Wells Fargo Reports Sales Of 1 Million Wells Fargo Visa Gift Cards

"Wells Fargo's milestone in gift card issuance is a testimony to the tremendous opportunities enjoyed by branded prepaid cards. By 2009, over $150 billion will be spent with branded prepaid cards in the United States, up from $35 billion in 2006," says Gwenn Bezard, a research director with Aite Group.

While gift cards have increased in popularity among consumers, a substantial percentage of Wells Fargo Visa Gift Card sales are actually coming from business customers. Businesses are using Wells Fargo gift cards to thank employees and customers. To provide added convenience to business customers, Wells Fargo recently enhanced its online gift card site to accommodate bulk orders. Wells Fargo customers interested in placing orders can do so at www.wellsfargogiftcard.com.

"The significant and growing demand for gift cards shows both consumers and businesses understand and appreciate the convenience and freedom that this product offers," said Kathy Yee, Wells Fargo Card Services prepaid business manager.

"Although one of our highest weeks year to date for the stores was the week before Father's Day, we believe the holidays will be our peak season," Yee said. "We forecast that we will sell more cards the week before Christmas than we will the entire month of November."