Gift Cards are Rebounding with POS Systems for Merchant Services

Retail gift cards are on the gain with POS systems for merchant services.
Good news on the prepaid card front: retailer gift cards, after losing ground in 2013, rebounded in 2014.

Los Angeles, United States – September 14, 2015 /MarketersMedia/ —

Retail gift cards are on the gain with POS systems for merchant services.

Good news on the prepaid card front: retailer gift cards, after losing ground in 2013, rebounded in 2014. The total of dollars loaded onto retail gift cards grew 9 percent last year, according to a new report. Closed-loop gift cards continue to be popular for retailers and their customers. Retail Gift Card Trends in the United States: 2014 in Review. Despite downward pressure in 2013, the market rebounded last year, and customers showed their affinity for closed loop prepaid cards.

Closed-loop card programs may also soon enjoy a regulatory advantage over open-loop prepaid card programs. The Consumer Financial Protection Bureau has been working on a set of proposals that would amend federal Regulations E (consumer EFT transactions) and Z (truth-in-lending) to cover general-purpose, open-loop prepaid cards. The rules, which are expected to be finalized in 2015, would not be applied to closed-loop retailer cards (gift cards), provided retailers issuing the cards operate physical locations where customers can obtain their prepaid gift cards.

Merchants of all types and sizes have been embracing prepaid cards as a way to grow revenues and drive customer loyalty. In fact, many have begun aggressively selling prepaid.. The number one reason that U.S. merchants embrace prepaid cards is because the cards create revenue and increase incremental store sales. Merchants may vary the types of prepaid cards they sell, but their commitment to the product set is clear and evident.

For more information on gift cards and pos systems, call 1-888-895-3129 or visit
http://www.credit-card-processing.com

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Contact Info:
Name: Jim Johnston
Organization: Merchant Resources
Phone: 1-888-895-3129

Source: http://marketersmedia.com/gift-cards-are-rebounding-with-pos-systems-for-merchant-services/91291

Release ID: 91291