SVS UK, Ltd. Offers Creative Application for Prepaid Gift Cards – Merchandise Returns
As retailers start preparing for the pre-Christmas rush, a leading gift card provider is reminding stores to think about consumer demand immediately after Christmas too. This post-holiday season is the time when shoppers often want to return and exchange gifts and, according to Ceridian Stored Value Solutions (SVS) UK, Ltd., is an opportunity for prepaid gift cards and plastic Merchandise Return or "Refund" Cards to come into their own. Utilising gift cards for merchandise returns is fast becoming the preferred returns process because it allows retailers to keep a greater percentage of their revenue from in-store sales, and makes the return or exchange process more unique and special for the consumer – by issuing an in-store gift card.
The Merchandise Return Card allows retailers to transfer the value of returned items onto their own [closed loop] gift card for the consumer to use with future purchases. In addition to retaining more of the revenue generated by the original sale, and encouraging future consumer visits, this application also benefits merchants with:
- Minimal or no additional investment for existing SVS clients already processing on our platform
- Increased consumer spending similar to gift cards where remaining balances create additional visits
- Reduced refund abuse by issuing a non-cash equivalent plastic card
- Accurate tracking of merchandise return card issuance and usage
"In the past, retailers have tended to exchange returned merchandise for cash, store credit or vouchers," said Steve Bradbery, Director, Customer Support SVS UK, Ltd. "However, SVS recognises our clients' need for a more secure and operationally efficient merchandise return process, which additionally drives financial benefits - the Merchandise Return Card. The impression made by a Merchandise Return Card creates a positive and memorable experience for customers, retains funds within the merchant and drives higher customer spend on redemption."
SVS UK, Ltd. is the leading single-source provider of prepaid and stored value solutions, delivering a fully dedicated gift card and promotional platform. Nearly twenty years of experience has helped SVS evolve into the largest supplier of prepaid products to retailers in the UK and Europe. Our full product suite features gift cards, promotional cards, and a robust loyalty platform. SVS partners with clients around the world to offer solutions that effectively drive the behaviour that leads to business success. SVS manages more than five hundred million card products and processes over one billion transactions from 40+ countries and 26 currencies worldwide every year. To learn more visit:www.storedvalue.com