Why
electronic gift cards vs paper? A:The
electronic gift card concept is quickly becoming the medium of choice for retailers across
the country. Among the significant reasons are: No Cash Back (value remaining after
partial redemption stays on the card, ensuring additional opportunities to solidify the
customer relationship or retain funds) and real time Data Capture (virtually eliminates
both the losses associated with paper gift certificates and costly tracking and
accounting).
Q:What
are the benefits of this program to a merchant? A:Electronic
gift/stored value cards are convenient (carried in wallet with other plastics), secure
(cannot be photocopied) and as a branded "billboard in a wallet" establishes the
merchant as the destination. With this product, a merchant will gain more name recognition
and exposure in the marketplace, further widening its existing customer base.
Q:What
is the difference between a Gift Card and a Stored Value Card? A:There
is no difference in the functionality of the cards, both are pre-paid value cards. With
the gift card, the customer is excited about a slick, state of the art gift-giving
solution that allows the receiver to actually choose the gift. The merchant benefits from
replacing an obsolete paper gift certificate program with todays technology,
electronic processing. With the stored value card, an emphasis is placed on enhancing the
individual customer relationship through the use of incentives and an optional associated
rewards program.
Q:How
does the Gift/ Stored Value card work? A:A
customer enters the merchants establishment and asks to purchase a gift / stored
value card. The merchant takes a card from inventory and activates it for the dollar
amount desired by swiping the card through their POS terminal. The card is now ready to be
used at any participating store location.
Q:Will
I be able to utilize my existing equipment? A:NCC
Systems' card programs are certified to run on a wide variety of credit card terminals and
point of sale systems. However, older equipment models often do not have sufficient memory
or processing capacity to run more than one application. If that is the case, an
inexpensive standalone terminal may be used for processing gift card transactions, or you
may upgrade to a newer, multi-function terminal and process credit cards and gift cards on
a single machine. For a complete listing of compatible equipment, click here.
Q:What
type of reporting will I receive with this program? A:Merchants
receive daily and monthly reports. The Daily Batch report produces a chronological list of
all transactions, a total count and total dollar amounts by transaction type occurring
since the terminal was last cleared. A monthly Corporate Summary statement is provided
which reports all transactions captured on the host database during that time period, as
well as total fees billed. This report aggregates transactions at the corporate level and
by location. Delivery methods include electronic transfer, facsimile or hard copy.
Q:How
soon can the card be redeemed at a participating store location after value has been added
to the card? A:The
gift/stored value card may be used immediately after activation. Gift Card and other
Stored Value card transactions are processed in real time.
Q:When
should cards be reordered? A:Merchants
should always be aware of their card supply so as not to deplete their inventory during
their peak season. Keep in mind that when reordering cards, the process will take 15 days
from the time of order plus time for shipping and handling. If cards have been
pre-produced and stored, the only time involved will be the shipping of the cards.
Q:How
do I get the customer with an existing card to add more value? A:This
is a very important revenue generator and can be very profitable for your business. The
use of incentives with the program will entice consumers to add value to the card. For
example, if a customer adds $50 to his existing card, offer to give that customer $55
worth of value or offer discounts or additional services specific to gift card users. The
add-value feature of this card program offers limitless marketing
opportunities to enhance customer relationships, increase purchase frequency, and build
brand awareness.
Q:How
do I get my employees fired up about the Gift/Stored Value Card Program? A:Incentives,
incentives, incentivesa concept that works with customers and employees alike! A
reward program encouraging friendly competition between employees will build a strong,
goal-oriented team while promoting your new and dynamic gift card program.