Gift cards are a simple and lucrative venture for any business, big or small. Regardless of the dollar amount people load onto the card, you receive direct payment for their purchase. But what do you do once customers redeem the gift cards? Discover what businesses can do with used gift cards.
Recycle Gift Cards
One of the simplest options for gift cards is to recycle them. Like most other plastics, waste management plants can easily recycle gift cards. If you choose to recycle these single-use plastics, you will help the environment one card at a time. Since this path is such an environmentally friendly option, you can market this process to your customers and even encourage them to recycle old and unused gift cards at home. This is just one small step toward making the world a greener place.
Reload Gift Cards
Depending on the gift card system and the card itself, you can reload the cards with new balances. Many people receive gift cards for stores where they enjoy shopping. Offer customers the option of reloading their gift cards at the cash register when they use them up. This encourages customers to either invest in future products or gift the card to someone else. You can also reload gift cards on the back end after customers hand them over. You can wash and reload each card for reuse in the system.
Transfer Gift Cards
Some customers will bring gift cards with leftover balances or unused cash. Though this is rare, you should still prepare yourself for handling the scenario. Once the customers leave these cards with you, transfer any remaining balance internally, and credit the cash as used. This way, you will know when all the money you sent out has returned to your store.
Now that you know what businesses can do with used gift cards, you can plan for returning cards. No matter which path you choose, you will need gift card processing software to handle the cards. Contact us at Business Software Solutions to hear more about our gift card program and management system.