Partial Authorisation Supported by StoreFinancial Gift Card Platform

Overland Park, Kansas, April 29, 2009 – StoreFinancial, an industry leader in selective authorization and open-loop branded gift card programs, announces its support of partial authorization. Partial authorization functionality can prevent declined transactions when the gift card balance is less than the purchase amount, which enhances the cardholder and merchant gift card experience.

As a merchant point-of-sale (POS) function, partial authorization allows the gift card to be run as a split-tender quickly and easily. Once the portion of the sale covered by the gift card is approved, the POS prompts the merchant to collect the remaining balance with another method of payment.

“Partial authorization functionality support from all participants in the payment processing cycle has been a goal sponsored by the card networks for some time, so StoreFinancial began tracking partial authorization acceptance from our merchants. Initial analysis showed less than 2% of our merchant base supported partial authorizations; however, the month-over-month acceptance percentage grew and we determined it was an excellent time to deploy partial authorization to our production environment,” said Jim Poteet, Vice President of Technology at StoreFinancial.

Currently, StoreFinancial has identified key national merchants within its program that support partial authorization. Merchant acceptance of partial authorization is continuously tracked by StoreFinancial to provide an increased level of service to its clients.

“The ability for the cardholder to use the balance remaining on their gift card, without knowing the exact amount, makes our prepaid products easier to use for the customer and merchant. Partial authorization is yet another feature that allows us to provide a great customer experience with our programs,” said Jamison Jaworski, Vice President of Sales and Marketing at StoreFinancial.

About StoreFinancial
StoreFinancial is an international payment systems processor, program manager, and an industry leader in prepaid card programs specifically designed for unaffiliated merchant groups. Currently, StoreFinancial provides specialty prepaid solutions to more than 400 clients around the globe. StoreFinancial combines unparalleled customer service with the most current technology applications to its prepaid products and services. To learn more about StoreFinancial, visit www.storefinancial.com or call 800.803.7712.