Product: Digital gift cards
Company: Factor4 LLC
Factor4, a gift card and loyalty solutions provider, added online gift card and community gift card programs to its omnichannel gift card platform. These programs are designed to help small and midsize business owners prosper, stated Dan Battista, CEO at Factor4.
"We like to drive home the point that gift card programs aren't just for the holiday season," Battista said. "Stored-value programs are sales tools that bring value year-round."
Battista pointed out that Factor4's online gift card programs have helped U.S. merchants survive pandemic shutdowns by enabling them to generate gift card revenue while their storefronts and businesses were closed. Online gift card programs served as a lifeline during these times, and Factor4 waived set-up fees to help merchants, he added.
Battista also mentioned that merchants can sell digital and plastic gift cards directly from their websites. Factor4 provides fulfillment services for plastic card orders and offers the following online service options:
Factor4 community gift card programs are designed to help cities and downtown districts leverage COVID-19 relief funds and local grants by providing residents with gift cards to use at local merchants. Battista noted that these programs also help local merchants by helping them attract new customers.
"We are managing the S.P.A.R.C. Community Gift Card Program for the City of Edinburg," Battista said. "The city has distributed $100 gift cards to 8,000 eligible households to spend and reinvest in Edinburg S.P.A.R.C.-approved businesses. To date, the S.P.A.R.C. program has awarded over $1.1 million in grants and $800,000 in gift cards for 560 locally owned small businesses via partnering with us."
Factor4 representatives stated that the company works with numerous POS providers, payment gateways, ISVs and VARs, and its solutions are integrated into more than 250 POS systems. Having numerous integrations provides a competitive advantage to ISOs, agents and partners, they noted. At a time when payment processors have shuttered gift card programs due to lack of integrations or support, Factor4's omnichannel solution works on mobile devices, online and in stores, they added.
An additional benefit is customer service, Factor4 representatives stated, noting that the company gets merchants set up with gift card programs and educates them on benefits. ISOs, agents and partners know that if their merchants have questions or concerns, Factor4 will address them promptly, responding to calls and emails within 30 minutes, they added.
Citing education as another differentiator, Factor4 representatives further noted that the company routinely educates ISOs, agents, partners and merchants on how to use gift card programs to generate revenue, attract new customers and reduce attrition. They added that the company's video demonstrations can be seen on its YouTube channel, https://bit.ly/3rU58J3.
Battista cited fear of losing gift card data as a leading reason why merchants and processors don't switch their gift card programs to a better provider. "Factor4 eliminates that concern with our seamless conversion process," he said. "We do all the work and take any existing provider's gift cards and make them work on our system. Merchants don't have to worry about losing any gift card data with our seamless conversion process."
The biggest benefit of Factor4 gift card programs, according to Battista, is how the company helps service providers reduce attrition by providing merchants with recurring revenue streams backed by stellar service. When service providers provide multiple value-added programs, they solidify relationships and make merchants less likely to attrit, he added.
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