TMG Reports 25 Percent Growth in Holiday Gift Card Sales
Kelly Moore (for TMG)
(Des Moines, Iowa – January 9, 2012) – Financial institution clients of The Members Group (TMG) collectively sold 25 percent more ATIRAgift cards during the 2011 holiday season as compared to the same period last year.
TMG added 32 prepaid clients in 2011, 29 of which market the company’s open-loop Visa gift cards. However, Konrad Christensen, who leads the retail payments team for TMG, attributes the sales increase to more than TMG’s client growth.
“Over time, consumers have come to recognize the open-loop gift card as not only an option, but the better option, when compared to closed-loop cards,” said Christensen, TMG’s retail payments product manager. “As well, many of TMG’s clients have put forth high-quality, targeted marketing campaigns to successfully reach the likely gift card buyers in their individual markets.”
The average dollar amount loaded to ATIRAgift cards remained unchanged at roughly $82.50 during both the 2010 and 2011 holiday seasons.
The Members Group (TMG) is dedicated to creating customized, technology-driven card processing and payment solutions for credit unions and community-based financial institutions across North America. Innovations in fraud management, loyalty programs, alternative payment systems and analytic reporting, and the competitive advantages they create, have helped TMG forge a new standard in offering cutting-edge credit, debit, ATM, prepaid card products and a P2P payment solution. For more information, visit www.themembersgroup.com.