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Prepaid Payment Solutions
The Opportunity
In the fast-evolving world of Retail marketing, it is imperative to find new ways of attracting new and engaging existing customers to sustain sales growth. It is equally important for any organization to maintain and increase brand recognition to capture repeat customer visits.
Traditional Gift Voucher programs are designed to increase customer stickiness, but pose serious disadvantages compared to online Gift Cards: vouchers have intrinsic value and show high levels of shrinkage; vouchers can only be redeemed once, slowing customer adoption and lowering residual value (breakage); issuing and processing vouchers is a highly manual process that decelerates checkout processing; and lastly the form factor of gift vouchers poorly reflects the brand image of the retailer.
The Solution
Pine Labs closed-loop Gift and Prepaid Card solutions enable merchants of any size to offer a branded card solution to their customers. Engage new customers, drive incremental sales and enhance your customers’ experience with a program tailored to your needs. Our turnkey solutions supports closed-loop and multi-merchant redemption programs and provides secure distribution of your branded cards through 3rd party merchants.
Prepaid Payment Features
Secure real-time payment solution
Retailers can advertise and display cards prominently in stores without fear of theft and fraud.
Multi-redemption model
Customers can spend the balance on their accounts over time, and reload the value at the POS using cash or credit cards. This allows retailers to lock in future revenue, achieve higher repeat traffic and win greater float and breakage income.
Secure mobile payments
Gift and Prepaid accounts can securely be bought and redeemed at the POS using a mobile wallet. This saves the cost of card production, extends an added convenience to the customer and allows for fast distribution, especially for corporate bulk orders.
3rd party sales and reload
Gift and Prepaid cards can be sold and reloaded at participating 3rd party outlets – greatly increasing reach and distribution.
Highly configurable card management
Marketing Team manages parameters centrally to support overarching marketing objectives. Team can set specific discounts, restrictions, validity, artwork and store-level inventory to manage multiple card schemes targeted at different customer segments.
Corporate online sales
Corporate purchasing officers can place bulk orders, upload their end-user information and manage accounts conveniently online. It can even integrate with payroll systems to automatically deduct funds for prepaid accounts.
Customer self-service
Customers can check their account status, request replacements and purchase cards online.
Full-service solution
Pine Labs provides card production, customer enrolment, inventory management, and customer service for a one-stop solution suitable for small and large retailers.
Rides on existing POS infrastructure
The solution runs on Plutus application, requires minimal integration with Billing software and no hardware investment.
How it works
Retailer installs Gift Card application on POS (integrated with Plutus).
Retailer centrally sets rules of Gift & Prepaid program, including discounts offered at the POS, product restrictions, expiration terms and available denominations; inventory and ordering is also handled centrally online.
Customer picks a Gift Card, pays for it at check out and Cashier activates the card with a swipe.
Customer gifts the Card to a recipient.
Recipient visits any of the Retailer’s stores, chooses purchases and proceeds to check out.
Cashier swipes Gift Card like a credit card, POS confirms transaction and prints charge slip.
Customers can use website to check balances, reload cards, purchase new cards or request a replacement for a lost card.
Benefits
Enhanced brand recognition
Superior form factor versus paper vouchers; “front of wallet” branding.
Increased revenue
Higher traffic and trial and adoption from new customers lifts sales over 50%.
Higher margin sales
40% of Gift Card purchases are at full-price, versus 15% average.
Working capital
Generates valuable float to reinvest in business growth.
Reduced fraud
Eliminates risk of shrinkage associated with offline paper vouchers, and allows for wide distribution through alternative channels like SMS and email.
Automated processing
Accelerated check-out and streamlined back-office operation, with real-time monitoring and rich MIS.
Customer satisfaction
Convenient consumer alternative to cash payments – with added benefit of locked in future revenue.
Next Step!
Interested?
Post an enquiry to and we will respond back soon.
