Top 3 Secrets Of Gift Card Merchant Services: Time To Reveal

Gift Card Merchant Services By Quadrapay

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As now we can see a lot of advancement in terms of payment methods, the demand for diversified payment processing solution is rising. That is why it is recommended to startups, and small business merchants that are new to the market should go for a diversified processing solution. Nowadays, people demand highly demands for gift cards which makes it essential to have gift card merchant services.
For a small business, these gift cards can bring an excellent opportunity to attract new customers and attain better sales and profits.

Understanding The Different Types Of Gift Cards

For a business owner, it is necessary to understand the types of gift cards so that there will be no confusion while accepting them from customers. Let’s talk about this.

  • Electronic Gift Cards: As the name suggests, it is an electronic form of the gift card. This is usually a line of unique code which can be in the form of a text message or an email. The best part of e-gift cards is that it is easy and fast to purchase by customers and at the same time, it is easy to settle, and there is no hassle to carry and store a physical gift card. There are a lot of business merchants that are not that much aware of e-gift cards. But on the actual scenario, it provides the same weightage as a physical gift card.
  • Physical Gift Cards: These are the traditional types of gift cards which need to be purchased from the store itself or online eCommerce platforms. A physical gift is generally preferred for gifting purpose among colleagues, friends and anyone. These gift cards can be easily claimed by swiping it like a credit or debit card or a QR scanner. It is also similar to a genie prepaid card as well.

What Are The Advantages Of Gift Card Merchant Services?

There are several advantages that most of the small scale business merchants are not aware of it. By implementing gift card merchant services, a business merchant can take advantage of several extra benefits like as follows:

  • Developing The Brand Name: In terms of gift card merchant services, a business owner does not need to invest that much for brand advertisement. A business owner can start generating gift cards for their store and offer these to their valuable customers. On these gift cards, you can print the logo of your store. This will provide a great brand awareness among the community, and in the end, customers will visit your store to claim the amount in the gift card.
  • High Sales With Customers: It is well noted that when a customer purchases a gift card for a fixed amount and later on when someone redeems it, the customer actually purchases a lot more billing items more than the actual gift card value while redeeming it. For example, a user has a 100 dollar gift card, and later on, he or she visits the online store or retail store for purchase using a gift card, they usually add products more than of 100 dollars value. This gives a better profit value for a business merchant to have better sales with gift card merchant services.
  • Customer Asks For Refunds? No Issue!: In most of the eCommerce store or any other store where a refund or return period is available, customers generally ask for a refund or return the item. Such refunds can attract higher chargebacks to the business merchant. But with the help of gift card merchant services, if the customer has purchased with a gift card, then the owner can offer the same to be reversed in the form of the gift card. This will allow the merchant to get safeguarded from chargebacks and also at the same time, the gift card will be again used in your store only for the next purchase.

For more info on Gift Card Merchant Services, you can drop us a mail at [email protected].

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Naman Verma
Naman Verma