Gift cards are widely used in the commercial sector for marketing, sponsorship and gifting purposes. Control drawbacks such as security hazards, shrinkage, administration concerns, reconciliation, settlement and auditing however, have had a negative impact on the widespread distribution of gift cards.
EasyPay's Gift Card service supports the electronic generation, issuing, redemption and settlement of gift vouchers in paper, mag-stripe or stored-value card format. The service is supported by web-based administration tools and reporting, reconciliation and settlement facilities.
Whilst the system supports both paper and card-based vouchers, a card-based solution allows for the re-use of cards by consumers, additional funds can easily be loaded, and the system provides various marketing and branding opportunities which can be extended into the loyalty scheme domain. Paper-based vouchers can only be used once.
EasyPay launched the Gift Card service for the Edcon Group in 2003 and for the Shoprite Checkers group in 2004.
Benefits for Retailers:
- The elimination of all losses due to fraud.
- Increased turnover.
- Enhanced customer loyalty.
- The support of innovative business partners.
The Gift Card service provides:
- A progressive marketing, communications and strategy tool.
- Seamless deployment.
- Reliable service.
- Limited upfront costs.
- Sustainable ROI.
* Surveys done amongst shoppers indicated a 95% satisfaction rate amongst South African consumers when asked whether they would be happy to receive a gift card as opposed to a gift.