Fifth Third Processing Solutions taps Transaction Wireless for mobile gift cards
Fifth Third Processing Solutions is offering mobile infrastructure, commerce and marketing company Transaction Wireless’s virtual gift card platform to its merchant partners.
Fifth Third, an electronic payments and credit, debit and gift card processing services provider, is using TW’s wGiftCard suite of products. The target clients are tier-one national retailers and restaurants, as well as local and regional merchants.
“Fifth Third Processing Solutions’ strategy and commitment to our clients is to provide our customers with the solutions and services that they need to deliver products that will help build their brand and their customer loyally, in addition to creating payment and operational efficiencies,” said Lynn Rhoads, vice president of communications and marketing director at Fifth Third Processing Solutions, Cincinnati, OH.
“This relationship with TW allows customers to continue to look to Fifth Third Processing Solutions for all of their payments needs,” she said. “Mobile isn’t necessarily a solution but an opportunity.
“As mobile devices become primary in the lives of consumers, merchants are looking for more ways to become top of mind with their customers, this solution provides that opportunity.”
Fifth Third Processing Solutions LLC delivers innovative payment transaction processing and acceptance services to create and support complex payment strategies for merchants, businesses and financial institutions worldwide.
Fifth Third Processing Solutions is a joint venture with Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp.
The company supports more than 180,000 merchant and financial institution locations and 11,000 ATMs in 44 states and 11 countries.
According to the March 2009 Nilson Report, the company is the fourth-largest U.S. merchant purchase transaction acquirer.
Transaction Wireless is a mobile commerce, payments and one-to-one relationship marketing company enabling a link between consumers, retailers and brands via any PC or mobile device leveraging TW’s proprietary technology.
Mobile gift cards
Transaction Wireless’s product portfolio includes wGiftCard, a suite of services for the next generation of gift cards and stored-value programs delivered to any mobile phone or email address.
The wGiftCard platform enables virtual gift card activations, balance inquiries, gifting among consumers, replacing stolen or lost cards, redemption, reloading cards, storing, tracking and monitoring.
“Mobile provides that opportunity to stay in front of the customer,” Ms. Rhoads said. “As mobile transactions become primary for some generations, retailers need to be able to adapt to that communication protocol to provide important data and marketing information to their customers.
“If a consumer wants their gift card balance, anytime, anywhere, they should be able to obtain without having to dial a telephone number or visit a store location, and while they are doing that, why not load more value on to their card?” she said. “It is a win for everyone.”
By electing to use TW’s wGiftCard technology, Fifth Third Processing Solutions’ merchant clients will be able to implement a virtual gift card platform that integrates with their core processing platform.
“With the new relationship, Fifth Third now has a virtual and mobile gift card offering not currently available through competitors,” said Bruce Springer, CEO of Transaction Wireless, San Diego, CA. “It provides their retail customers a turnkey, fully integrated solution and continues to position Fifth Third at the front end of the growth curve for this expanding and often retailer requested solution.
“With existing TW customers such as AMC Entertainment and Bass Pro Shops, Fifth Third customers now have access to a nationally deployed and proven solution,” he said.
“And with the suite of TW features and capabilities, it provides retailers with numerous current and expansion opportunities within the mobile and virtual card markets.”