The U.K. retailer Marks & Spencer PLC is using card management software from S1 Corp. to manage its gift card program, the banking technology provider said Monday.
Marks & Spencer is using the Card Issuer application, offered through S1's Postilion subsidiary, to handle authorization, issuing, and account management.
The stored-value cards are loaded at the time of purchase and can be accessed through a magnetic stripe or bar code. The Card Issuer technology enables retailers with stores in several countries to issue and manage gift cards in multiple currencies.
Marks & Spencer has used Postilion to process card payments for five years.
S1, of Norcross, Ga., said its software can help retailers manage their own gift cards, a task that many have outsourced in the past.
"We see a growing awareness in the retail community of the benefits of running a gift card program in-house," Grant Wyatt, the general manager of Postilion Europe, said in a press release. "Not only does this provide the retailer with greater control and flexibility, but as volumes of gift card sales increase, the cost advantage of running these programs in-house becomes obvious."