepaid cards and adding more value to their purchases than in 2010, according to a study by First Data Corp.

New York -- The average gift card dollar volume growth on a year-over-year basis increased 10% during the last six months of 2011, with consumers shopping earlier in the holiday season for prepaid cards and adding more value to their purchases than in 2010, according to a study by First Data Corp.

February 9, 2012

By Shannon Martin, shannon.martin@onlinemediapartner.com

There are a variety of new technologies that will become available throughout 2012 to small business owners looking for ways to process credit and debit cards. In the past, business have had to rely on costly terminals purchased from merchant account providers who charged not only for the equipment, but also for the processing of the cards used by a business’ customers.

November 21, 2011

Dollar General is now accepting MasterCard credit cards at all of the nearly 10,000 Dollar General locations across the country, expanding on previous acceptance of MasterCard debit and prepaid cards.

Purchase, N.Y. -- Dollar General is now accepting MasterCard credit cards at all of the nearly 10,000 Dollar General locations across the country, expanding on previous acceptance of MasterCard debit and prepaid cards. 

“Dollar General was the first among small-box value discounters to roll out readers for electronic benefits cards and bank debit and credit cards, making transactions even more convenient for customers.

November 15, 2011

American Express announced that it has launched Target prepaid cards featuring email and text alerts.

New York City -- American Express announced Tuesday that it has launched Target prepaid cards featuring email and text alerts.

The cards, sold exclusively at Target stores, work like debit cards and can be reloaded with cash, and are usually marketed to lower-income consumers who don't have credit cards or checking accounts. Fees on cards can range widely depending on the issuer.

October 27, 2011

Neiman Marcus announced Thursday that it had entered into agreements with Visa and MasterCard to begin, effective Nov. 1, accepting MasterCard and Visa credit, debit and prepaid cards at all 41 Neiman Marcus stores.

Dallas -- Neiman Marcus announced Thursday that it had entered into agreements with Visa and MasterCard to begin, effective Nov. 1, accepting MasterCard and Visa credit, debit and prepaid cards at all 41 Neiman Marcus stores.

The luxury retailer had long been criticized for accepting only its private-label credit cards, American Express and cash.

"We listened to our customers and heard that they wanted more flexibility in their payment choices," said Karen Katz, president and CEO, Neiman Marcus.
 

June 20, 2011

The growth of gift cards has been nothing less than phenomenal. But while gift cards have come to provide a critical source of earnings, they also face an intensifying regulatory environment, including tax and financial reporting for gift cards, that has become increasingly complex.


April 18, 2011

A report released Monday by First Data Corp., which tracks year-over-year same-merchant activations, redemptions and reloads of merchant-branded prepaid cards in the United States, including spending, gift, incentive and promotional cards, revealed that delayed post-holiday redemptions and incentives drove activations in first quarter 2011.

Atlanta -- A report released Monday by First Data Corp., which tracks year-over-year same-merchant activations, redemptions and reloads of merchant-branded prepaid cards in the United States, including spending, gift, incentive and promotional cards, revealed that delayed post-holiday redemptions and incentives drove activations in first quarter 2011.

March 24, 2011

By Giles Sutton, J.D., LL.M, Grant Thornton LLP

By Giles Sutton, J.D., LL.M, giles.sutton@us.gt.com

Gift-card sales have surged in recent years. With electronic or virtual gift cards and mobile applications that allow consumers to purchase and redeem gift cards from their mobile/smartphones, sales only continue to grow. While consumers flock to them for their flexibility, businesses have embraced them as a means to increase sales. Not only are buyers spurred into making new purchases, but they often spend more than the gift-card amount.

December 15, 2010

First Data Corp. reported Wednesday that dollar volume growth of prepaid card activations was 8.6% in November, a significant increase over November 2009, when activations declined -2.7%.

Atlanta -- First Data Corp. reported Wednesday that dollar volume growth of prepaid card activations was 8.6% in November, a significant increase over November 2009, when activations declined -2.7%.

November 15, 2010

A report released Monday by payment solutions provider First Data Corp. found that year-over-year October dollar volume growth of activations of closed-loop prepaid cards was 2.7%, down from 8.9% year-over-year growth in September.

Atlanta -- A report released Monday by payment solutions provider First Data Corp. found that year-over-year October dollar volume growth of activations of closed-loop prepaid cards was 2.7%, down from 8.9% year-over-year growth in September.

The First Data SpendTrend Closed-Loop Prepaid Cards analysis tracks U.S. same-merchant activations, redemptions and reloads of merchant-branded prepaid cards, including spending, gift, incentive and promotional cards.

August 31, 2010

Gift cards are a perennial favorite during the holidays, with the months of November...

August 26, 2010

As a previous Chain Store Age guest commentary from May 7, 2010 outlined, the Federal...

By David S. Almeida, dsalmeida@michaelbest.com

As a previous Chain Store Age guest commentary from May 7, 2010 outlined (available here), the Federal Reserve Board recently issued new federal regulations governing the provision of retail gift cards.

May 6, 2010

Prompted by Congress’s recent passage of the Credit Card Accountability and Responsibility Disclosure Act of...

By David S. Almeida and David M. Caves, dsalmeida@michaelbest.com, dmcaves@michaelbest.com