Carlin, Mary L. (2007). Self-Service Success. Hospitality Technology Magazine. 10/28/07.
http://www.htmagazine.com/HT/archive/1007/1007_03.html
Carlin, Mary L. (2007). Self-Service Success. Hospitality Technology Magazine. 10/28/07.
http://www.htmagazine.com/HT/archive/1007/1007_03.html
Kasavana, Michael L. (2007). Plastic Never Looked So Good. Hospitality Upgrade Magazine, 118-128. 10/14/2007.
http://www.hospitalityupgrade.com/_files/File_Articles/HUspr07_Kasavana_GiftCardTechnology.pdf
This article talked all about the use and technology of gift cards. The industry has increased sales in gift cards in the past couple years and is predicted that it will only continue growing. Most people claim to get at least one gift card a year. As some might say it is or can be looked to as impersonal many say they would rather receive a gift card as a gift. There are many ways the gift certificate has advanced from what it used to be. The magnetic stripe saves retailers and hospitality operations time and money. The old paper gift certificates required bookkeeping and manual authorization. Now gift cards are saved and redeemed by computers and can even be dealt with online. When a consumer receives a gift card they can check the balance online and also some stores allow you to purchase online. There are two card types, open looped and closed looped networks. The open looped are ones like MasterCard, Visa, and American Express. This means they can be used in many different locations. Closed looped are restricted to certain restaurants or stores only. Breakage is the key term used to explain the gift cards that are never redeemed. When a gift card is purchased it is not counted as revenue to the establishment but as a liability until the card is redeemed. The breakage funds are given to the gift card processor not the retailer. Next upspending is when someone buys more than the gift card amount causing them to have to pay the extra amount in cash. Technology is advancing with POS based on premise, ASP online, off premise at places like drug stores, and self service kiosk outside of restaurants or stores that can distribute cards even after the store is closed. Security to prevent gift card fraud/theft is also advancing with things like password protection and scratch off security codes on cards.