Vantiv Launches Open Loop Prepaid Gift Card Program
Poster: SySAdmin
Posted on May 1, 2012 at 7:42:01 AM
Vantiv Launches Open Loop Prepaid Gift Card Program
Financial Institutions Able to Consolidate Prepaid-Debit-Credit Card Needs
CINCINNATI, May 1, 2012 /PRNewswire/ -- Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, announced today the launch of its single-load prepaid gift card product. The open loop single-load gift card can be co-branded by participating financial institutions and used anywhere MasterCard® is accepted in the United States. It is the second open loop product to join the family of Vantiv Prepaid gift card programs. General purpose reloadable (GPR) cards were introduced to Vantiv clients in late 2011.
(Logo: http://photos.prnewswire.com/prnh/20110628/CL27165LOGO )
"Vantiv now offers a comprehensive suite of debit, credit and gift card solutions built on an integrated, single point-of-entry platform," said Bill Weingart, Chief Product Officer at Vantiv. "By consolidating all of their needs to one provider, on one platform, our financial institution customers are able to reduce costs, increase efficiency, and respond to market changes faster and with more confidence."
The demand for open loop prepaid gift cards is still increasing, according to the Mercator Advisory Group, an independent payment and banking research firm. It is estimated that in 2012, more than $18 billion will be loaded onto open loop prepaid gift cards, across 18 million cards sold, and this is expected to grow to almost $24 billion loaded across 430 million cards by 2014.* Like all Vantiv card programs, the products are safe and secure, utilizing comprehensive controls on fraud monitoring, regulatory compliance, and full cardholder customer service support. Design features and account activation are easily managed through Vantiv's secure management portal.
"We continue to develop more flexible and convenient solutions for our customers through our products and services," said Royal Cole, President, Financial Institution Services at Vantiv. "Financial institutions will gain a competitive advantage by making these versatile cards available to consumers for shopping during the summer months and with plenty of time to build inventory for the holiday giving season. This new offering demonstrates Vantiv's commitment to provide our clients with comprehensive solutions and best-in-class payment products."
Vantiv representatives will be available at Booth 407 during the Card Forum Annual Meeting & Expo in Orlando, Florida, May 9 - 11, 2012 to demonstrate the comprehensive suite of prepaid products as well as Vantiv Analytics, a powerful, one of a kind software solution designed to make it easier for financial institutions to optimize their debit card portfolios.
*Source - Mercator Prepaid Market Forecast report 2011-2014. Issued November 2011.
About Vantiv, Inc.
Vantiv, Inc. (NYSE: VNTV), is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes in the U.S., enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company's growth strategy includes expanding further into high growth payment segments, such as prepaid, ecommerce, mobile and information solutions, and attractive industry verticals, such as business-to-business, government, healthcare and education. For more information, visit http://www.vantiv.com.
©Copyright Vantiv, LLC. All rights reserved. Vantiv, the Vantiv logo, and all other Vantiv product or service names and logos are registered trademarks or trademarks of Vantiv, LLC in the USA and other countries. ®indicates USA registration.
CONTACT:
Lynn M. Rhoads, Senior Vice President
Communications Director
513.900.4942
lynn.rhoads@vantiv.com
SOURCE Vantiv, Inc.
Vantiv, Inc.
Web Site: http://www.vantiv.com
Financial Institutions Able to Consolidate Prepaid-Debit-Credit Card Needs
CINCINNATI, May 1, 2012 /PRNewswire/ -- Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, announced today the launch of its single-load prepaid gift card product. The open loop single-load gift card can be co-branded by participating financial institutions and used anywhere MasterCard® is accepted in the United States. It is the second open loop product to join the family of Vantiv Prepaid gift card programs. General purpose reloadable (GPR) cards were introduced to Vantiv clients in late 2011.
(Logo: http://photos.prnewswire.com/prnh/20110628/CL27165LOGO )
"Vantiv now offers a comprehensive suite of debit, credit and gift card solutions built on an integrated, single point-of-entry platform," said Bill Weingart, Chief Product Officer at Vantiv. "By consolidating all of their needs to one provider, on one platform, our financial institution customers are able to reduce costs, increase efficiency, and respond to market changes faster and with more confidence."
The demand for open loop prepaid gift cards is still increasing, according to the Mercator Advisory Group, an independent payment and banking research firm. It is estimated that in 2012, more than $18 billion will be loaded onto open loop prepaid gift cards, across 18 million cards sold, and this is expected to grow to almost $24 billion loaded across 430 million cards by 2014.* Like all Vantiv card programs, the products are safe and secure, utilizing comprehensive controls on fraud monitoring, regulatory compliance, and full cardholder customer service support. Design features and account activation are easily managed through Vantiv's secure management portal.
"We continue to develop more flexible and convenient solutions for our customers through our products and services," said Royal Cole, President, Financial Institution Services at Vantiv. "Financial institutions will gain a competitive advantage by making these versatile cards available to consumers for shopping during the summer months and with plenty of time to build inventory for the holiday giving season. This new offering demonstrates Vantiv's commitment to provide our clients with comprehensive solutions and best-in-class payment products."
Vantiv representatives will be available at Booth 407 during the Card Forum Annual Meeting & Expo in Orlando, Florida, May 9 - 11, 2012 to demonstrate the comprehensive suite of prepaid products as well as Vantiv Analytics, a powerful, one of a kind software solution designed to make it easier for financial institutions to optimize their debit card portfolios.
*Source - Mercator Prepaid Market Forecast report 2011-2014. Issued November 2011.
About Vantiv, Inc.
Vantiv, Inc. (NYSE: VNTV), is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes in the U.S., enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company's growth strategy includes expanding further into high growth payment segments, such as prepaid, ecommerce, mobile and information solutions, and attractive industry verticals, such as business-to-business, government, healthcare and education. For more information, visit http://www.vantiv.com.
©Copyright Vantiv, LLC. All rights reserved. Vantiv, the Vantiv logo, and all other Vantiv product or service names and logos are registered trademarks or trademarks of Vantiv, LLC in the USA and other countries. ®indicates USA registration.
CONTACT:
Lynn M. Rhoads, Senior Vice President
Communications Director
513.900.4942
lynn.rhoads@vantiv.com
SOURCE Vantiv, Inc.
Vantiv, Inc.
Web Site: http://www.vantiv.com