ATLANTA, Nov. 3, 2016 /PRNewswire/ -- InComm, a leading prepaid product and transaction services company, today announced the exclusive launch of Gift of College gift cards at all Toys"R"Us® and Babies"R"Us® stores across the U.S.
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Gift of College is a program that makes it possible for friends and family to contribute to a child's college savings plan. Parents or guardians register the child, linking an existing or newly-started 529 plan or student loan account. Friends and family can then contribute by purchasing physical or digital gift cards that are redeemable at GiftofCollege.com, which then transfers funds directly into the college savings plan. A study out of the Journal of Children and Poverty, found that kids with savings accounts in their name are six times more likely to attend college. Gift of College can also be used by companies as a benefit to their employees.
The launch of the program at Toys"R"Us and Babies"R"Us is taking place in more than 780 stores in the U.S. (excluding Express and Outlet). In California, State Treasurer John Chiang's Office will be the first to endorse and launch a co-branded ScholarShare 529 College Savings Plan version of the card. State Treasurer Chiang will announce this launch on Nov. 15 at a press conference at a Toys "R" Us store in Los Angeles.
"ScholarShare is the first 529 college savings plan in the nation to partner with Gift of College and a major retailer like Toys"R"Us," said California State Treasurer John Chiang, who chairs the ScholarShare Investment Board. "Never before has it been this easy for relatives and friends to help their children save for college."
"We are very excited that our technology can be used to serve our children's brighter future through education," said Phil Graves, President at InComm. "As a retailer dedicated to serving kids of all ages, Toys "R" Us is a great launch partner for in-store distribution of this gift card program. Additionally, the company's large network of stores across the U.S. will certainly help to boost the program's visibility and adoption."
Leveraging deep integrations into retailers' point-of-sale systems, InComm provides connectivity to a variety of service providers that allow consumers to conduct everyday business at more than 500,000 points of retail distribution. Whether those consumers are activating prepaid products, paying bills, enjoying real-time discounts through a membership card, purchasing digital goods in-store or adding funds to an online account, InComm is there to provide unique gift-gifting opportunities, cater to on-the-go shoppers, deliver added value through loyalty programs and serve cash-based consumers. With 206 global patents, InComm is headquartered in Atlanta with a presence in 31 countries. Learn more at www.incomm.com or connect with us on www.twitter.com/incomm, www.facebook.com/incomm, www.linkedin.com/company/incomm or www.incomm.com/blog.
About Gift of College
Founded in 2008, GiftofCollege.com is a gift registry for college savings plans that lets friends and family contribute easily online or with gift cards. Gift cards are redeemable at GiftofCollege.com for deposit directly into any existing or newly started 529 plans and student loan accounts. Gift of College also provides a social savings platform where parents can promote their child's education within its community, making saving for college, simple, fun and top-of-mind.
About the ScholarShare 529 College Savings Plan
ScholarShare accounts may be opened with as little as $25. ScholarShare has no annual account maintenance fee, no income limit and offers a high maximum account balance. Established in 1999, ScholarShare, ranked as one of the top-rated 529 college savings plans in the country by Morningstar, an independent investment research firm, currently holds nearly $6.9 billion in assets in more than 278,000 accounts as of 9/23/16. To sign up for an account or for more information about the plan, visit. For information about the ScholarShare Investment Board (SIB), visit www.treasurer.ca.gov/scholarshare. Like ScholarShare on Facebook at www.facebook.com/scholarshare529 and follow us on Twitter at @ScholarShare529.
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