How to Get Started With Gift Card Transact

Gift cards can add value to your business and give your customers a variety of choices. But there are some things you should know before getting started.

The Gift Card Transact API allows you to process gift card transactions through your merchant processor. Each transaction 문화상품권매입 provides a set of information to help you perform corresponding operations on the gift card account, maintained by your gift card provider.

Choosing a Payment Processor

The right payment processor can make or break your gift card program. Look for one that offers a seamless, secure payment experience and provides the flexibility to optimize your business operations. Consider factors like transaction fees, backend efficiency, and fraud protection.

A payment processor is the company that authorizes and processes credit cards, debit cards, ACH payments and other forms of electronic money transfer for a business. They communicate with the customer’s bank (the issuing bank) and the card network to verify the payment details, receive an authorization or decline, and then coordinate the transfer of funds from the customer’s account to the business’s merchant account within a few days.

A good payment processor will offer a user-friendly platform that allows you to monitor transactions, access reports and gain insight into sales data. They will also be PCI compliant to ensure transaction security and offer responsive customer support. Also, look for a provider that integrates smoothly with your POS system or ecommerce platform for easy setup.

Getting Started

Gift cards are prepayments for future goods or services, eliminating financial uncertainties such as defaults and chargebacks. Additionally, many businesses find that establishing a robust gift card program is a great way to attract new customers.

Merchants can easily process prepaid transactions using a terminal, POS system, web-based virtual terminal or mobile app. A customer selects a card denomination amount on the device, presents the card to the merchant and receives a receipt showing the remaining balance.

Transaction API responses for gift cards include a special “UMremainingBalance” field to indicate the actual card balance after the transaction is processed. The other field, which is optional for developers, is the card number. Various types of gift card transactions are supported including reloading, merchandise returns, cash back and deactivate. See the Transaction API documentation for details. The ability to register a gift card can also make it easier for consumers to manage the balance and track their activity.

Getting Setup

The best way to get started is to contact your processor and let them know that you are looking into offering gift cards. They may be able to suggest changes to your setup to help you manage the cards more effectively.

To activate a card, either your webstore or your Order Management System initiates the ‘giftcard:fundandactivate’ call with a specified gift card number (for physical cards) or URL link (for virtual cards). A response will be sent back with the status and a card number/PIN. To add value to a card, the transactionapi:giftcard:addvalue call is used. This will increase the available balance on the account.

Making a payment with a gift card is done just like any other tender. To view gift card activity, you can search for transactions by card number or scroll down to the reports section of your online Square Dashboard. It is important to note that refunds on a gift card will not show up until the merchant completes their refund process.

Payment Options

Every business has unique needs, and fortunately there are multiple gift card processing options that can fit yours. You can choose between open-loop branded cards or restricted card programs that allow you to limit where the card is used (similar to prepaid debit cards). These are great solutions for companies looking to avoid changing their payments setup while still offering an exclusive, brandable gift card program.

Gift cards also offer up front revenue for businesses compared to other payment methods that require the customer to pay after the product or service has been delivered. That makes them a great choice for cash-based retailers, or for businesses with unpredictable or cyclical revenue patterns.

Online, gift card transactions are processed much like a credit or debit transaction. Customers enter the gift card number into the payment field at checkout, and the merchant verifies the card details and Card Verification Number to complete the sale. You can even enable split tender transactions where a gift card covers part of the total cost, but you need to use another form of payment for the remaining amount.