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Stored-value cards becoming 'a new industry'

July 27, 2005

ePaynews: Stored-value cards give banks and retailers opportunities to convert paper-based payments to electronic transactions and to benefit from the cost efficiencies, according to Celent Communications. In the retail sector, stored-value cards are becoming a multi-channel sales incentive, with toy seller Toys 'R' Us expanding the reach of its stored-value card program to most of its Web sites. After finding that online redemption of its stored-value cards were the reason its Q1 2005 sales grew by 21 percent to $64 million, up from $53 million in the year-before period, Toys `R' Us is extending the program to other sites under its umbrella.

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