OPEN LOOP GIFT CARDS:
Open loop products are made up of credit card and debit card products including Visa, MasterCard, American Express, and Discover. Better ATM® Services' patented technology enables ATMs to dispense gift cards just like cash from an ATM cassette.
Better ATM® Services' unique card format includes a three-panel card made of a poly-based material that is one-third the thickness of a PVC card much like transit passes. . Produced on a sheet that fits the ATM cash cassette, the snap-apart, three-panel card allows for the greatest profitability. A single panel can be used for the main gift card or other prepaid media offering, while the second and third panels can be used for advertising, main product selling points, promotional items, coupons and incentives or additional gift card combinations.
Here’s a snapshot of the market for Open Loop Gift Cards and what you need to know about ATMs and Open Loop Products.
- Gift Card Sales Numbers
- Special Considerations
- ATM Capabilities
- What Do I Need to Do to Start Selling Open Loop Gift Cards from My ATM?
1. Gift Card Sales Numbers
- Open-loop load sales are expected to exceed closed-loop load in 2014 according to Mercator Advisory Group.
- Consumers spent an average of $203 on open loop Cards in 2011.
- More than half of consumers would prefer to receive a $25 gift card than a gift valued at $45. (First Data, Consumer Insights into the U.S. Gift Card Market: 2011) Back to List
2. Special considerations
- ATMs dispensing open loop gift cards require Better ATM® Services' Phase II technology to properly activate the card during the purchase process.
- A sponsoring bank is required for proper authorization to sell open loop gift cards. Contact us at info@betteratmservices.com or call us at (480) 296-2033 to find out how we can help.
- Take a look at Better ATM® Services' ATM-dispensed Visa gift card. (Need Link to Sample Visa Gift Card) Better ATM® Services has designed and developed approved open loop gift cards for distribution by certified ATM owners including ginancial institutions, credit unions, IADS, and ISOs. Back to List
3. ATM Capabilities
Better ATM® Services' Services’ Phase II technology must be installed on the ATM in order to properly activate an open loop gift card during the purchase process. Better ATM® Services has certified ATM models and dispensers from several manufacturers including Diebold, Triton and NCR. Back to List
4. What Do I Need to Do to Start Selling Open Loop 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 Open Loop Gift Cards. Back to List - Need to Restore Links Back to List
