New gift card laws come into effect in Australia on November 1, 2019. The fundamental changes introduced in the new laws are:
- a minimum three year expiry period for gift cards is required;
- gift cards must display expiry dates; and
- most post purchase fees on gift cards are banned.
The POS software from Tower Systems will help small business retailers comply with this legislation. It will do so in a worry free, safe and red tape free way for indie retailers.
Gift cards (physical or electronic) are easy with our software. Retailers can offer them with surety and speed, enabling shoppers to load cash onto a card so that it can be given as a gift.
Where gift cards are sued as a marketing tool, the legislation is different. The three year requirement in the legislation does not apply to gift cards that are:
- able to be reloaded or topped up
- for a good or service available for a limited time where the card or voucher expires at the end of that period (e.g. entry to a concert or museum exhibition)
- supplied to a purchaser of goods or services as part of a temporary marketing promotion (e.g. a wine voucher valid for one month that is mailed to a consumer as a free bonus with a purchased item and was not part of the purchase offer)
- donated free of charge for promotional purposes (e.g. a local shopping centre has a one-day marketing promotion where each visitor to the centre on that day is handed a $20 gift card that is valid for use at any store in the centre for that day only)
- sold for a particular good or service at a genuine discount (e.g. $50 card for salon service valued at $100)
- supplied as part of an employee rewards program
- given as a bonus in connection with a purchase of a good or service for use in the same business (customer loyalty programs)
- second-hand gift cards.
- part of a temporary marketing promotion (e.g. customers buy a certain product from Business A, which provides a $50 voucher to use at Business B).
Tower Systems serves small businesses in the requirements of the legislation, efficiently and in a whole of business way.
Our customers with our latest software will be fine come November 1, 2019. Gift cards through the POS software will be safe, easy and business building.