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25/11/2009 -
Gift card payment processing has been touted as retailers' saving grace this holiday season, but many consumers are concerned about the fees that come along with many gift cards and are therefore discouraged from would-be gift card purchases.In response to these concerns, American Express Canada has announced the launch of a new universal or general purpose gift card that comes with no fees after purchase, the only gift card to do so in Canada.
"We wanted customers to feel good about a product that has absolutely no fees of any kind for the recipient, and the funds never expire," said Howard Grosfield, vice president of American Express Canada. "This year, American Express is happy to help Canadians wrap up their holiday shopping early with our ground-breaking, no-fee-after-purchase gift cards."
The gift cards will be available for purchase at more than 1,000 Shoppers Drug Mart stores nationally, in denominations of $50, $100 and $200.
Experts say that gift card payment processing is a wise move for merchants, as the acceptance of both general purpose cards and store-brand cards can help increase sales and boost customer acquisition.
