ATLANTA, Aug. 19, 2015 /PRNewswire/ -- InComm, a leading prepaid product and transaction services company, is proud to announce it will be expanding its offerings this summer in Asda, the United Kingdom-based subsidiary of the world's largest retailer, Walmart.
By the end of August 2015, InComm will expand its gift card malls into 26 Asda Living stores, which offer consumers all of Asda's non-food products, including George clothing, home ware, electrical, health and beauty, music and video, and toys. Many Asda Living stores also include café shops, which enhances the consumer's shopping experience, encouraging them to take more time in the store.
"The growth of the gift-card category in Asda stores has been very impressive over the past few years," said Tim Pope, Vice President, InComm Europe. "By expanding and further solidifying our partnership with Asda and Walmart, we are going to be able to continue offering consumers the prepaid products they want in the stores they prefer."
InComm has developed a strong relationship with Asda over several years, having worked with the UK retailer to develop the gift-card category in more than 200 of their stores. By now offering InComm's gift card malls, Asda Living stores will have a prepaid destination for consumers looking for third-party gift cards from the most popular brands across a wide range of categories and services. InComm's gift card malls offer consumers the convenience and value they want for retail, music, digital content, gaming and entertainment.
"At Asda, we are always striving to provide our customers with the products they want in the most seamless and convenient way, " said Michelle Creaney, Head of Cards and New Initiatives, Asda. "We have been able to do that with InComm. Expanding their gift card malls into our Living stores is an extension of our desire to make shopping rewarding and easy in our stores."
About InComm
Leveraging deep integrations into retailers' point-of-sale systems, InComm provides connectivity to a variety of service providers that allow consumers to conduct everyday business at more than 450,000 points of retail distribution worldwide. Whether those consumers are activating prepaid products, paying bills, enjoying real-time discounts through a membership card, purchasing digital goods in-store or adding funds to an online account, InComm is there to provide unique gift-gifting opportunities, cater to on-the-go shoppers, deliver added value through loyalty programs and serve cash-based consumers. With 186 global patents, InComm is headquartered in Atlanta with a presence in over 30 countries in North and South America, Europe and the Asia-Pacific region. Learn more at www.InComm.com or connect with us on www.twitter.com/InComm, www.facebook.com/InComm, www.linkedin.com/company/InComm or www.InComm.com/blog.
About Asda Stores Ltd.
Founded in the 1960s in Yorkshire, Asda is one of Britain's leading retailers. It has more than 180,000 dedicated Asda colleagues serving customers from 592 stores, including 32 Supercentres, 329 Superstores, 34 Asda Living stores, 194 Supermarkets, 26 depots and seven recycling centres across the UK. Its main office is in Leeds, Yorkshire and its George clothing division is in Lutterworth, Leicestershire. More than 18 million people shop at Asda stores every week and 98 per cent of UK homes are served by http://www.ASDA.com. Asda joined Walmart, the world's number one retailer, in 1999.
Source: InComm & PR Newswire
MEDIA CONTACT:
KATY LASEE | MARKETING DEPT.
651 554 8533
KRLasee@traveltags.com
Last week Bloomberg, the financial news provider, published an article quoting anonymous sources suggesting that InComm is pursuing a dual-track process that could lead to an outright sale of the payments technology company. As InComm is a major player in prepaid worldwide, Paybefore wanted more details, so we contacted Scott Meyerhoff, InComm’s COO and CFO. Meyerhoff tells Paybefore that Bloomberg got it wrong.
In an exclusive interview, Meyerhoff tells Paybefore that the company is not for sale, not planning to sell and has not engaged any third party to contemplate or pursue a sale. “It’s speculation and it’s wrong,” he says. “We’re focused on taking care of our customers, pursuing acquisition opportunities, driving commerce and continuing to expand our business. What we’re not doing is reaching out to potential buyers, nor are we planning to reach out to potential buyers, as the article claims. We’re certainly flattered by the attention, but it’s simply incorrect.”
The article, which appeared in BloombergBusiness, contended that the other part of the dual-track process is a $400 million IPO to launch in the second half of the year.
On the IPO issue, Meyerhoff tells Paybefore that InComm has not officially engaged anyone in connection with an IPO. He concedes that InComm has longstanding relationships with a number of investment banks and that company executives meet regularly with bankers as a matter of due course.
“Investment bankers offer us their counsel—and we listen,” Meyerhoff says. “We’ve been doing this for years and we’d be foolish not to listen.
“As for current plans for an IPO, we’re stewards of this business and we’re continuously contemplating options,” he adds. “In light of current trends in the capital markets, we’ve increased our diligence on this topic. If market conditions are right, we’d certainly consider an IPO—just as other companies in our line of business have done. This is a topic of discussion we have every year, and the level of interest is driven by market conditions.”
Source: Paybefore.com
MEDIA CONTACT:
KATY LASEE | MARKETING DEPT.
651 554 8533
KRLasee@traveltags.com
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