InComm Digital Solutions recently announced the launch of the Corporate B2B Store, which is the first-of-its-kind in the prepaid industry.
The Corporate B2B Store gives retailers more flexibility to sell both physical and digital gift cards, which, in the past, required working with multiple vendors and solutions. The turnkey ecommerce solution helps brands sell their own gift cards to their corporate and promotions clients. What’s more, it enables individual and bulk fulfillment of both digital and physical cards, as well as management and reporting of the gift card program through one platform.
Mike Fletcher, General Manager, InComm Digital Solutions, discussed the launch of the Corporate B2B Store in an engaging Q&A with Loyalty360.
How did the launch of the Corporate B2B Store come about and why is this a unique experience for retailers?
InComm Digital has been helping retailers sell gift cards from their websites to end consumers for several years. We are also the market leader in helping the largest B2B/Reseller programs manage their gift card fulfillment through API toolsets. The Corporate B2B Store addresses a need that sits in between those two audiences: serving the B2B client who has needs beyond an end-consumer type purchase, but doesn’t purchase consistently enough to warrant a technical integration and fulfillment management toolset. Our ecommerce solution allows brands to sell their own gift cards to their corporate and promotions clients through one, easy to use, platform. Too many retailers currently rely on manual processes across separate systems which can only handle one task at a time. The Corporate B2B Store enables individual and bulk fulfillment of both physical and digital gift cards through a scalable, streamlined process which also provides management and reporting of the gift card program.
When did it launch and what has been the feedback?
The Corporate B2B Store launched last week. The initial response has been positive.
How will this enhance the retailer/customer experience?
It streamlines a process that has been slow to evolve in recent years as corporate prepaid card programs frequently involved individual forms that would sometimes have to be emailed or faxed. By introducing the online portal, the customer and the retail partner have the ability to complete the transaction seamlessly through a single, user-friendly ecommerce store. Gift card orders can be placed, monitored, and reported on. Terms and discount tiers can be managed through the site and branding options are available for on-card inclusion. Additionally, cards are available in both digital and physical formats, and orders can be tracked to ensure proper delivery.
How does this decrease financial risks and eliminate need for IT resources and ongoing maintenance?
The turnkey ecommerce site provides a streamlined ordering and account management process. It greatly reduces the risk of human error while saving time through automated processes. The store allows for scalability of a gift card program without the IT burden falling on the customer. The secured site allows for data to be input on one platform rather than scattered across multiple disparate systems. Additionally, the program decreases financial risks associated with stolen or lost gift cards by allowing delayed activation of cards.
What impact can this have on retailers’ corporate sales and how can that impact their bottom lines moving forward?
Simply put, the Corporate B2B Store allows retailers to grow their corporate gift card sales without adding additional staff or resources. Overall, here is an outline of the additional benefits of the Corporate B2B Store:
Streamlines input and data capture, eliminating manual data entry into multiple systems
Decreases financial risks associated with stolen or lost gift cards by allowing delayed activation of cards
Eliminates the need for IT resources and ongoing maintenance
Co-branding is available for both digital and physical cards
Digital and physical fulfillment can be either “many-to-one” (bulk) or “one-to-many” (individual)
Corporate accounts can be set up with associated payment terms and discount tiers
Order statuses can be viewed for easy tracking
Both variable and set denominated cards are available