Stored Value Solutions has agreed to supply prepaid gift cards, including promotional ones, to World Wrestling Entertainment Inc.
People can buy the proprietary cards at World Wrestling's Web site and only use them to initiate purchases from the site. The cards are available in denominations of $10, $25, $50, $75 and $100. World Wrestling charges $2 for standard shipping.
Under the agreement announced last week, Stored Value, a Louisville unit of Ceridian Corp. in Minneapolis, both issues the cards and processes their transactions.
"The initial plan for the first part of the rollout was to only have online acceptance," said Keith Sorrels, Stored Value senior vice president of sales.
The wrestling organization can use the promotional gift cards to help encourage people to buy merchandise, he said. "We're seeing [other merchants] do promotions like, 'Buy $100 worth of [merchandise] or gift cards and you'll get a $25 gift card for free,' " he said.
Promotional gift cards are gaining traction with merchants because of the struggling economy, Sorrels said. "This is a way to drive customer traffic through stores, restaurants, [and] entertainment venues."