ATLANTA – October 2, 2012 – Today, InComm celebrates its 20th anniversary as the leading innovator and driver of growth in the prepaid and payments industry. Since the company’s inception in 1992, InComm has operated with the philosophy that consumers’ needs should drive innovation, and has responded accordingly by introducing new methods of payment that adapt to the changing ways of doing business, from modernizing retail point of sale (P.O.S.) technology to introducing prepaid wireless cards to developing new methods of payment for e-commerce and more.
As a result, InComm has built relationships with over 500 of the world’s largest brands and partnered with leading retailers to reach more than one billion customers weekly. Worldwide, InComm operates in 26 countries on five continents to foster acceptance of new payment methods, increase convenience for consumers and drive revenue for retailers.
“InComm has been successful for the past 20 years by transforming the shopping experience for consumers, retailers and brands,” said Brooks Smith, president and CEO of InComm. “As global commerce continues to expand beyond the brick and mortar to online, social, mobile and more, InComm will keep providing payment options for consumers that meet their needs across all channels. We couldn't be prouder of the progress we’ve made these 20 years, and we look forward to many more years of innovating and driving the payment industry forward.”
According to Mercator Advisory Group, the open-loop prepaid market grew 24 percent last year, from $148.4B to $184.1B, the closed-loop prepaid market increased 14 percent, from $262.4B to $299.1B and the total prepaid market increased 18 percent, from $410.8B to $483.2B. InComm has been a significant force behind this growth through the development and enhancement of technologies and methodologies, and continues to outpace the marketplace in growth.
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