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Gift Cards Sold Online Grow by More than 15% This Holiday Season

January 2, 2020 GMT
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SVS and CashStar Continue to Drive Online Gift Card Sales for Retailers
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SVS and CashStar Continue to Drive Online Gift Card Sales for Retailers

LOUISVILLE, Ky., Jan. 2, 2020 /PRNewswire/ -- Online gift card sales emerged as the fastest growing channel for the sixth straight year this holiday season, growing by more than 15% over last year’s online gift card sales. A partnership between Louisville based Stored Value Solutions (SVS) with CashStar, is just one way retailers are helping to drive online gift card sales.

“Online sales continue to make up a larger portion of overall retail sales,” says Joey Froedge, Vice President of Digital Commerce at SVS. “Consumers, especially millennials, continue to shop online at a faster rate for everything… including gift cards. Our research shows that millennials prefer to buy lots of gift cards, more than 10 each year, and almost 50% of those gift cards are purchased online.”

Often, retailers don’t have the resources or expertise to sell gift cards online. Instead, they turn to businesses like SVS and CashStar to enable their gift cards to be sold online. SVS helps its customers sell more gift cards online by offering innovative, more personalized ways to deliver a gift card. SVS allows companies like CashStar to activate the gift cards while SVS ensures they remain secure and are redeemable through any retail channel.

CashStar, owned by California-based Blackhawk Network, helps retailers sell more gift cards online and to other businesses with its gift card sales tools. Their partnership with SVS allows them to value the gift cards and deliver them in near real time, creating a better consumer experience.

The partnership between these two companies allow retailers to deliver a great gift card purchasing experience to consumers.

About SVS: As a leading prepaid provider, SVS manages more than 700 hundred million card products and processes over 1.5 billion transactions annually. We partner with top retailers around the world to offer stored value solutions that will effectively drive the behavior that will lead to business success. SVS is headquartered in Louisville Kentucky, USA, and owned by the Atlanta-based FleetCor Technologies, Inc. (NYSE: FLT). For more information, visit: www.storedvalue.com.

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SOURCE SVS