TRANSAX Stored Value gives more to Goldsmiths

goldsmiths-cardBusiness Challenge

Goldsmiths is a business with more than 230 years of tradition and experience.

Now owned by Aurum Holdings, Goldsmiths is the largest quality jeweller in the UK with 170 showrooms in every major town and city, from Aberdeen to Torquay, as well as five in Northern Ireland.

Each offers the high street’s finest selection of premier and designer watch brands, gold and diamond jewellery. They also operate the largest distribution network for Rolex, Cartier, Omega, Gucci, TAG Heuer and many other reputable watch brands.

Goldsmiths wanted to launch a gift card across their stores to increase sales and customer loyalty by driving footfall and promoting impulse buying. The company also needed a more modern way to deal with their insurance replacement transactions within their own stores. In addition, they needed a solution which would enable insurance claims cards to be processed at a range of approved retailers outside the Aurum Holdings Group.

Business Solution

FIS Merchant Payments provided Goldsmiths with TRANSAX Stored Value, a gift card solution that was simple and efficient.

TRANSAX Stored Value makes it possible for Goldsmiths to promote their own branded gift cards across their stores, which enables the recipient to purchase their own choice of gift, redeeming the card by swiping it through the integrated till.

FIS were able to work with Goldsmiths and their incumbent terminal technology to integrate the stored value solution seamlessly throughout their brands, locations and Point of Sale (PoS).

The gift cards are durable, portable, and re-loadable. Each time a card is used at the Goldsmiths’ integrated PoS, the transaction is verified by FIS and a response is sent back in less than a second, ensuring the transaction is processed quickly and efficiently at the Point of Sale.

FIS have fully resilient, dual primary data centres in the UK, operating with no single point of failure, monitored and maintained 24/7. Continuously providing Goldsmiths with reliable and efficient service coverage.

goldsmiths-v2-6FIS has also developed an insurance replacement card scheme for Goldsmiths using the same technology platform. Goldsmiths partner with insurance companies to provide replacement cards to claimants for jewellery items. Claimants who have had jewellery stolen are now provided with a Goldsmiths replacement card loaded to the value of their claim – their cards can be redeemed in Goldsmiths stores.

Goldsmiths also take advantage of the management information collated by using the FIS real-time web reporting solution, to monitor and track gift card transactions across all their stores.

Due to the success of the partnership with FIS, Goldsmiths also introduced a multi retailer insurance replacement card to their portfolio. This provided them with a new route to market. Goldsmiths are now able to deal with insurance companies who would not deal with a single retailer, as they prefer their customer to be able to browse at a wide range of reputable stores.

Business Benefits

Goldsmiths now retail their own branded gift cards to increase sales and customer loyalty by driving footfall and promoting impulse buying.

The seamless integration of the new products throughout all Goldsmiths locations was achieved with minimal disruption to current processes and without major investment.

Gift and insurance replacement transactions are swiped through the PoS and are verified by FIS in real time, ensuring customer satisfaction and promoting good queue management at the till.

Gift cards and insurance replacement cards are increasing footfall and customer spending for the company.