The Merchant Processing Implications for Gift Cards: A Small Business Guide

As a small business, you may be wondering if it’s worth your while to get into offering gift cards to your customers.  You may think it involves giving out free money to people, and that’s bad business – right?

The thing is, investing in gift cards isn’t nearly as bad as you may think. In fact, handing out gift cards can actually increase the amount of money your business makes.

So how does this all work, and what exactly can this do for your company? Keep reading to find out how getting gift cards for your small business can help your company succeed.

Like any debit or credit card, gift cards have a whole host of benefits for the user, but with a twist: there are benefits for businesses as well.

The very first thing you should know is that gift cards make a customer return to your store more often. Why is that?

Well, when people get their hands on a gift card, they feel compelled to spend it at the store. In fact, customers who have gift cards are  three times more likely  to shop than those who don’t.

This will entice them to buy more items in your store, further putting money in your pocket. Customers who come in with a Gift Card almost always spend more than the value of the card, so it’s a definite win for you.

Getting started on a gift card program is also really easy. For small businesses, it’s best to have a closed loop gift card system. This means the gift card can only be used in your store, allowing all the returns to stay in your company.

Want more of an incentive? For as low as $100 a business can have their own gift card program. It can also be used as a giveaway,  as a promotion , or for people who want a refund with no receipt.

Oh, and one more thing – gift cards are a simple and efficient way to advertise your business.

When one customer shows their gift card to a friend or family member and tells them about the awesome deals your store has, you could potentially bring in another buyer without having to do anything yourself.

Lesson of the day: gift cards are beneficial in so many ways, and using them will do nothing but help your business. It’s about time you started looking into getting the plastic.

If you’re looking for ways to use gift cards for small businesses to make your company grow to new heights, You should definitely give us a try. At Retriever, you’ll find that our products and customer service are second to none.

We specialize in many different services, including  point-of-sale systems , mobile payment apps, and custom solutions. We also offer our processing solutions to retail institutions, professional businesses, and on-the-go merchants.

Have a question you need us to answer? Not a problem. Just  reach out to us  and we’ll be sure to get back to you about any concerns you may have.

We look forward to hearing from you.

The post The Merchant Processing Implications for Gift Cards: A Small Business Guide first appeared on Retriever, Advantage Merchant Services.