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Gift Card

Banks provide their customers with gift cards that either they or their loved ones could use. These cards come with various add-on deals too.

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A gift card is a gift stored value money card which can be gifted to customer’s loved ones or can be used by him or her which are usually given by the retailers as an alternative to cash for the purchases at malls or various shopping and business outlets.

Gift cards are being provided by various stores across the world when the customers go there for the shopping purpose so as to make sure that they become a regular customer of their outlet and can purchase from any of their branches without causing any commotion to them as they need not require cash in hand as the card provides them with the medium of purchasing various products.

Gift Cards are provided by many banks as well, where Kotak Mahindra is one of them giving its customers various add-on deals along with the card.

Benefits of Gift Card

A gift card is the best way to pamper your loved ones for any occasion where the customer can provide them with various deals which they can enjoy while shopping.

If we talk about Kotak’s Gift Card, then it is very easy for the customers to purchase it from any Kotak Bank branch with a three-year validity and no prior banking relationship. The minimum loading amount in the card is Rs.5000.00 with the maximum being Rs. 50,000.

Overall Benefits of the Gift Cards are as follows:

  • Gift cards help in increasing the sales of the shopping outlets from where it is purchased so that the customers use the card to avail certain benefits provided to them while shopping.
  • The companies which provide the customers with the gift cards, make sure that they build a strong relationship with their regular as well as new customers by providing them with the benefits generated within the card.
  • If a new store or a company has been opened up, then providing the gift cards to their customers will help them in generating the overall sales of the company by attracting more new customers to come up and avail their services.
  • These cards also help in reducing the fraud activities, as the money present within the card can be used only in the stores that provide their customers with this gift card and cannot be deducted at any other store with the complete record of money in the card available to its store manager.

How to Operate the Gift Card?

A gift card can be operated in a simple way by following certain steps:

  1. A gift card has a specific code or a number as its resemblance and is scanned by the bar code reader machine which is present in both shopping stores and business outlets.
  2. Some gift cards also have a pin which is needed to be keyed in at the time of swipe in the electronic credit card machine so that your money can be deducted from it while shopping.
  3. The cards can be operated online by just visiting the website of the company or the bank from which you have availed this card and then just add money to it.
  4. The money once added can be used until and unless it becomes zero, so for that, you need to be sure every time with the amount being deducted from the card by making yourself aware of the money which is still present in the card.
  5. There can be Email and Mobile gift cards as well, so make sure that you register your working email id and provide a mobile number so as to receive a message from the online shopping store as to how much money has been deducted from your card.

Things to Consider for Gift Cards

  • Gift cards give an opportunity to the customers to buy anything they want from the store which has provided them with this card.
  • The cost of gift cards is much less than the cost of mailing packages for the gifts that the customer might purchase for their loved ones.
  • The person who receives the card is more than happy as he or she can buy anything from the store without any kind of specific consideration, as the gift cards provide them with an opportunity to buy whatever they like at the shopping or business store.

So, if the customers wish to give something special to their loved ones, then they should definitely purchase the gift card which is value for money loaded with various deals to enjoy from.

 

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