From boosting sales to building brand awareness, implementing a gift card program for your business has many perks. If you’re looking for new ways to drive profits, a gift card program may be for you. Whether you’re a bakery, clothing store, or beauty salon, a gift card program can be beneficial in many ways, especially during the upcoming holiday season.
Before you start your gift card program, be sure to familiarize yourself with the applicable federal regulations.
- The 2009 Credit Card Accountability Responsibility and Disclosure Act (CARD) sets standards and consumer protections for gift cards. Most importantly, the law prohibits gift cards from expiring within five years from the date of activation. It also limits inactivity fees, except in some circumstances.
- Gift card laws can vary by state. Check the National Conference of State Legislature’s website for any applicable gift card laws in your area. You can also reach out to a legal professional for more comprehensive advice on gift card laws.
Read more to learn about how to set up a gift card program, different options available, how to set them up, and tips to maximize your gift cards.