ONLINE / VIRTUAL GIFT CARDS:
Many online prepaid cards have the same functionality as a normal bank-issued card allowing users to buy goods on websites that accept credit and/or debit cards. A number of merchandisers are offering open loop or closed loop gift cards that are only redeemable online. Some of these cards allow consumers to opt for a physical card that is sent to them in the mail for a small fee.
Here’s a snapshot of the market for Online or Virtual gift cards and what you need to know.
1. Online or Virtual Gift Card Sales Data
2. Special Considerations
3. ATM Capabilities
4. What Do I Need to Do to Start Selling Online or Virtual Gift Cards from My ATM?
1. Online or Virtual Gift Card Sales Data
- Virtual gift card sales are projected to reach $8 billion by 2013 and $11 billion in 2014. (Tower Group)
- For the 12 months ending May 2011, about 13% of consumers had bought some kind of virtual gift card. (Mercator Advisory Group)
- During the 2011 holiday season, (October 1st through December 31st) an average of 33% of sales moved to e-Gift cards. (Fuze Buy E-Gift Card Report March 2012)
- Retailers gain with the sale of virtual cards. Virtual cards cost about $1 to $5 to deliver. (Digital Transactions, Components: Gift Cards’ Virtual Reality)
2. Special Considerations
- Any Online or Virtual Gift Card program can be printed on Better ATM® Services' gift card sheet and dispensed from an ATM.
- Better ATM® Services can assist in coordination of the printing as we have identified and certified specific gift card manufacturers.
- Better ATM® Services has “ride along” and coupon offers that can be coupled with traditional gift card offerings.
3. ATM Capabilities
Purchasing Online Gift Cards or Virtual Gift Cards at ATMs presents no dispensing limitations because a thinner media is used. That means more flexibility because several more brands and models of ATMs are certified to dispense Online or Virtual Gift Cards. Better ATM® Services has certified ATM models and dispensers from several manufacturers including Diebold, Triton and NCR. We are available to discuss how we can address your specific needs.
4. What Do I Need to Do to Start Selling Online or Virtual Gift Cards from My ATM?
- Contact Better ATM® Services at info@betteratmservices.com or call us at (480) 296-2033 and let us know you’re interested in selling Online or Virtual Gift Cards.
