14 Common Misconceptions About E-Gift Cards

In modern life, along with technological advances, virtual gift cards appear as the newest trend of e-gifting. Therefore, there are many existing arguments about digital gift voucher’s conceptions. Here are fourteen most frequent misunderstandings that lots of people have gotten.

1. Only a few shoppers use e-gift cards

Electronic gift vouchers have been introduced in the recent decade, but they have become widespread and favorable because of their superior characteristics compared with traditional gift vouchers. As revealed by market research, the rate of e-gifting has increased approximately 200% annually and generates millions dollars each year. As research data, below is a chart showing some most popular reasons why people prefer virtual cards

2. E-gift cards are dull

Some people might consider that digital gift vouchers are boring because of the limit in template designs or card materials. However, thanks to Gift Card extensions equipped in online stores, virtual gift certificates now can be designed and customized in all features. Apart from premade gorgeous card templates, shoppers can even upload favorite images, photos, videos or gif files to create their own gift vouchers. Hence, having unlimited choices of gift card samples, buyers can make it unique and personalized. That’s why both senders and receivers are more interested in digital vouchers.

3. Your grandma won’t prefer gift cards.

It can not be denied that the elderly have lower rates of technology adoption than others. However, this group is more digitally connected. The research carried by Pew research center (sep 29-nov 6, 2016) has shown that four-in-ten seniors now own smartphones. Additionally, social media using among this group has become an increasing trend. More strikingly, 45% of seniors who are over 65 were planning on giving digital gift cards within the next 3 months, according to National Retail Federation Gift Card Spending Survey November 13, 2014. Thus, if you want to give your grandparents something this holiday, virtual gift vouchers may be a good idea.

4. E-gift cards are used in Western countries only.

Eastern or Asian people might not be considered as pioneers in technology (?) or they might suppose that e-gift cards cannot convey enough emotion and sentiment from senders. Though Western countries such as the US, the UK, Canada account for huge number of virtual cards’ users, Asia Pacific is considered as the fastest growing market thanks to speedy developments in IT infrastructure, growing of electronic banking, improving in banking infrastructure, advancements in usability and affordability of plastic money.

5. Virtual vouchers are used only in special occasions

As spirit of gift giving activities, gifts are given simply deriving from givers’ heart to show affections. There is no need to count on special occasions to deliver them.

6. A person is allowed to hold a gift card only

Purchasing a gift voucher does not require a single name for signing up. Therefore, it allows unlimited number of people sharing the same certificate.

7. E-gift cards are purchased by men rather than women

It might because that men are more familiar with mobile devices or high-tech stuff, or it might be because women are considered to less practical than men. However, according to National Retail Federation Gift Card Spending Survey November 13, 2014, 70% of women planned on e-gifting within the next 3 months, compared with 50% of men. Besides, Statistical research figured out that virtual cards are the most-wanted gift by females and the third-most wanted by males.

8. E-gift cards are limited in country boundaries

Because of globalization and social network all over the world, e-gift cards are not limited in nation borders but spreading through continents, distributing happiness to any small corners. Thanks to the advancement of e-commerce, multi-national online stores are so abundant that gift certificates are redeemed internationally.

9. E-gift cards need fees to be operated

Comparing to physical gift certificates, electronic gift vouchers are speedy and more convenient since they are simply sent via recipient’s mobile numbers or email addresses. There are not shipping fees anymore instead of personal confirmations.

10. Fixed and unlimited amount

To help the government avoid funding terrorism and illegal money laundering activities, Federal law requires digital voucher providers limit the maximum gift card amount to not exceed $2,000. Moreover, buyers can have right to decide card amount they want.

11. Only online transactions are carried out

Transactions using virtual gift cards are available in both branded stores and online channels. They offer all the same benefits of traditional gift vouchers in general. Electronic gift cards can be printed out to hand recipients or they can be easily sent by post office. These features actually are available in some stores thanks to Gift Card extensions.

12. E-gift cards providers accept mastercard only.

Digital gift vouchers can be purchased by not only by mastercard but also by visa card and in cash. Payment methods are varied because gift certificates are considered as normal products.

13. Virtual certificates will be delivered right after purchasing

Normally, a digital gift card is distributed within 24 hours while a traditional gift card takes from 6 to 8 days for delivery. This makes an e-gift voucher an ideal choice for last-minute event. Moreover, there is a later delivery term applied in business deal. Buyers can determine delivering schedule at any day of year. Online stores can use Gift Card extensions to have this feature on their gift certificates

14. Digital gift cards are not secure

Whenever a virtual card issued by a business, this prepaid money is already stored in database system. Customers do not need any physical certificates to purchase products. Forget about the time that customers always tell themselves to bring their cards numbers and card’s ID. If an virtual gift voucher is lost or stolen, by showing purchasing evidences, providers will issue a replacement balance shown on records immediately.

Though new forms of e-gift cards, they have quickly increased in number of users thanks to convenience and meaningful approach. It will continue to grow up with superior advantages. Besides, digital gift certificates, nowadays, are becoming an all-round presents for every individuals and beneficial to both givers and takers thanks to Gift Card extensions. Especially for Magento online stores, this module plays an important role in boosting revenues and marketing their products. To learn more about this extension, please visit here