SALT LAKE CITY--(BUSINESS WIRE)--Prepaid industry veteran Wayne Chatham announced today the launch of nthCard, a gift card processing and distribution solution for middle market merchants to expand gift cards sales beyond their own brick-and-mortar and online channels. Chatham, the company’s chairman, is a serial entrepreneur in the prepaid card industry. Most recently, he was CEO of Card Compliant, where he continues to serve on the board. Joining Chatham at nthCard is fellow industry veteran and prepaid entrepreneur John Bechard, serving as CEO and president. Dave Witt has joined the team as nthCard’s CTO.
“Middle market retailers—like regional chains, e-commerce businesses and multiple-location merchants with low per-store gift card sales—are at a huge disadvantage, because they can’t get widespread third-party gift card distribution like the top-tier, national chains. Additionally, they’re forced to work with multiple partners, creating serious operational inefficiencies that eat up time and resources,” explains Chatham. “Either way, they’re forgoing the full value of incremental sales their gift card programs could potentially generate.”
“With one contract, our clients have access to a gift card distribution network that previously was achievable only by working with two, three, or even four providers,” adds Bechard. “And, of course, a multiple-provider environment means not only multiple contracts, but multiple fee schedules and multiple reporting streams—which generate frustration and reduce profitability.
“What we’re saying to these underserved middle market retailers is, ‘Work with us to get the additional distribution points you need to sell more physical and digital gift cards to make your programs more profitable,’” he continues. “Our value proposition really is that simple.”
About nthCard LLC
The mission of Salt Lake City-based nthCard is to increase its clients’ profitability by expanding distribution opportunities for their merchant-branded gift cards and simplifying the path to gift card program success. Learn more about nthCard at https://nthcard.com or by calling +1 (855) 920-CARD.