PULSE EFT Association has launched PULSE Access, the networks stored value card solution. By utilizing the new solution, institutions can enhance their services and relationships by offering a product which has seen tremendous growth in recent years.
PULSE Access enables financial institutions to offer the most widely used card types -- family, gift and payroll cards -- as well as many other card programs including travel, promotional/incentive and medical savings/flexible spending cards to name a few. Individual card programs can be tailored to meet each institutions particular needs or interests. First Tennessee, is one of three PULSE member financial institutions serving as beta institutions for PULSEs stored value solution. First Tennessee is using PULSE Access to offer a new gift card product to their customers. BancorpSouth wanted an attractive supplemental product to offers its customers and is now offering gift cards to new customers who open accounts, and market them to the rest of their customers and potential customers through the Internet and their 250 branch locations. Also participating as a beta institution is International Bank of Commerce (IBC), with more than 100 branches in South Texas and the Upper Gulf Coast. The banks Laredo branch is offering a payroll program in which bank employees have been given the option of receiving payroll cards instead of paper checks. Soon, payroll cards will be offered to the banks commercial customers. Stored value programs are growing rapidly in the U.S. with an estimated $1 trillion market opportunity.