InComm to continue gift card distribution in N.J.
Atlanta, June 29, 2012 -- InComm, a leading prepaid product and transaction services company, announced today it plans to continue the sale of its Vanilla-branded VisaŽ and MasterCardŽ gift cards, as well as its retail branded gift card mall program in New Jersey.
InComm had previously announced its plans to withdraw these programs from New Jersey retail locations because of the detrimental economic impact to businesses and consumers created by the 2010 modifications to New Jersey's unclaimed property law. Now, however, as a result of the new bill signed into law this week amending New Jersey's unclaimed property and consumer protection statutes, InComm will continue offering these programs in New Jersey retail locations for the immediate future. In addition to implementing a four-year moratorium on the law's previous data collection requirement, the new bill protects consumers by eliminating expiration dates and post-purchase fees on gift cards sold in New Jersey.
"We plan to continue selling gift cards in New Jersey indefinitely as long as there is no requirement to collect consumer data at the point of sale," said Brooks Smith, President and CEO of InComm. "That new bill signed into law places a moratorium on the collection of consumer data for four years, which would expire in 2016. InComm intends to spend the next four years working to have any such data collection requirement permanently removed from the law. In the end, the data collection requirement negatively impacts all gift card issuers as well as New Jersey businesses and consumers, and we are hopeful that our continued efforts will result in further improvements to the law and continued protection for consumers."
InComm is a leading provider of cutting-edge prepaid products, services and transaction technologies to retailers, brands and consumers. InComm supports more than 250,000 retail locations in building prepaid card destinations, connects brands with new markets and gives consumers a simple, secure shopping experience. InComm stays ahead of emerging trends by analyzing market needs and leveraging its global, innovative commerce platform, go-to-market expertise and extensive partner relationships. With 113 global patents, InComm is headquartered in Atlanta and has offices in North and South America, Europe and the Asia-Pacific region. For more information, visit www.incomm.com or follow us on Twitter at www.twitter.com/incomm .
Source: Company press release.