Are you in the business of buying and selling gift cards and merchandise credits on the secondary market?
A complexity involving the purchase of gift cards is the risk that the Cards Go Bad. What do I mean by that? Well, when you purchase the card, you check the balance and everything is OK. So, you complete the transaction with the customer. A short time later (hours, days, or weeks) you go to check the balance again and it is Zero – wiped out!
Why does this happen? A variety of reasons: Bad Customers. Sometimes customers are dishonest. A bad customer may come in to sell the card to you, but then when they leave the store they can go online and spend the value if they have saved the card numbers and pin. Alternatively, the bad customer may return to the merchant to report the card lost or stolen. In this case the merchant can go in and eliminate the balance on the card and re-issue a new card to the Bad Customer. Finally, if a Bad Customer purchases a gift card from a Merchant with a credit card or check, then later reports the transaction as fraudulent or cancels the check, the Merchant may wipe out the balance on the gift card to cover their losses.
So, how can you mitigate the risks and profitably buy and sell gift cards and merchandise credits from your storefront? We have developed an online system which will provide real-time pricing, access to a database of bad customers, and quick disposal and re-sale of the cards for you.
The system is NOW OPERATIONAL!
Are you interested?
Then contact us today for more information.
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