Transcard Announces Launch of Innovative Gift Card Solutions (IGCS)

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Transcard, a leading provider of prepaid card solutions under the Transcard(TM) brand, announced today the December 2007 launch of Innovative Gift Card Solutions (IGCS), a gift card provider of STAR, Discover Network and MasterCard-branded gift cards. IGCS is a d/b/a of Innovative Processing Solutions (IPS) based in Chattanooga TN. Transcard recognized the need for cutting edge technology in this rapidly growing market segment that allows for flexible programs. IGCS will be offering traditional gift cards, open loop gift cards, SKU cards, shared wallet cards, merchandise return cards, incentive cards, and loyalty programs. IGCS can customize a unique program for each client taking stored value solutions into the future.

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The Gift Card industry continues to increase in popularity for both consumers and merchants alike. Gift card sales reached $26.3 billion this holiday season. Merchants can no longer ignore this market segment. It is critical for merchants to have a gift card processor that can build a customized program for their unique business. IGCS is the future of stored-value technology.

    According to Craig Fuller, CEO of Transcard, "IGCS has been formed to offer stored value solutions to both open and closed loop markets. This division will allow penetration into B2B markets, and provide incentive-based and gift card solutions to an entire group of new clients for Transcard."

Camille Mauerhan, VP/GM of IGCS, stated, "The Gift Card industry continues to increase in popularity for both consumers and merchants alike. Gift card sales reached $26.3 billion this holiday season. Merchants can no longer ignore this market segment. It is critical for merchants to have a gift card processor that can build a customized program for their unique business. IGCS is the future of stored-value technology."

About Transcard

Transcard is an industry leader in electronic transaction processing services both domestically and internationally. Transcard offers electronic funds transfer services including direct-to-card payroll technology, electronic fuel and transaction processing, and global money remittance and payment services. Transcard process over $960 million in electronic transactions annually and expects to reach $1.2 billion in 2007.

About IGCS

IGCS is a wholly-owned subsidiary of Innovative Processing Solutions (IPS), a tier 1 financial transaction processor. IPS operates a number of subsidiaries that take advantage of the in-house core processing technology such as Transcard, Pay2Card, FactorLane, Tran$fund$, and TransMarkets. Innovative Gift Card Solutions (IGCS) is the innovator of flexible gift card and loyalty solutions. IGCS is both a processor and a program manager. Because the platform was built-in-house, IGCS can develop and customize the entire stored value program to meet each client's need.

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