Benefits
You're business is missing customers when you only offer "standard" payment solutions. This is what we can bring you:
True Privacy
Sometimes, privacy & discretion are important. Other times, customers don't want their purchase history sold or studied by banks. Or maybe they just don't want to risk falling victim to yet another security breach.
When a customer trades in a gift card, all we need is the card number and pin to validate the funds. No personal information, such as a name or address, need to be revealed to us or to any other third party. The only person that has to know your customer is you.
Reach Further
75 million Americans don't have a credit card, and 35 million are non-banking. With store gift cards, all of these people become potential customers, since they have a convenient, easy alternative to pay for goods online.
More Convenient
Gift cards are sold everywhere. Many people already have them, sitting at home. In fact, store brand gift cards are the most requested holiday gift year after year for the last 15 years, with more then 60% of survey respondants asking for them.
Despite the popularity among consumers, nearly $2 billion of gift cards go unused each year! There are many reasons for this, boiling down to forgetting the cards at home, receviving cards to the wrong store as gifts, etc. When they can use these spare cards on your website, it becomes a no brainer.
Boost Sales
Research shows that when people spend money with cash, it activates the pain centers of their brain. This decreases the more psycologically removed from money a transaction becomes. Consumers spend more on a credit card than they would on a debit card, and more on a debit card than they would with dollar bills.
Store gift cards are at the far extreme of this spectrum, making it a very "low friction" form of payment. Encourage the most return on your products by offering easy, alternative payments, such as gift cards.
Reduce Costs
Typical merchant processors charge 3% or more, plus you need to worry about reserves and chargebacks, and have to go through lengthy application processes.
We work in a very different type of vertical, which makes the process much easier and less expensive. Behind the scenes, we sell giftcards on secondary markets, and are not operating as a financial institution. We charge less than 2%, depending on the brand, and have no equivalent process of chargebacks. There are other subtleties that we handle, specific to gift cards, but the process is far less overwhelming than credit card processing.
