Stored Value Systems, Inc., a wholly-owned subsidiary of Comdata Corporation, announced it has successfully developed an electronic cash card program for Fort Worth, Texas- based Pier 1 Imports, the nation’s largest specialty home furnishings retailer, with over 800 stores in 48 states and Canada. The multi-year partnership establishes SVS as the exclusive cash card provider for the retailer, representing Pier 1’s entrance into the rapidly growing retail gift card arena.
In September 2000, the Pier 1 electronic cash card became the first card of its kind developed to automatically calculate Canadian and United States currency equivalents in real time, at the point of sale. This feature allows Canadian Pier 1 customers to shop for items in U.S. stores, and vice versa, without time-consuming steps for conversion at the check out.
“We’re very excited to have Pier 1 in the SVS retailer family,” said SVS senior vice president Wayne Chatham. “It’s clear that shoppers all across America are comfortable using electronic cash as a means of gift giving and receiving in-store credit for merchandise returns. Pier 1 shoppers have now officially joined the paperless economy with a personal and convenient way to purchase items.”
“Pier 1 is glad to offer our customers more convenient ways to celebrate events throughout the year; the electronic cash card is the perfect way to give,” said Hank Williamson, Pier 1’s vice president of sales and store support. “Since the card’s launch a couple of months ago, we have sold over 450,000 gift cards. It has been received well by our customers.”
SVS pioneered the electronic cash card product in 1995 and now counts some of the nation’s largest and most recognizable names in the retail industry among its list of clientele. Among others, SVS clients include Target, Radio Shack, J.C. Penney, BP Oil, Citgo, Exxon/Mobil, and Lowe’s.
SVS cash cards are used primarily as replacements for paper gift certificates. Some retailers, like Pier 1, also use their electronic cash cards for corporate incentive programs. Pier 1 gift cards are available for purchase in any of the company’s U.S. or Canadian stores, as well as their online store ([http://www.pier1.com] ).
Pier 1 card values can be added to at any time, and shoppers can check their balances at any Pier 1 location or by dialing the toll-free number printed on the back of the card. Callers will be directed to a call center designed to handle merchant and shopper inquiries for all SVS retailers; an arrangement that allows merchants to private label their cash card-based customer care with a team completely dedicated to enhancing the shopping experience in their stores.
About Stored Value Systems (SVS):
Stored Value Systems, Inc. (SVS) is the nation’s leading provider of retail cash card services and chip card programs. Retailers across America rely on SVS to create customer loyalty, increase transaction volumes and strengthen their competitive position in the retailer marketplace. The people of SVS are the experts at building retail brands and keeping satisfied shoppers in stores. Headquartered in Louisville, KY, Stored Value Systems is a wholly-owned subsidiary of Comdata Corporation.
Comdata Corporation ([http://www.comdata.com] ) is redefining the movement of money and information through technology for businesses, customers and employees. A leading provider of transaction and information services, Comdata has been an industry innovator since the company was founded in 1969. Comdata provides Comchek(R) credit and debit processing and reporting for commercial fleets and merchants, electronic cash and gift card services for retailers, chip card programs for governmental agencies and fuel management systems. Headquartered in Brentwood, TN, Comdata employs nearly 2,000 people throughout the United States and Canada. Comdata is a business unit of Minneapolis-based Ceridian Corporation (NYSE: CEN).
About Pier 1:
Pier 1 Imports, Inc. (NYSE: PIR) is North America’s largest specialty retailer of imported decorative home furnishings, gifts and related items with over 800 stores in 48 states, Puerto Rico, Canada, Mexico, the United Kingdom and Japan. Additional company and product information is located at [pier1.com].