US Bank Issues 10 Millionth Gift Card
US Bank has announced it has recently issued its 10 millionth gift card and expects to surpass 15 million during the 2006 winter holiday season. US Bank saw gift card sales at 86 percent of its branches in May, and it sold 334,781 Visa Gift Cards during the first two weeks of June leading up to Father's Day. US Bank issues Visa Gift Cards in 41 states through its 2,430 retail branches and mall partners, including Simon Property Group, Macerich Malls and Crocker Park.
"Gift cards are here to stay," says John Focht, senior product manager of prepaid cards at U.S. Bank. "Since they were first introduced in 2003, we've seen dramatic year-over-year growth in US Bank Visa Gift Cards through all of our channels. This is attributable to the fact that gift cards are convenient and valuable to the recipient. We expect the growth to continue for several years to come."US Bank offers a variety of prepaid cards in addition to gift cards, including payroll cards for employers, Visa Buxx for teenagers, and the ReliaCard for government disbursements, such as child support payments, unemployment compensation and temporary assistance.
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