As part of the Credit Card Accountability Responsibility and Disclosure Act of 2009, Congress has targeted many practices related to gift cards purchased by consumers. If your company issues gift certificates or gift cards, you should familiarize yourself with the rules that came into effect on August 22, 2010.

Some of the changes include caps on service fees for inactive or dormant cards. In the past, consumers may have received a card as a gift or put it away and forgotten it. Card issuers would add fees to the card so the balance convert gift cards to usdt would dwindle over time, eventually to zero.

Under the new gift card rules, they are only allowed to charge these fees if there has been no activity on the card within the one-year period prior to charging the fee. The business or card issuer is also limited to being able to charge a fee per calendar month.

In addition, they must clearly identify all charges on the gift certificate or gift card and the details must be provided to the purchaser prior to purchasing the gift card.

The expiry dates of gift cards and gift vouchers are also limited. The money on a gift card or certificate does not expire for a period of five years from the date of issue (or last top-up for gift cards). As with fees, the expiration must be clearly stated on the gift certificate or gift card and disclosed prior to purchasing the card.

If your business sometimes issues promotional gift cards, which are essentially coupons, you might fall under some of these rules too. To avoid consumer confusion, the new rules require that when you issue a loyalty, rewards or promotional gift card or gift certificate, you must clearly state on the front that it has been issued for that purpose.

For example, if you have a restaurant and sent out 5,000 promotional “gift certificates” for $5 each in the local paper, you need to start with the gift certificate that was for promotional purposes and include the gift certificate’s expiration date, if any. If a “Gift Certificate” is issued for promotional purposes, the 5 year expiration date rule does not apply.

If your small business uses gift certificates or gift cards, it’s a good idea to make sure you understand these rules and that you have the proper policies and procedures in place to ensure you follow the new rules. With the overwhelming amount of regulation that affects small businesses on an almost daily basis, it’s important to make sure you get the right business, financial and legal advice on these issues from your accountant and attorney.

Email Gift Cards – The Best Gift for the Digital Age?

While many get a brain freeze trying to figure out what would be the best gift to send to a business associate, distant friend, or close relative, others don’t sweat it. The reason: They think digitally, others don’t. What does it mean to think digitally?

Thinking Digital Thinking Smart

Put simply , thinking digitally means using all of today’s digital technology to make life a lot easier. Now that we have the ability to send a text message from our cell phone, we don’t bother calling and getting upset that the call wasn’t answered, or wasting precious minutes trying to figure out what we’re on voicemail. to say news. We just write an SMS and wait for the answer.

If we need to send a message with more details or with a document attached, we’ll email it and it’s done. Since we don’t sweat it when it comes to sending a text, photo, or important document, why bother sending gifts?

Email Gift Cards – Making the Most of It

Email gift cards are the perfect gift for any occasion. Simply buy the card with a certain load value and send it to your recipient. Everyone loves to find a thoughtful message in their email, so why not send a digital gift? To get the most out of a digital gift card, don’t buy one that can only be used at a specific retailer.

Get a digital card that allows you to purchase items from hundreds of retailers online. This allows your recipient to shop anytime, anywhere, and buy just about anything with an email gift card from a multi-store marketplace.

Multi-Store Marketplace

What is a Multi-Store Marketplace? Just a fancy way of saying an online retailer warehouse offering great deals on items from a variety of online stores.

Digital Gift Card Advantage email gift cards make

Ideal back-to-school gifts for elementary and college students. Give them a ticket to their favorite restaurant or to buy some much-needed clothing or supplies. Other good reasons to send digital gift cards include: new home, get well soon, welcome back, seasonal celebrations, newly married and just to say thank you. There are so many other advantages to sending digital gifts over physical items. Here are just a few:

  • Email gift cards are never returned
  • Saves hours searching for the right product
  • Avoid disappointment
  • A practical alternative
  • Safer than cash
  • Save on gift wrapping
  • save kilometers
  • save gas
  • Save shipping costs

No Returns Means No Regrets Have you

Ever sent a gift and convert gift card to naira later regretted it? You may have learned that the color is wrong, or the recipient may have already received something similar. Don’t worry anymore about finding the right gift voucher. Also, no one returns a gift that’s as good as cash. Multi-store email gift certificates may be the top gift of the digital age.