By technical definition, a gift voucher or a gift card is a prepaid (stored value) card that is issued by a business to be used for the purchase of its products within a specific store and time. It is used as an alternative to cash. The e-gift card system or e-gift voucher system is thus the engine that makes it possible for a business to automate the process of creating, optimizing and distributing/selling gift cards or vouchers to customers.
There is a good chance that at some point in time, you have used a physical gift voucher or card when shopping. The e-voucher is the digital version of the traditional gift voucher or card. While the traditional paper vouchers are still popular, the Valassis’ Coupon Intelligence Report shows that the digital vouchers are more popular and used extensively. More people prefer mobile vouchers than the physical paper or card vouchers. Between 2016 and 2017 alone, preference for mobile vouchers increased by a whopping 33%.
With increasing demand for e-gift vouchers today, businesses will be at a great loss not to consider their use. The drawback, however, is that you cannot just generate the e-gift vouchers randomly. There are several important things you will have to consider like:
- Voucher security
- Expiration date
- Tracking of vouchers
- Determining the denomination values of the vouchers etc.
A good thing about using an e-gift voucher management system is that you will be able to manage all the above and more seamlessly. An efficient system will typically offer you the following functions and features: