Who Sells Amazon Gift Cards?

History Of Gift Cards

You will never guess who invented the gift card. Visa? Nope, Target? not even close. It was Block Buster who first displayed the gift card.

If you are looking for a present for a friend, family member or co-working, chances are you don’t know where to start, so you’ll grab a gift card—it’s a more thoughtful present than giving cash. However, it still offers the person receiving the card to make the final choice on a present. In other words, they can buy something they will like. Better than another chia pet.

Believe it or not, the gift card has only been around since 1994. Neiman Marcus Express Card is actually the first gift card introduced in 1994, yet they didn’t advertise and display the cards to the public. Amazingly, it was Blockbuster Entertainment who is credited as the first to display the gift card in its stores. Although the concept was embraced by phone companies well before 1994. The next big step in gift cards was from Starbucks in 2001 who introduced cards that worked more than once, like the Amazon gift card we know today. 

These days gift cards are loved or hated depending on who you ask. They are not as personal, however, you don’t have to worry if it fits or not. Every year gift cards continue to grow in popularity.  If you are interested in more information about the history of gift cards check out this in-depth article.

Future of Gift Cards

Mobile gift cards are growing in popularity. These are gift accounts delivered to mobile phones via email, SMS, and phone apps allows a user to carry the account using their smartphone. This system has become very popular with the Starbucks card and app. The benefits include tying the card or account to a specific phone number for ease of distribution and security.

With that said, security will continue to be a big issue as it related to gift cards. Keep them safe and keep track of your accounts, which you can easily do for your Amazon gift card at amazon.com.

More about gift card future

The future of gift cards is fairly solid. The gift card market continues to have incredible growth. There is little sign of it slowing down too. 

However, this does not mean that how people use gift cards will not change over time. The elimination of traditional gift card may not go away, yet, the physical gift cards days may be limited.

Today there is more to gift cards. They are beyond a way to just give versatile gifts to your friends and family. Now, gift cards have continued integration with loyalty programs. Gift cards are now used as promotional tools and incentives by large companies, this is changing the ways that we use and sell gift cards.1

The integration with mobile apps continues to grow. It is true mobile application sales are not growing as quickly as they have in the past, and where expected. Yet, the use of mobile apps . has increased as part of loyalty programs with include digital gift cards.

Businesses should and are placing increased focus on app support for gift cards, in order to drive sales. If retailers can sell gift cards on mobile devices, such as Starbucks, and provide a simple, intuitive experience for the user – they could lead the field. 

As mentioned, one of the best examples of a company implementing an app-based gift card program is Starbucks. The MyStarbucks app. is responsible for driving a large amount of gift cards sales for the Starbucks chain.

The reason for the gift card success is because the MyStarbucks app.  integrates gift cards, payment, loyalty points, and gift card purchases into one seamless, easy-to-use app. The key here is easy to use. Starbucks has integrated their entire gift card system into one powerful application, allowing Starbucks customers to quickly and easily purchase, use, and be rewarded for buying gift cards.

Digital gift card Sales Will continue to rise

Over time, we’re likely to see a large increase in the sale of digital gift cards. The growth of digital gift cards over the last several years is dramatic. Although the sales of traditional gift cards are still growing, digital gift cards are growing faster.

There are a couple factors. First, younger generations which include millennials and “generation z” are now to entering the workforce, which provides them with more purchasing power, and an increased ability to spend money. Since these younger consumers are more familiar with modern technology, they’re more likely to adopt modern products like digital gift cards.

Modern technology is also making it easier to sell gift cards that are fully digital. This makes it easier for consumers to redeem these gift cards, both online and in-person at the store. In the past, digital gift cards often had to be printed physically to be used in stores, However, today, almost all digital gift cards support QR codes and digital wallet apps like Google Pay and Apple Pay, making them much easier to use and redeem.

Digital gift cards are here to stay. Both Amazon and Starbucks have lead the way, however, other retailers are discovering the benefits and developing creative new ways to use gift cards. 

The Facts: In 2009, Congress passed the Credit Card Accountability Responsibility and Disclosure (CARD) Act, which set consumer protections for gift cards based on many current state laws. The law provides that gift cards cannot expire within 5 years from the date they are activated and generally limits inactivity fee on gift cards except in specific circumstances, such as if there has been no transaction for at least 12 months. The federal law creates a floor for regulation and leaves room for state regulation on redeeming gift cards for cash and unclaimed property provisions.

Gift Cards are a common gift these days. However, when you give or receive a gift card, you do want the balance to disappear because the issuer is deducting fees from the balance. Previously, gift card recipients had the painful experience of having their gift card balances slowly drained even though the cards had been in their wallets ready for use.

Gift card issuers would also charge service and inactivity fees on gift cards which weren’t used within a specific period of time. In some cases, the gift cards might be canceled. Fortunately, the Federal Reserve enacted rules to prevent this deception from continuing.

