ATLANTA, Oct. 2, 2012 /PRNewswire/ -- 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.
InComm is a leading provider of cutting-edge prepaid products, services and transaction technologies to retailers, brands and consumers. InComm supports more than 255,000 retail locations in building prepaid card destinations, connects brands with new markets and gives consumers a simple, secure shopping experience. InComm stays ahead of emerging trends by analyzing market needs and leveraging its global, innovative commerce platform, go-to-market expertise and extensive partner relationships. With 123 global patents, InComm is headquartered in Atlanta and has offices in North and South America, Europe and the Asia-Pacific region. For more information, visit www.incomm.com or follow us on Twitter at www.twitter.com/incomm.