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Fast-casual burger outfit Fatburger reported a 662 percent increase in gift card sales at company-owned locations since converting from paper certificates to plastic cards last year.
Fatburger sells Paymentech's proprietary gift card product, called "FlexCache," and attributes the success of the program to creative marketing and the convenience that comes from paying with plastic.
Fatburger says Paymentech won the business last year as a result of its "superior" technology, including credit, debit, and gift card processing through a single point-of-sale system; comprehensive reporting that combines credit, debit, and gift card payments into one online report; and inter-store settlement between both company-owned and franchised restaurants, simplifying the company's reconciliation and reporting functions.
"We liked that Paymentech offered both a gift card product and credit and debit processing, but we were sold on their ability to combine all our reports and make them accessible online, any time we need them," said Elaine Patel, director of marketing for Fatburger.
Paymentech processes an estimated $8.1 million in annual card volume for the stores.