Simon Payment Systems : Introduction
The Simon Giftcard Program
In 2001, Simon began a pilot program to test a prepaid Visa debit card against their
already successful gift certificate program. The initial test began in four properties
and results showed an overwhelming 60 percent increase over same-period gift certificate
sales at the properties for the previous year. Encouraged by these results, the program
was expanded nationally in 2003 and quickly became the best-selling Visa giftcard program
in the world—a title it still holds today.
The current Simon Giftcard portfolio is issued by MetaBank and US Bank. There are over 20
card designs and a distribution channel of over 190 properties and at www.simon.com.
Though Simon Giftcards are welcome wherever Visa debit cards are accepted, most consumer cards
continue to be used at Simon malls. The Simon Giftcard is a favorite among Simon retailers as
its usage helps lengthen the peak shopping seasons and results in fewer merchandise returns,
which in turn retailers' profitability.