LONDON and DALLAS, Feb. 09, 2004 (PRIMEZONE) -- Trintech (Nasdaq:TTPA); (Prime Standard:TTP), a leading provider of transaction management and payment infrastructure solutions, today announced the launch of PayWare GiftCard. Building upon Trintech's existing gift card success with retailers such as TJX, AT&T Wireless and Marsh Supermarkets, PayWare GiftCard allows retailers to set-up and run their electronic gift card program in-house in a cost effective manner.
Since 1997, sales of gift cards in the U.S. have grown 15 percent to 35 percent annually, with 2003 sales estimated at $45 billion, according to a Bain & Company study. As demand for gift cards continue to grow, many retailers, especially in Europe, are now evaluating the operational costs of their current paper based systems and are seeking cost efficiency by migrating to electronic gift card processing. In addition, retailers with existing out-sourced electronic gift card solutions are also evaluating their per transaction based fee structures and the alternative cost benefits of migrating to in-house gift card programs with additional customer benefits. With a high level of functionality and an easy-to-use interface, any retailer can launch and manage a gift card program using PayWare GiftCard.
Trintech has incorporated the sophisticated gift card features from its existing PayWare product suite into the newly-launched PayWare Gift Card. PayWare GiftCard supports a wide array of transactions, including new gift certificate activation, refunds, exchanges and returns along with being able to add additional value -- all on the same card. The product integrates easily with in-store payment solutions using standard interface specifications and also supports access via Interactive Voice Response Telephone, Internet and other electronic channels. The user friendly system offers retailers a more cost effective implementation solution through the use of scalable, high availability and efficient Unix platform.
"The last few years have seen a dramatic increase in the demand and usage of electronic gift cards, particularly in the US," said Tom Trainor, EVP of Global Sales at Trintech's Enterprise Division. "The growth in consumer demand and the clear business efficiencies are compelling reasons for retailers worldwide to move away from paper-based systems to electronic gift cards. In addition, an in-house gift card solution is more cost effective, and allows greater control and flexibility than an outsourced solution. Trintech's PayWare GiftCard provides all the tools a retailer needs to manage their own electronic gift card program."
Product Overview
PayWare GiftCard is a secure, cost-effective electronic gift card solution that can immediately replace expensive paper gift certificates with faster, lower cost electronic gift cards. Unlike outsourced gift card solutions, PayWare GiftCard gives retailers greater control over their operations by managing their gift card program in-house delivering lower operating costs as volumes increase.
Along with reducing processing costs, the solution gives retailers greater flexibility to grow their revenues by integrating gift cards into their overall promotional strategy through support of loyalty and promotions. PayWare GiftCard makes it easy to launch promotional cards valid for store sales or holiday season shopping or to attract new customers.
About Trintech
Trintech is a leading provider of transaction management and payment infrastructure solutions to financial institutions, payment processors, enterprise retailers and network operators globally. Built on over 15 years of experience, Trintech's solutions manage each area of the payment transaction cycle from authentication, authorization, settlement, dispute resolution and reconciliation -- enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353 1 2074000), in the US at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: +1 972 701 9802), and in the UK at 186-192 Darkes Lane, Potters Bar, Hertfordshire, EN6 1AF (Tel: +44 (0) 1707 827000). www.trintech.com
To view this press release in pdf format, please click on the link below: http://hugin.info/130706/R/933168/128380.pdf