Technology Expected to Increase Business-to-Business Transactions at the Point of Sale
ATLANTA, March 7, 2011 – First Data Corporation, a global leader in electronic commerce and payment processing, today announced that it has been granted a patent for technology to activate multiple prepaid cards at the point of sale. U.S. Patent No. 7,822,640, titled “Multi-card Bulk Package Identifying Activation Systems and Methods,” covers technology that allows merchants to activate all of the cards within a multipack at once rather than having to individually scan or key in each number, saving time at the point of sale.
When multipacks of cards are created, First Data uses the technology to generate an additional account number for the entire package. Activation of the “extra” account activates all of the cards in the package, which could be open- or closed-loop cards.
“First Data continually works to innovate, helping our customers meet today’s needs and shaping the future of payments,” said Jeff Johnson, First Data senior vice president and division manager of Prepaid Solutions. “We believe this technology will give our customers an advantage and will pave the way for more business-to-business prepaid card purchases, such employee incentive cards, to happen at the point of sale.”
The multi-card activation capability is part of First Data’s suite of prepaid offerings that includes payroll and disbursement solutions, gift card programs and incentive, rebate and reward cards.
The new patent is one of more than 300 patents issued to First Data as part of its ongoing innovation efforts to benefit its customers and the industry as a whole.
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
Contacts
Christa Goeson, First Data
303-967-5169
[email protected]