Gift card programs are shown to have a high return on investment (ROI) and increase revenue for a few key reasons, including:

• Boost your brand: Offering gift cards is a means of promoting your company’s brand, and it can even bring in new customers. Those who purchase gift cards are likely to give them to family and friends, meaning they are marketing your business and sending new customers your way. Even better, they are paying you for the opportunity to do so!
• Retailers get paid upfront: Gift cards enable retailers to get paid upfront regardless of whether the card’s recipient ever chooses to redeem its value. This means your business is profiting even if that card sits unused.
• Increase revenue: Did you know customers are more likely to spend the entire amount of money on a gift card than all the expendable cash they have on them? That is because while spare cash could be used elsewhere, your gift card can only be used at your store. This provides an incentive to spend more.
• Customer convenience: Gift cards are often more convenient methods of payment, especially where cannabis remains a cash-only market. Since many consumers do not carry cash anymore, a gift card makes the buying process easier for them.

Gift cards remain an effective way of making upfront sales and attracting new customers, and the industry is only expected to grow in the coming years. At WNY Merchant Consulting, we offer gift card solutions for both brick-and-mortar and eCommerce high risk businesses looking to offer their customers more options. When setting up a gift card program for your company, WNY Merchant Consulting ensures all details are compliant with federal and state regulations surrounding cannabis.

Different types of programs WNY Merchant Consulting offers include:

• Promotional cards
• Reloadable cards
• e-Gift cards
• PIN Security