SumUp gift cards – How Does It Work?
Today, we present the gift cards feature offered by SumUp. This seemingly simple feature can truly transform your finances.
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SumUp is THE reference payment solution for small merchants. Read our complete SumUp review on the offer.
We explain everything:
- General Operation
- Selling vouchers on the SumUp app
- Accepting vouchers
- The significant impact of gift cards on your business
Benefits of Gift Cards for a Business
Building customer loyalty
Loyal customers attached to your brand will love the concept of gift cards. You can do this in 2 ways.
The credit or loyalty card
Offering a loyalty program is an extremely powerful marketing and financing tool.
The principle is as follows: for £100 of gift cards (purchased in advance), you then offer £10 of additional purchase.
You are offering a £10 discount. This will encourage customers to spend more than £100. It will also help build customer loyalty. Additionally, you will receive the sales money for the product sooner.
The gift card
Allowing to give gift cards to friends. If your customers love your products, they will be delighted to share this with their acquaintances.
This is great for your business. You get new customers and get paid upfront.
The SumUp Gift Card Solution
In both cases, the SumUp solution we describe today is very relevant. The only downside, we would have liked to be able to print physical cards which are more presentable as a gift.
Obtaining cash flow in advance through gift cards
If your customers are thrilled to get these vouchers, it’s especially your cash flow and your accountant who will thank you 🙂
All merchants know: Cash is King. Unsold stocks and the need for working capital give us cold sweats.
Vouchers allow you to cash in before selling the goods. A dream for your cash flow.
Starbucks has built its coffee empire on this mechanism. The company now has more deposits than some banks!
SumUp gives you the same powers as Starbucks!
Another reason to switch to gift cards is that some people will never use certain vouchers. This will be pure profit that will more than cover the setup fees of the system.
How to sell gift cards with the SumUp app?
Activate the feature on your SumUp space
You can only access this feature if you activated “Remote Payments” feature.
If so, the “Gift cards” menu then appears on your application. If not, contact support to activate the option.
Customize your SumUp gift cards
Before inviting your customers to subscribe to your cards you can customize them. To do this, press the gear wheel at the top right of the screen on the application.
Once in the Settings menu, you have 3 options
- Set custom amounts or not. If you do not set predefined amounts, then the customer will have to choose the amount themselves. We advise you to define 3 or 4 amounts and leave the amount option free.
- Define the discount you want to apply. This is particularly useful if the voucher is not a gift card but more a credit or loyalty card.
- Choose the design from different choices.
Selling your SumUp gift cards
Once the settings are in place, SumUp creates a unique link that you can share with your customers.
- Click on the “Vouchers” menu.
- Click on “Share Voucher Page” (at the bottom)
- You can share the link via email, SMS, WhatsApp, or directly on your website
How to consult and cash in my sold gift cards ?
Just go to the “gift cards” menu on your SumUp app to find all of them. If a customer presents their gift card, you will then need to go to this menu to debit their account.
What are the fees for gift cards?
They are the same as for all SumUp remote payments: 2.5%. A single commission and no hidden fees.
Conclusion
Gift cards can really bring a plus to your business. It will create a strong sense of community with your customers. We strongly advise you to try it.
The real challenge lies in distributing them to your customers.
If you have a website, then we simply advise you to put a link to the SumUp page. If you have a store, we suggest displaying a stand or printing cards with QR codes. These QR codes should link to your SumUp voucher page. This will help explain the process to customers.
If you already have a SumUp reader, we recommend you to test this new feature.
