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.