Digital prepaid card supplier Gyft, a division of First Data Corp., announced today that is has launched a bulk gift card program for companies that want to use gift cards for employee rewards and incentives.
Gyft is introducing a new bulk gift card purchasing program that helps businesses better reward and incentivize their employees. The streamlined program allows businesses to purchase digital gift cards in bulk and eliminates problems such as wasted time purchasing individual gift cards, impossible tracking, lost cards, shipping costs, limited availability in gift card retailer choices, and the general inefficiency of older gift card programs.
The tool will allow managers to upload a spreadsheet of all the employees they want to give gifts to and customize a message that goes with it. The customization and digital delivery can be an advantage for employees because they no longer need to manage plastic card stock and can tune the reward to the occasion. This way it is not just a generic piece of plastic in the eyes of the recipient.
Gift cards still need to compete with other kinds of rewards in the incentives space, but the ease of digital delivery may help them win over clients with convenience and customization.
Overview by Ben Jackson, Director, Prepaid Advisory Service at Mercator Advisory Group
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