New interface will speed up gift card transactions
A new interface being developed in the UK will allow retailers to accept and issue gift cards quickly and easily using their own POS systems and processing them in the same way as normal card transactions.
The Logic Group is working with Open Payment Technologies (OPT) to develop an interface between its core Solve/SE product and OPT's Opticard gift card service. The new interface will be in place well before the Christmas spending period.
The development will make it easier for large retailers to add eGift services by minimising the upheaval of installing new standalone technology; they will now be able to accept these new cards using their existing tills and software, reducing implementation timescales by months. Electronic gift cards will be processed in exactly the same way as normal card transactions without the need for new systems. Cardholders will be able to activate gift cards, top up funds and carry out balance enquiries in-store.
Tight controls The system allows tight controls over the use and spending of the cards with real-time triggers to spot any irregularities, as well as daily reporting on all transactions, allowing retailers to see how the cards are being used. Retailers don't have to give cash back: since the balance is always kept on the gift card, no cash needs to be refunded for unspent amounts.