Without a doubt, the busiest time of the year for most businesses is the holiday season. With Halloween, Thanksgiving, Christmas, and rolling into New Year - Merchants can expect to see consumer purchases spike exponentially. Of course, more credit card transaction purchases equates to more credit card processing fees. So how do businesses lower their bottom line to gain more profits?
One strategy for businesses is to ramp up gift card sales. Most processor don't charge a fee for gift card transactions. Those savings can add up for high volume businesses for months to come. Gift cards also serve as a great customer retention tool if the program is executed correctly. Successful gift card programs result in greater customer loyalty, higher dollar purchases, and company branding. With more sophisticated programs, merchants can pool their gift card purchases, essentially creating a co-op of cross marketing and promoting among each other.
Ask your processor what their gift card program entails, or contact us for program options that will benefit your business(s).