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Gift Cards
 By Jack Chevalier

Gift Cards, once regarded by many gift givers as too impersonal, have changed the process of gift buying into a painless undertaking that not only provides relief for the buyer but more importantly produces smiles for the recipient. It’s a win-win for everyone! The shopper doesn’t have to worry if the gift will be adequate. The recipient of the gift can now shop for their own presents and the merchant can dramatically improve sales. 

Merchants are quickly seeing the benefits of gift cards and not just the large retailers. Small business owners are now getting in on the action. One of the main benefits of Gift cards is the fact that it is a great way to increase store revenue. The dollars stay in the store where the card is used and it also gives the customer reason to come back. Gift cards also do a great job of bringing shoppers to a business that they may not normally frequent. This is because people will go out of their way to redeem the value hidden behind the card. Combine this with the fact that shoppers usually spend more than their cards initial value. And if they don’t spend the full value available on the card, the money stays on their cards until it is spent…if ever. That’s because with electronic gift cards, merchants no longer have to provide cash refunds like they did with paper gift certificates. Meaning, shoppers must either return to the store with their cards or they lose any amount left on the card. Close to 15% of purchased gift cards are not redeemed for their full value. This allows for increased income to the business owner. Gift cards also eliminate returns when the wrong gift is selected. 

Other benefits include:

·                     Increase store awareness and customer loyalty

·                     Less cash back on returns

·                     Lower administrative costs

·                     Promotional opportunities

·                     Convenience- easy to buy – easy to use

·                     Improved customer retention

 

The benefits of implementing gift card programs are evident in the numbers. Gift Cards have been exploding in popularity. In 2003 alone over 97 million gift cards were purchased, twice the number from 2002. So, with the Holiday Season right around the corner what are you waiting for? There is no better program for retailers like you to compete with the large retailers who are enjoying huge successes with gift cards right now.  

For more information please contact our sales office at 1-800-809-1989. For details on pricing Click here   
 

Manage your Credit Rating

Consumer credit is generally talked of in negative terms. But using Personal credit wisely can have its advantages. As a business owner your business and personal finances are closely related. If your Business is in too much debt then it will affect your ability to qualify for personal credit. In turn your bad record in personal credit will have an adverse impact on your ability to generate credit for your Business.

Consumer Credit Is the use of credit for personal needs by families and individuals. You need to have a good credit rating that should be sustained and protected as it might affect your capacity to get a job or buy insurance. If you want a good rating, you must use credit with discretion; limit your borrowing to your capacity to repay, and live up to the terms of your contracts.

Credit Bureaus. The credit bureaus collect and collate credit information and make it available to business that subscribe to their service. They do not deny credit; they merely .....  more....

 
 
 
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Paynet Systems is headquartered in Atlanta, Georgia. In conjunction with First Data (publicly traded on the NYSE: FDC), we are one of the fastest growing "Full Service" providers of credit and debit transactions in the United States. Our merchant-base includes, retail, wholesale, mail order, and E-Commerce businesses. By servicing all business categories, Paynet Systems is able to custom-tailor a program best suited for your specific business needs. ......more
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