Expiration and Fees

The Credit CARD Act of 2009, in part, required the Federal Reserve to come up with rules for gift cards to keep consumers safe and from losing their gift card balance. After they received feedback from the public they issue the following rules:

• Gift cards can only expire five years after the date the card was purchased or the date money was last loaded onto the card. If the card and the underlying money expire at different times, the card issuer should make it known which date applies. You should not be charged a fee to replace your card if it expires before the underlying funds expire (less than five years).
• Issuers can only charge an inactivity fee on a gift card if the card hasn’t been used in one year. Only one service charge* or inactivity fee can be charged per calendar month.

• Lastly, consumers must be made aware of all gift card fees. The expiration and fee information needs to be displayed on the card and the cashier selling the card should explain the disclosures before selling the card.
• However, service fees may include fees for certain transactions like a balance inquiry; balance reload fee, or ATM withdrawal fee.

Some Exclusions

These rules apply to retail gift cards and Visa, MasterCard, American Express, and Discover gift cards. It does not include reloadable phone cards, cards given instead of an admission ticket, business gift cards, or gift cards purchased for business use.

Don’t Lose Your Funds

The easiest way to keep your gift card funds is to use your gift card, at least once a year is ideal. Keep your cards together so you’re constantly reminded which you may need to use. You can sell or trade gift cards you don’t think you’ll use on a site like CardPool.com. Make sure you confirm the balance before selling your gift card.

State Rules

The Federal Reserve says that some states already have rules that limit fees on gift cards and restrictions on gift card expiry. However, most of these laws only allow to store-branded gift cards and not those bank gift cards like those from American Express and Visa. The state law is effective when it provides greater protection than the Federal law.

As you are aware, gift cards are a popular and convenient way to give someone a gift, especially when you know know what they want. Gift cards are also a popular method for scammers to steal money from people. This is because gift cards are like cash: if you buy a gift card and someone uses it, you probably cannot get your money back. Gift cards are for gifts, not payments. Anyone who demands payment by gift card is always a scammer.

Thank you to ftc.gov for the following information

Many different kinds of imposters ask you to pay with gift cards. Someone might call you and claim to be from the IRS, collecting back taxes or fines. The caller might say he’s from tech support, asking for money to fix your computer. The caller might even say she’s a family member with an emergency and needs money right now.

But they all have in common an urgent need for you to send money right away. Imposters will sometimes ask you to wire money to them but, increasingly, they tell you to go put money on a gift card. Here’s what happens: the caller will often tell you to go buy a popular gift card, frequently, iTunes, Google Play, or Amazon. The caller will tell you to get the card at a particular store near you – often Walmart, Target, Walgreens, or CVS. They may even have you buy several cards at several stores. Sometimes, the caller will stay on the phone with you while you go to the store. Once you buy the card, the caller then will demand the gift card number and PIN on the back of the card. Those numbers let them immediately get the money you loaded onto the card. And once they’ve done that, the scammers and your money are gone, usually without a trace.

Other kinds of scammers, some of them also imposters, who might demand payment by gift card include:

• callers pretending to be from a utility company, telling you to pay your bill by gift card or they’ll cut off your power or water
• sellers on online auction sites who ask for gift cards to “buy” big items like cars, motorcycles, boats, RVs, tractors and electronics
• someone posing as a servicemember to get your sympathy, saying he has to sell something quickly before deployment and needs you to pay by gift card
• callers who say you’ve won a so-called prize, for a sweepstakes you probably never entered – but first, you have to use a gift card to pay fees or other charges
• someone buying something from you, probably online, who sends a check for more than the purchase price – and asks you to give them the difference on a gift card. (That check, by the way, will turn out to be fake.)

These are all scams. In fact, if anyone tells you to pay by gift card, or by wiring money – for any reason – that’s a sure sign of a scam. Every time.

What if you paid a scammer with a gift card?

If you paid a scammer with a gift card, tell the company that issued the card right away. When you contact the company, tell them the gift card was used in a scam. Ask them if they can refund your money. If you act quickly enough, the company might be able to get your money back. Also, tell the store where you bought the gift card as soon as possible. 

Here is a list of cards that scammers often use – with information to help report a scam. If the card you used is not on this list, you might find the gift card company’s contact information on the card itself, or you might need to do some research online. The FTC will update this list as new information becomes available. Report Gift Cards Used in a Scam Gift cards are for gifts, NOT for payments. Anyone who tells you to pay with a gift card is a scammer. Report gift cards used in a scam to the companies that issued the gift cards. Then, report it to the FTC at ftc.gov/complaint.SharePlay Video

Report Scams

Amazon

• Call 1 (888) 280-4331
• Learn about about Amazon gift card scams here.

