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1st Gift Card
Gift Cards, Stored Value Cards, Pre-Paid Cards...are the revolutionary new payment solution that provide benefits for both the merchant and the customer. Resembling a common credit card, Gift Cards are a powerful marketing and sales tool for your business. Use Gift Cards to start generating revenue for your business now!
Gift Card Overview
A Gift Card is the size and shape of a common credit card, and has a standard magnetic strip on the back. Also, Gift Cards are custom-designed to promote YOUR business, and provide valuable advertising whenever it is used.
A typical Gift Card program has the merchant offering full-color, plastic electronic gift cards instead of traditional paper gift certificates. Customers purchase these cards (using cash, check, or credit card), and the card is activated on the spot with a simple 'swipe' through the card reader. This activation records the starting dollar amount in a central, secure database. The card's magnetic strip also identifies the cardholder, card number, and merchant location for which the card has been issued.
When using the card to purchase goods or services, the Gift Card is used just like a credit or debit card, and is authorized using the same credit card system that is already in place (Gift Card Technologies also offers an entire solution, including the authorization terminal and all equipment.) The dollar value of the purchase is subtracted from the account total in the database, the purchase is logged, and the new card value is recorded.
At any time, the card owner may "reload" the card with any dollar amount they wish... effectively transforming the "Gift" card into a "Stored Value" card. Often, a premium is offered on Gift Card value, such as a $50 reload purchase worth $60 in stored value. The card continues to function in the same way as before, with all purchases tracked by our state-of-the-art system. Users may also "reload" their cards online, using our secure website.
The stored value card system operates as real time as a closed loop debit network. Transactions, such as card activation, sales, voids and balance inquires from the point of sale, are transmitted to the Data Center. The transaction request is fulfilled or authorized, data is captured in the merchant/client database and an approval or requested information is transmitted via the POS terminal. The POS printer produces a paper receipt of each transaction, including the associated card balance, for the merchant and the customer.
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