How will this affect Redcat gift cards and what do you need to do?
Did you know that newly introduced NSW legislation might affect the way you sell online and physical gift cards at your store? And that even if you aren't operating within NSW, these new laws could affect you? - And now SA are following suit!
We want to take the time to make you aware of a couple of new regulation changes that might affect the way you run your business and utilize Redcat gift cards. These changes are already underway in NSW and will shortly be introduced in a similar manner in SA.
- The NSW government has introduced a mandatory minimum expiry period of 3 years for all gift cards and gift vouchers sold to NSW consumers . This means that even if you are operating outside of NSW, if you sell a gift card online or otherwise to a customer who is living in NSW you MUST offer a minimum 3 year expiry period.
- The NSW government has also introduced a ban on post-purchase administration fees for gift card purchases.
Redcat will now presume a 3 year period as the standard gift card expiry period - unless we are otherwise instructed by you.
Redcat will continue not to charge post-purchase administration fees.
These changes are effective from the 31st of March on-wards, which means all gift cards (unless sold to a resident that you are sure is NOT from NSW) must have a lifetime of at least 3 years from now on.
A transition period running from the 31st March to the 30th September will allow you to "run-down" your existing pre-printed gift card/gift voucher stock.
And take note! - Businesses MUST make an effort to inform customers that gift card expiry changes are taking place by informing customers of these changes, marking gift cards/vouchers to show the new expiry rules, updating company websites, adding notes to receipts etc.
For more information on Redcat gift cards click here:
https://www.redcat.com.au/polygon-loyalty-cloud
Or for more information on these law changes you can visit the links below:
https://goo.gl/9q71mw
http://www.fairtrading.nsw.gov.au/
Happy trading from the team at Redcat!
Redcat is a specialty franchise hospitality POS provider, with multiple options, including accounting, stock, payroll, loyalty, integrated online ordering, digital displays, and smartphone apps. To find out more about Redcat, visit www.redcat.com.au or say hello@redcat.com.au.
