41–50 of 107 posts
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Gift cards from work always go in the trash, they are a hassle to remember you have one, tote it around or redeem it at a place I probably don't frequent enough.
If you're throwing them in the trash, why not give them out whenever you're expected to tip?
Earlier quoted context omitted.
Gift cards from work always go in the trash, they are a hassle to remember you have one, tote it around or redeem it at a place I probably don't frequent enough.
If you're throwing them in the trash, why not give them out whenever you're expected to tip?
https://www.giftcardgranny.com/blog/5-important-facts-about-...
I once had a gift card that had a management fee in the small print. By the time I remembered it the £10 had all been eaten by the 40p a month fee.
It's also a way for them to save on credit card processing fees by trading the fees of multiple (relatively) small drink purchases for one fee for the gift card purchase. An often overlooked innovation of iTunes was delayed billing, which converted multiple separate song transactions into one bundled transaction to save on credit card transaction fees.
>delayed billing, which converted multiple separate song transactions into one bundled transaction to save on credit card transaction fees. Uber and Lyft do it now. It ought to be illegal, or opt-in (with a discount to the customer). Delayed billing wreaks havoc on the majority of Americans who live paycheck to paycheck
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It does not wreck anymore havoc than lots of separate transactions pushing them deeper into debt.
Stuff like this reminds me of the bubble tech lives in. There are a lot of people who aren't on top of their finances at all. For them, a delayed transaction wreaks plenty of havoc because they're not keeping track of how much "ghost transactions" are affecting the account balance they see. Now you could argue it's on them for not being on top of their finances, but Uber makes a lot of money from these people. The la…
It's all a fairly pointless discussion because the simple solution is to suggest Uber, etc. just make this method of charging an optional feature that is easily toggled by their customers. Beyond that, it's an uninteresting discussion, and I don't care to hear people browbeat each other about how Uber is bad and wrong for rolling transactions into one because they didn't consider that their customers are mouthbreathing idiots whose entire financial world will come collapsing down on them if they can't get check their credit card balance for 100% accurate realtime information about their current financial state. Somehow if someone didn't think of this possibility, they are an inconsiderate jerk who "lives" in a "bubble."
I once had a gift card that had a management fee in the small print. By the time I remembered it the £10 had all been eaten by the 40p a month fee.
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That seems...sleazy.
Serious question: what should a business owner do? Track down every gift card buyer and refund their money?
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So how is it revenue? Sounds like a liability
Companies bet on something like 2-5% of "breakage". That is the main profit motive behind gift cards. There are various claims of using them as marketing and a system to refund people without letting them out of your loop, but the major reason anyone pays what they do to a certain company to sell gift cards (almost nobody does it themselves anymore) is to get that breakage profit. Gift cards are a subsidy from forget…
Our sales pitch to companies is also about treating gift cards as a marketing tool, mainly by giving away gift cards for certain purchases during sales. For example, IKEA once had a promotion where they would give you a ten dollar giftcard for every one hundred dollars of gift cards you bought. Unlike most companies pushing one of these promotions, they chose not to set an upper limit. The result was hilarious and predictable.