QR (or Quick Response) codes are those little squares appearing more and more frequently on consumer products all over the country, they allow smartphone users to collect data about the product they appear on, but they also have a potential connection to gift cards. One application of QR codes on Dole Salad kits sold at certain Price Chopper locations, encouraged loyal customers who received a post card (with the QR code) to scan it for a chance to win a $500 Price Chopper gift card. The potential in the growing mobile gift card market to also tie the growing use of consumer product QR codes creates yet another innovative way mobile gift card technology is finding its consumers in their natural habitat. Where would you like to see potential to connect QR codes to mobile gift cards? Leave us a comment! And for more info on the Dole Salad promotion see this article.
45 Percent of active mobile phone uses have indicated that they would be interested in using their mobile phones to utilize the value of gift cards, as well as pay for goods and services. This statistic is especially interesting because in the same survey 73 percent of respondents also indicated they had significant concerns regarding privacy and identity theft in using mobile technology. This shows that mobile technology is going to become more and more important to the gift card industry, and the benefits are clearly outweighing the risks, even with the technology being so new. For more information on the growing mobile market for gift cards check out this Iewy News article
Wellesley, MA – February 22, 2012 –Today GiftCard Partners (GCP) announced its highest rate of growth in their company history. Although GCP made several advancements in their loyalty and fundraising channels and several of their employee incentives categories; they largely attribute their employee and revenue growth to their recognition as a leader in health and wellness program incentives. GCP’s CVS/pharmacy, CVS Select®, SUBWAY®, and Nutrisystem® gift cards, combined with their research and editorials on corporate and institutional health and wellness, yielded unprecedented sales results in 2011 and the start of 2012. GCP understood early on, the role that health and wellness programs would play in the current political landscape, in America’s corporations, small to medium sized businesses, and healthcare institutions like Medicaid and Medicare. “The constant rise of healthcare costs, health benefits costs to companies, increasing employee benefits contributions, combined with recent healthcare reforms, have catapulted health and wellness programs to a top priority for 2012,” says Deborah Merkin, GCP’s CEO. “We are pleased to see a rise in interest amongst HR professionals and the publications they count on. They are seeking our research, editorials and blogs on how our customers and constituents are setting up and benefiting from their health and wellness programs.” This month, Voluntary Benefits Magazine published “Start a Health and Wellness Program in 2012 - 5 Compelling Reasons Why to Start Now”, an editorial that highlights GCP’s innovation in the health and wellness arena and addresses employers’ chief concerns, like: what to expect from their program, how to overcome participation obstacles, how to measure results, and key concepts on “what most employers don’t get right”. “We are very proud of our advancements in the health and wellness incentives marketplace and we continue to forge new paths, like with Medicare and Medicaid programs, to incentivize patients to maintain routine well-visits, reach wellness milestones, and live an overall healthier lifestyle,” says Merkin, “and we look forward to our customers creating a healthier 2012 and beyond.”
The predictions around mobile payment are pretty robust. eMarketer states that mobile transactions will total nearly $1 trillion by 2014. Yankee Group predicts the worldwide transaction value of mobile payments will move from $162 billion last year to $984 billion by 2014. This includes transactions from mobile banking, international & domestic remittances, contactless cards, mobile coupons and near-field communications. eCerts & mobile gift cards is a sliver of this transactions pie, but the trend towards paying with mobile will surely make gift cards more accessible and it will open up a new delivery method for the worldwide corporations and remote companies involved in B2B gift cards. It will become even easier to reward that sales person who primarily works overseas and it will be even easier for them to locate their gift card retailer on their device…and to then redeem their gift cards with their devices. Read the full eMarketer article here. www.giftcardpartners.com
The Mercator Group referenced in our last post presented at the PrePaid Congress and posed an interesting question. We don't have the answer yet because the survey is ongoing but what do you think the answers could be? In 2015 (five years) what percentage split of the total gift card market for prepaid closed loop gift cards will be? Plastic ___% Virtual ___% Mobile Wallet ____% Leave comments and let us know what you think.