Paymentech and MICROS Systems, Inc. Join Forces to Provide a Customized Gift Card Program for the Food Service Industry
Food Service Merchants using MICROS 3700 and 8700 POS Systems Will Now Be Able to Offer an Integrated Gift Card Solution
ORLANDO, Fla., June 25 / Paymentech, a full service provider of electronic payment solutions, and MICROS Systems, Inc.
Paymentech's gift card program includes card design and production, POS transaction processing, and merchant reporting. This program expands the market for proprietary stored-value cards by enabling restaurants to brand and launch their own gift cards. Paymentech Gift Card services encompass customized plastic, transaction processing, specialized reporting, help desk support and database maintenance.
"This solution will allow our customers to implement a full function gift card program by leveraging their existing investment in the MICROS product," said Greg Schaub, Group Manager, Business Development for Paymentech. Schaub explains that Paymentech is always searching for ways to deliver new products to merchants without forcing them into expensive investments in additional equipment. Merchants can eliminate costly stand-beside systems and extra equipment used with other gift card programs. This simplifies implementation and reduces a merchant's initial investment.
"As customers seek to further their customer relationship management (CRM) initiatives, solutions such as integrated gift cards provide an inexpensive mechanism for restaurateurs to enhance their dining relationship with their guests. Additionally, integrated gift cards provide a cost saving replacement for traditional paper gift certificates. By integrating our POS Systems with the Paymentech Gift Card Solution, MICROS further enhances its restaurant product offering and enables its customers to be more competitive in their target markets," said Ed Rothenberg, Vice President, Restaurant Business Development.
How Paymentech Gift Card Works
Paymentech clients select the card design, customizing the card with their name, logo and artwork. Restaurants can choose from different strategies on how to run their program. Gift cards can be pre-denominated with a specific amount on the card's face. They can also be non-denominated so merchants, from the POS terminal, can add value to an account when it is sold to a customer. Value can be added and deducted from a gift card at each use. Paymentech has partnered with leading gift and loyalty card providers to integrate card issuance and acceptance through Paymentech's POS network. Merchants will also have the ability in the future to add loyalty programs and electronic coupons to their POS payment systems.
As with credit card authorizations, gift card transactions are handled on-line, providing greater data integrity. The addition of gift card programs to existing POS terminals or systems delivers greater convenience and speed, and reduces training. Administration of the electronic Paymentech Gift Card program requires few resources. Gift card accounts and transactions are stored in a central database. Internet reporting is available to the merchant for tracking transaction activity and outstanding liabilities. Store level reports are available from the POS device to assist in daily reconciliation and monitoring of transactions.
MICROS Systems, Inc. provides enterprise applications for the hospitality industry worldwide. Over 120,000 MICROS systems are currently installed in table and quick service restaurants, hotels, motels, casinos, and leisure and entertainment operations in more than 130 countries. MICROS provides property management systems and central reservation and customer information solutions under the brand MICROS-Fidelio for more than 10,000 hotels worldwide. MICROS's stock is traded through NASDAQ under the symbol MCRS. For more information on MICROS and its advanced information technology solutions for the hospitality industry, please contact Louise Casamento, Director of Marketing at 443-285-8144 or 800-638-0985. You can also visit the MICROS website at www.micros.com or send an e-mail to [email protected]. "micros" is a registered trademark of MICROS Systems, Inc. All other product and brand names are the property of the respective owners.
Dallas-based Paymentech, the payment solutions company(TM), delivers secure and reliable electronic payment services in merchant acquiring and point-of-sale transaction processing with a wide array of product functionality and support. Paymentech (www.paymentech.com) processed approximately 3.4 billion total transactions and $109 billion in bankcard sales volume in 2000. Founded in 1985, the nation's premier processor and acquirer of credit card transactions, is also the leader in non-face-to-face payment processing for Internet and direct marketing.
Louise J. Casamento
Director Of Marketing
Oracle Hospitality
