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New Gift Card Regulations Make for a More Valuable Incentive

When your business considers what kind of incentive to use for its clientele, a key consideration is the incentive’s perceived value. Gift cards have always served well in this area, as they represent virtually anything the customer desires. Gift card regulations are now eliminating the one downside that some thrift-savvy customers had noted, unused residual balances.

With House Bill 5564, Connecticut is joining 11 other states in requiring that customers receive the full value of their gift cards, by requiring merchants to receive a cash refund of any remaining balance under $3.00.

What these gift card regulations mean for incentives: increased gift card value.

A constant quandary to gift card incentives is dollar amount. It’s not enough just to choose an attractive amount and a popular merchant.

When your businesses is paying for 3rd party incentives, you want the recipients to receive their full reward. Your customers are also conscious of this fact. A $5 Starbucks gift card is a great gift. Who doesn’t love an invigorating beverage treat? But, what if your customer isn’t a regular Starbucks customer? What would once have been a disappointing receipt showing the change they’ll never use, is now cash in hand, thanks to these gift card regulations.

Both your business and your customers can now receive the full value satisfaction of that gift card incentive!

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