Evaluation Criteria for Gift & Loyalty Cards
The independent authority on credit card processors, topcreditcardprocessors.com, is a research firm dedicated to identifying and ranking the best credit card processors in the United States. Through an in-depth vendor analysis, client evaluation, and the use of our proprietary evaluation criteria, we have put together a list of the top gift and loyalty card services. Our analysis delves into a vendor’s business practices and compares them against industry standards to ensure that the service is quality. Often times we connect directly with the clients of a vendor and ask about their overall experience.
There are five key areas which we have identified as significant for gift and loyalty card services:
The tracking methods offered by the gift card service are important to ensure that vendors are able to track the habits of their customers and the types of purchases which they make. Our evaluators spend time understanding how the service is able to help businesses provide adequate programs to create repeat business and to be able to track their customers more effectively.
Customer support processes for gift card services are crucial. If the system goes down or something isn’t working right, the speed at which the service provider responds to enquiries is critical to solving the problem and getting systems back up and running. Our evaluators check the various communication channels which service providers use to interact with their customers and how fast they are able to react.
The amount of work and the amount of time required for implementation is also examined. The solution should be simple and easy to implement while providing the customer with the means to be able to adequately track the gift card rewards. The amount of help provided by the service provider to implement gift cards into the current system is also examined.
The various methods for reporting gifts, sales, and the habits of customers is also examined. The amount of data provided and the frequency of reports is examined to figure out whether customers are being provided information in a timely manner as they need it to make informed decisions. The amount of time lapse between information being received and provided to the customer is also examined.
The ability for the gift card processors to be able to provide a quality design is also examined. Many services offer the ability to produce a custom gift card design for their customers to maximize their use of the card. In addition, any additional services such as customization or alternative designs are also evaluated.
- How many transactions do you generally process in a day?
- How does the processor help you optimise your payment acceptance?
- What methods of payment can the processor accept in bulk?
- How often does the processor deposit into your bank account?
- How do you handle purchases with the micropayments? How does the service benefit your company directly?
- Did the service help you increase your profits and consumer spending?
- What types of equipment or training were required?
- Did you offer your customers rewards? If so, what services were put in place to assist you?
- How was tracking and reporting handled by the processor?
- Have you noticed an increase in repeat customers since introducing your gift cards?