Google Play

• Call 1 (855) 466-4438
• Report gift card scams online here.
• Learn about Google Play gift card scams here.

iTunes

• Call 1 (800) 275-2273 then press “6” for other, then say “operator” to be connected to a live representative.
• Learn about iTunes gift card scams and how to report them here.

Steam

• If you have a Steam account, you can report gift card scams online here.
• Learn about Steam gift card scams here.

MoneyPak

• Call 1 (866) 795-7969
• Report a MoneyPak card scam online here.

Don’t see your card on this list? Search online for how to reach that card issuer. Is there no contact information available? Is the card issuer reluctant to help? And did you lose money to a scammer? Tell your fraud story to the FTC.

• Tell the Federal Trade Commission about any type of scam or fraud you detect at ftc.gov/complaint, or call toll-free: 1-877-FTC-HELP.
• Report it to your state Attorney General (for a list of state offices, visit naag.org).

Giving and receiving gift cards as gifts

If you get or give a gift card, here are some steps to follow:

• Buy gift cards from sources you know and trust. Avoid buying gift cards from online auction sites, because the cards may be counterfeit or stolen.
• Inspect a gift card before you buy it. Check that none of the protective stickers have been removed. Make sure that the codes on the back of the card haven’t been scratched off to show the PIN number. Report any damaged cards to the store selling the cards.
• Keep the receipt with the gift card. Whether you’re giving or getting, try to keep the original purchase receipt, or the card’s ID number, with the gift card.
• Read the terms and conditions of the gift card. Is there an expiration date? Are there fees to use the card, or for shipping and handling? Will fees be taken out every time you use the card, or after it sits unused for some period of time?
• Use the card as soon as you can. It’s not unusual to misplace gift cards or forget you have them. Using them early will help you get the full value.
• Treat gift cards like cash. If your card is lost or stolen, report it to the card’s issuer immediately. You might not get back the money left on the card – or you might get some, perhaps for a fee. You might need to show the receipt and the ID number on the card. Most issuers have toll-free telephone numbers you can call to report a lost or stolen card – find it on the card or online.

Gift Card Future

Source: sociable.co, Sam Brake Guia

Gift cards provide gift givers an excellent opportunity to give something special with little risk. The thing is money and effort on a specific present might end up sitting in the receivers cupboard collecting dust until the next garage sale. And for recipients of gift cards, it is an excellent opportunity to buy something we really want or need. Thank you! to the care and appreciation of their loved one.

However, gift cards have not always existed in the form that we know them as now, and thanks to evolving technology and trends, their days of sitting in our wallets before being handed over to a cashier are numbered. The conventional processes of exchanging physical cash for a physical gift card has transformed into virtual cash being exchanged for a virtual gift card. For example, Coinbase recently announced that is teaming up with WeGift to allow customers in Europe and Australia to convert their cryptocurrency into e-gift cards.

To get a better understanding of the modern world of gift cards and what the future holds, we spoke with Shaul Weisband, Co-Founder, and CMO of Jifiti, a startup redefining retail experiences with unparalleled data & technology consumer financing, eGifting, gift cards and gift registry solutions.

Weisband explains that “Gift cards went from paper certificates (started by Neiman Marcus and Blockbuster, but was destroyed by fraud when color printers became widespread), to plastic to digital. As of 2018, retail gift cards has grown to a $160B market annually in the US.  The explosion in gift card growth is due to the challenges in gifting – knowing what a person wants, product details such as size/color/style, and knowing a shipping address. These barriers made gift cards the most convenient and easy gift. Gift cards have also become the most requested gift during the holiday season – due to the flexibility they offer and recipients not needing to get stuck with something they don’t want or need to return. Our surveys and focus groups have shown that while 86% of consumers prefer to send a real and thoughtful gift, they still prefer to receive a gift card.”

And Weisband has high hopes for the future of gift cards stating “We expect to see the future of gift cards in two verticals – Firstly, making them more personal and thoughtful. An example of this is the product-based e-gift cards that Jifiti launched with Nike. If until now digital gift cards were ‘amount-based’ and basically said ‘I love you $50, here is a 16 digit number to buy something’, the Nike product-based gift card functionality allows shoppers to transform any product into a customized e-gift card and send it instantly via email. That way the sender and recipient still have the flexibility of a digital gift card, but it’s all about the product that the sender thought the recipient would like to receive

Secondly, utilizing gift card systems for other use cases. A good example is gift registry – retailers like IKEA and Nebraska Furniture Mart have their entire gift registry platform based on a gift card system. Gifts purchased on the registry can be applied to a digital gift card for the registrants to redeem at their own convenience, this concept is catching on.

The fact is, the gift card is far from dead. As this well-established gift idea moves into the future with modern technology, it is likely to evolve into a new paradigm, with recipients ready to use them online compared to sitting a wallet until it is physically used or expires (in five years).