Product: Electronic Funds Transfer Gift Card Processing
Company: Moneris Solutions

Gift and loyalty card programs are now immensely popular among consumers and businesses. They serve as an excellent marketing tool for businesses and perfect presents for hard-to-shop-for people. The success of these programs is especially seen in large chain and franchise operations. Cardholders can use their cards at any of the restaurants or stores, offering this type of program.

The added conveniences gift cards provide to the customer, though, do not always translate to the merchant. While franchises are individually owned, customers can use a gift card issued at one location and at all the other locations, even if there are different owners. Gift and loyalty card provider Ernex, a division of Moneris Solutions, has introduced an electronic funds transfer (EFT) option for merchants designed to eliminate the manual reconciliation process for merchant gift card programs.

Now, funds between the merchant who sold the card and the merchant who redeemed the card can be easily settled automatically. Merchants can also use the EFT option to transfer money between the franchisee and corporate headquarters. Paperwork is no longer necessary.

Moneris Solutions
700 E. Lake Cook Road
Buffalo Grove, IL 60089
866-423-8475
www.monerisusa.com