Consumer Payment Card News

Kmart Cash Card

Beginning Aug. 17 Kmart customers may purchase the Kmart Cash Card. The reloadable card is a gift card as well as an AT&T calling card. Also, customer cash refunds on returned items without a receipt will be granted as a Kmart Cash Card. Stored Value Systems worked with Kmart and AT&T to design and implement the Kmart Cash Card program.

FULL STORY:
If you are looking for a unique gift that family members and friends can really use, your local Kmart store has the answer. Beginning Aug. 17, 1997, Kmart customers may purchase a retail Kmart Cash Card in any amount to give as a gift or use for their own shopping needs.

The Kmart Cash Card is more than a gift card. It’s a card with endless possibilities.

Use it as a gift certificate;
Use the dollar value to make AT&T calls; or
As a budgeting tool for family spending.
“Our focus on the customer led Kmart to look at new ways to bring convenience to shoppers. Now, when you want to purchase a ‘gift certificate’ at Kmart stores, it will be as simple as purchasing the Kmart Cash Card,” said Michael Viola, Kmart vice president and treasurer.
Customers may purchase a Kmart Cash Card at any register with cash, check or credit card. The card is reusable and flexible. Any amount in any increment may be placed on the card. The card can be “rejuvenated” when funds have been depleted.

Also, with the introduction of the new card, customer cash refunds on returned items without a receipt will be granted as a Kmart Cash Card.

“The Kmart Cash Card responds to our customers’ desire for choices in their shopping experience. Providing the option to use the Kmart Cash Card to make AT&T calls offers that extra flexibility,” said Viola.

AT&T, the world’s leading communication company, will provide the calling feature for the Kmart Cash Card. The Kmart Cash Card offers consumers a convenient and innovative way to place calls on the AT&T network from any phone, particularly when away from home. Customers simply follow the directions on the back of their Kmart Cash Card.

“With the same card Kmart customers can buy a new outfit or a CD player, then phone all their friends to tell them about the great bargains,” said Howard E. McNally, vice president, AT&T consumer product management. “Plus they will have the comfort of knowing that they will receive AT&T reliability and the strength of the world’s largest network when using the Kmart Cash Card to place calls.”

Stored Value Systems (SVS), the leading provider of retail cash card solutions, worked with Kmart and AT&T to design and implement the Kmart Cash Card program. Incorporating leading-edge information systems with proven magnetic stripe processes, SVS delivered a solution that integrates Kmart’s existing point-of-sale system and AT&T’s telecommunications network with SVS’ own retail cash card platform. SVS’ total solution includes card production, real-time transaction processing and complete database management and reporting.

“Retail cash cards are a revolutionary way to strengthen the allegiance between retailers and their customers,” said Delroy R. Hayunga, Stored Value Systems president and chief executive officer. “By leveraging the versatility of these cards the way Kmart has, retailers can accomplish a number of top- and bottom-line business objectives, from attracting new customers and increasing revenue retention to increasing sales associate productivity and enhancing the consumer shopping experience.”

AT&T Corp. (NYSE: T) is the world’s premier communications and information services company, servicing more than 90 million customers, including consumers, businesses and government. It runs the world’s largest communications network and is the leading provider of long-distance and wireless services. AT&T operates in more than 200 countries and territories around the world. Information about AT&T also is available on the World Wide Web at http://www.ATT.com.

Stored Value Systems (SVS) is the leader of the fast-emerging market for retail cash cards and the electronic system that supports them. Based in Louisville, Ky., SVS delivers end-to-end proprietary solutions for retail cash card applications such as gift certificates, premiums, merchandise returns and convenience cards. SVS’ total solutions include cash card production, activation, tracking, reconciliation and report generation services that work in concert with existing retailer MIS platforms.

Kmart Corporation (NYSE: KM) serves America with 2,122 Kmart and Super Kmart Center retail outlets. In addition to serving all 50 states, Kmart operations extend to Puerto Rico, the U.S. Virgin Islands and Guam. More information about Kmart can be found on the World Wide Web at http://www.kmart.com.

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