What I can I do with stored value to improve the consumer experience?
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From our perspective, stored value is under utilized in the marketplace, we can help you truly unlock the value of stored value in a number of ways.  In fact, when thinking of stored value there are 3 categories, which require their own program to manage and optimize accounting and legal requirements and analytics data.

Gift Card

Preloaded debit card purchased by a consumer that allows the cardholder to use or gift it for the purchase of goods or services from the issuing business.  Note: Gift cards are regulated by the Credit CARD Act of 2009.

Promotion

Preloaded debit card funded by the business, as a market expense, for a promotion to motivate consumer activity during a specific event or time period. Note: Promotional cards are excluded from the restrictive gift card regulations, Credit CARD Act of 2009.

Merchandise Credit

Preloaded debit card funded by the business and issued to a consumer as the result of returning previously purchased merchandise. Note: Merchandise credit is excluded from the restrictive gift card regulations, Credit CARD Act of 2009.

What types of promotional campaigns can I run with stored value?
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Promotional campaigns drives customer engagement while providing you reporting to know exactly which campaigns return you the highest value.  Here are a few ideas,

  • GIFT WITH PURCHASE: Spend $50, Get $5 promotion card
  • PRODUCT PROMOTION: Spend $75, Get a promotional gift
  • DISCOUNT CARD: Purchase of $50 or more, Receive a 10% discount
  • BONUS VALUE CARD: Spend $50 gift card, Receive extra $25 of stored value
  • SINGLE USE GIFT CARD: Send a $25 gift card to top spenders toward purchases over $150
  • FRANCHISE CARD: Offer cards that are usable across multiple affiliated franchises

Can you tell me more about gift card regulations?
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We always recommend you consult with an accountant or legal resource since each state provides additional guidelines regarding escheatment, however here is a brief review of the Credit CARD Act of 2009, from the Federal Reserve Bank of Philadelphia,

Section 401 of the Credit CARD Act requires disclosures for gift certificates, store gift cards, or general-use prepaid cards fees and expiration dates; limits dormancy, inactivity, and service fees for these cards and certificates; and establishes a minimum period of five years before the underlying funds for these cards and certificates can expire.