As consumers spend less and merchants struggle, new variations on old standbys like gift cards and loyalty programs are attracting renewed interest.“We’re seeing a huge push by merchants to implement rewards and loyalty programs,” reports Christian Murray, director of business development for Global eTelecom, based in Destin, Florida. With business slow, merchants are doing everything they can to encourage customers to come back. “Merchants are looking for help, and this creates a big opportunity for ISOs to upsell loyalty programs,” he says. “It won’t make them a ton of money, but it will be great for retention. It’s one of the few opportunities out there that can make a big impact without a big price tag.”

Merchants like gift cards because they save them time and money, streamline operations, provide security, and increase sales, Murray notes. And with the economy faltering, awareness is rising among merchants that gift cards can make operations more efficient and improve cash flow, he adds.

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