InComm Launches Digital Visa Cards for Loyalty, Incentives (Jan. 21, 2016)
InComm is bringing its line of Visa-branded gift and reward cards to the digital realm, announcing the launch of new digital versions of the cards for use in incentive and loyalty programs. The cards can be delivered to an email address and are redeemable at any U.S.-based e-commerce site that accepts Visa debit. The digital cards are being released under the umbrella of InComm Digital Solutions, the platform created in 2013 after InComm acquired digital gifting specialist Giftango.
Gift cards are highly valued rewards by customers and employees enrolled in loyalty and incentive programs. A 2014 study by the Incentive Research Foundation found that open-loop gift cards were the preferred reward in 56 of programs from companies with annual revenue of more than $100 million. Recent InComm research also revealed that 55 percent of consumers are interested in storing digital gift cards on their phone for their own use. However, challenges relating to managing inventory, reporting and reconciliation have held many companies back from offering digital open-loop, InComm noted. Those issues are mitigated by offering cards through InComm Digital Solutions platform, which is specifically designed for managing digital stored-value products, the company says.
In other InComm news, the company showcased its payment switching solution at the National Retail Federation’s BIG Show earlier this week. InComm Switch provides merchants with payment processing services for credit, PIN debit, EBT, FSA/HAS and electronic check acceptance. Switch also is used by a major U.S. pharmacy chain to handle prescription adjudication requests numbering up to 5 million a day and power a 90-million member loyalty program, InComm said.