Square launches eGift Cards in the UK ahead of festive rush
Today, Square has launched eGift Cards in the UK to help the nation’s small businesses to drive revenue during the upcoming holiday shopping season.
Offering eGift Cards to customers is a great way for small businesses to generate revenue, drive more footfall into store, and bring in new customers. Square’s eGift Cards can be purchased in person or online from businesses using Square, and then redeemed in store.
It comes on the back of news that the UK high street posted its worst August performance for three years, making the upcoming Christmas shopping period more important than ever for retailers. (1)
Melinda Roylett, Head of Square in Europe, said: “We are delighted to be offering eGift Cards to our sellers in the UK in time to help them generate more sales during the most important trading period of the year.
“Square’s eGift Cards are a simple and affordable way for SMEs to offer gift cards - something typically only available for larger retailers. We look forward to helping businesses using Square to compete with larger competitors, bring money into the business, increase footfall, and widen their customer offering.”
When a customer purchases an eGift Card, the funds from sale are automatically deposited into the seller’s Square account, just like other sales. Sellers pay Square’s simple, flat processing rates of 1.75% when they sell an eGift Card in person, and a 2.5% fee when sold online, the same as any other sales. There is no fee when the card is redeemed. The eGift Cards are delivered by email immediately or at a future date, and have no expiry date.
Square was designed to provide technology solutions that help small and medium sized business to thrive. The Square Reader has been available in the UK since March 2017, and pairs with the powerful Point of Sale app to allow sellers to accept credit and debit cards quickly, affordably and easily. eGift Cards is the latest in a line of UK product launches from Square designed to help owners to start, run and grow their business.
Earlier this year Square launched the stylish Stand for countertop businesses, as well as integrations for online payments and partner apps. Square also provides Invoices and Virtual Terminal products allow businesses to take payments over the phone or by email, and the Cash App for consumers.
With Square, sellers get their money deposited into their bank account the next working day as standard, and can pay an additional 1% for the Instant Deposit feature to get their money right away. With Square, you only pay when you use it - there are no monthly fees or long-term contracts. For more information or to get started with eGift Cards, sellers can head to https://squareup.com/gb/gift-cards.
(1) The Guardian / BDO