Multi-Store Gift Card Coalition

Multi-Store Gift Card Coalition

April 15, 2008 12:37 ET

Coalition Looks Forward to Working with BC Government on Gift Card Legislation and Regulations

VICTORIA, BRITISH COLUMBIA--(Marketwire - April 15, 2008) - Companies representing the multi-retailer gift and prepaid cards industry welcome British Columbia's new (proposed) gift card legislation.

"BC's proposed legislation is a good first step. Our Coalition members have always emphasized the need for laws that stress disclosure, transparency and consumer choice. We look forward to working with the BC Government as it develops the new regulations. These regulations will need to recognize the unique features and consumer demand for the multi-retailer prepaid cards offered by our coalition members in shopping centers across the province," said Mitchell Toker of the Coalition.

In response to the growth and consumer interest in multi-retailer and prepaid cards, owners and managers of shopping malls have joined with issuers and service providers to form the Multi-Store Gift Card Coalition. Members include Cadillac Fairview, Ivanhoe Cambridge and Morguard. Coalition members operate malls across British Columbia, including Pacific Centre, Metropolis at Metrotown and Coquitlam Centre.

Unlike single retailer gift cards -- which are like plastic gift certificates and retain their value only as long as the retailer is solvent -- multi-retailer gift and prepaid cards are issued by members of global bankcard networks such as American Express™, MasterCard ™ and Visa™. The flexibility to redeem the card at such a wide variety of retailers along with the security of the card funds makes the multi-retailer gift card very popular with consumers.

Additional benefits of multi-retailer cards include: account balance information 24/7; toll free cardholder support; transaction history available online; simple replacement card of lost or stolen cards; and, the ability to return merchandise to the retailer with funds credited back to the gift card account.

The Coalition has been working with consumers, governments and the media to ensure that there is a clear understanding of the multi-retailer gift and prepaid card product and its related services, and to ensure that the popularity of this product continues in a consumer-friendly and fully transparent manner.

In its submission to the BC Government last year, Coalition members stressed the need for consumer protection regulations that establish stringent disclosure and transparency requirements, ban expiry dates and regulates fees for gift cards in a way that retains consumer choice.

Contact Information

  • For more information regarding this and other
    issues related to multi-retailer gift cards, please contact:
    Campbell Strategies
    Mitchell Toker
    (416) 368-7353 x230