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During the 2023 holiday season, the average individual received around three gift cards. Leveraging a gift card to purchase a bigger-ticket item is commonplace and one of the reasons why gift cards are so valuable to retailers – driving that additional overspend and store visits. “About a third of people said their favorite gift was a gift card,” Sarah Kositzke, Director of Research at Blackhawk Network said. “Most people are still getting single-branded cards, like Starbucks or Amazon, which account for 75% of gift card buys. The Visa and Mastercard options and multi-branded cards are picking up steam though.” Read more: https://lnkd.in/ect4GqrA #payments #prepaid #giftcards #trens #merchants

Prepaid Gift Cards: 5 Easily Steps for Purchase Online https://zurl.co/m53M #giftcards #onlineshopping #shopping #christmas #balckfriday #deals #sale #discounts

🛍️ 💳 In New Zealand, the absence of a mandated minimum expiry period for gift cards is out of step with other markets and continues to raise concerns at the regulatory level. Proposed legislation aligns with international practices in countries like Australia, the United States, and Ireland, ensuring gift card validity for 3 - 5 years. #nzretaillawyer #consumerlaw #retailnz #consumermarketsnz

For most people, the remainders are a few bucks of wasted potential caffeine and sugar. For Starbucks, they are worth hundreds of millions of dollars each year, according to a consumer advocacy group in Washington state that wants to end the "Gift Card Loophole." Changes in the coffee giant's home state could affect gift and loyalty cards nationwide. The Washington Consumer Protection Coalition (which notes that its top funding contributor is the Service Employees International Union) is pushing state legislators to remove a provision dating back to 2004. While that 2004 legislation was relatively consumer-friendly for its time by barring gift cards from fully expiring and eliminating maintenance fees, it allowed funds left on cards, or now on mobile apps, to be claimed as revenue by companies. Under proposed legislation backed by the WCPC, those funds would instead go to the unclaimed property division of the Washington Department of Revenue. Before that happens, other reforms would allow for cashing out small amounts left on gift cards (by combining them with cash for payment, for example), requiring companies to inform customers of unspent funds before they are diverted, and potentially removing minimum "reload" amounts on phone apps. Customers could still spend …

In 2024 we expect the gift card customer journey to expand and become more interesting for many gift card users. Brands will find opportunities to personalize the experience of cardholders who opt to digitize their physical cards. Read on for more card insights from #PaymentsJournal ▶️ https://buff.ly/485Xmj7 #GiftCardMarketing #Retailing #MarketingCardTechnology #MCT #PrepaidCards #GiftCardTrends #PaymentCards

How to spot Altered Gift Cards Spotting altered gift cards can be challenging, but there are key signs to watch for: 1. Packaging Damage: Look for any signs of tampering or resealing on the card’s packaging. Wrinkles, tears, or glue marks could indicate interference. 2. Scratch-Off Panels: Inspect the PIN or activation code panel carefully. If it appears scratched, peeled, or uneven, it might have been tampered with. 3. Check the Code’s Consistency: The PIN or activation code should match the formatting of other cards in the store. If it looks different or out of place, it could be altered. 4. Verify the Checkout Scan: When the card is scanned at checkout ask the clerk to tell you who the card was crediting. In other words, an Apple card should show as an Apple card in the register, if it says anything else, it could be altered. When in doubt ask for the store manager to ask if the card is real and untampered. 5. Balance Verification: After purchasing or using the card, check the balance by calling the retailer or visiting their official website. Discrepancies in the balance could indicate a tampered card. 6. Retailer’s Response: If the retailer’s employees seem unaware of the card’s condition or hesitant when asked about its legitimacy, it could be a red flag. 7. Unusual Card Appearance: Be cautious of cards that look different from others on the rack, have misaligned prints, or appear oddly discolored. While these signs might not always be conclusive, they can help consumers identify potentially altered gift cards and avoid falling victim to scams. If any suspicions arise, it’s wise to inform the store immediately. If you feel uncertain about a gift card do not buy it!

How to enhance your retail success. Here are 7 reasons why your shopping centre should have a gift card programme 👇 Expert advice from the team at Shopping Centre Gift Card, powered by Crunch Payments https://lnkd.in/eM4x6ue2 #shoppingcentre #giftcard #shoppingcenters #retailsuccess

As I read more and more news about this or that gift card being released, I realize that the growing popularity of gift cards, driven by consumer preferences for major events and holidays, is changing how and where people buy them. Today, financial institutions are recognizing the potential of gift cards as a loyalty driver and are partnering with technology providers to offer incentives to purchase them. Additionally, BNPL providers such as Affirm are entering the gift card market to diversify their offerings beyond e-commerce, seeking to capitalize on the increase in holiday gift card purchases and expand their market presence, which certainly indicates great prospects for scaling this market. Do you think that gift cards still have a lot of potential today or are they something that will sooner or later fade into oblivion? #GiftCards #FintechTrends #LoyaltyPerks #FinancialInstitutions #Fintech #PeerToPeerApps #UnusedGiftCards #CustomerEngagement #InnovativeSolutions #BNPL #DigitalPayments #AlternativeSpending

Gift card incentives are a powerful tool for motivating shoppers. Merchants can keep their customers engaged by rotating popular gift card promotions. Find out more in the Q3 2024 Gift Card Gauge from Fiserv.