Square eGift Cards
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Square eGift Cards
1–10 of 33 posts
Re: Square eGift Cards
#2I have thought about purchasing ecards at my local stores, but how will I know if they will still be around long enough for me to use it?
Re: Square eGift Cards
#3Thanks so much for creating this! I’m going to buy one from every single one in my ZIP Code. Hopefully if enough people use this, it will help all of these super small businesses get through this.
Re: Square eGift Cards
#4I have thought about purchasing ecards at my local stores, but how will I know if they will still be around long enough for me to use it?
You don't! Its a best effort contribution to help improve their probability of surviving this crisis.
*Exceptions: Large Chain Restaurants
Re: Square eGift Cards
#5It really doesn't make it clear how this works, and I can't find a consumer facing help article. Does this just email me a code or what?
Re: Square eGift Cards
#6It really doesn't make it clear how this works, and I can't find a consumer facing help article. Does this just email me a code or what?
Yes, I just ordered a bunch of them. Got several emails.
Re: Square eGift Cards
#7I have thought about purchasing ecards at my local stores, but how will I know if they will still be around long enough for me to use it?
> how will I know if they will still be around long enough for me to use it?
Treat it like a donation. I know not all can afford to do this, but many of us can.
Re: Square eGift Cards
#8Can someone help me understand something regarding gift cards as a way to support businesses during this shutdown?
Gift cards are basically outstanding liabilities, right? If they're not accounted for correctly, when large amounts of people are able to redeem them again, they're left with no money to pay those expenses in the future. Obviously, things aren't as bad if ratio of gift cards to cash spending is somewhat reasonable when the business reopens.
Seems unless you can commit people to not redeeming the cards, you're essentially time-delaying the reduction in revenue.
Also, it's my understanding that gift cards are pretty difficult to account for normally (requiring looking at historical redemption data to prevent liabilities from growing indefinitely on the balance sheet). Some of these places are going to be accepting gift cards for the first time in their history. Is there any room here for a guide to help these places navigate the accounting of them?
Re: Square eGift Cards
#9Can someone help me understand something regarding gift cards as a way to support businesses during this shutdown? Gift cards are basically outstanding liabilities, right? If they're not accounted for correctly, when large amounts of people are able to redeem them again, they're left with no money to pay those expenses in the future. Obviously, things aren't as bad if ratio of gift cards to cash spending is somewhat…
In theory, redemption would be distributed over time vs. the abruptness of our current situation. And, as you mentioned, there will be other forms of payment. I would expect most people would by the gift card for less than what they expect to spend.
Re: Square eGift Cards
#10downvote. Only USA? What, Square? You don't have any retailers outside of the States?