2014 Gift Card Network

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processing

overview

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Gift Card 101 | Processing Overview www.thegiftcardnetwork.com www.thegiftcardnetwork.com Gift Card 101 | Processing Overview 3 2

Contributors

Written by:

MATT DAVIES

Powerhouse Brands Consulting

Presented by:

THE GIFT CARD NETWORK EDUCATION COMITTEE Designed by: DEAN WILLIAMS Powerhouse Brands Consulting

MATT HOOD

Card Compliant

JAYNE STEGEMILLER

Cracker Barrel Old Country Stores

REBEKKA REA

Innovative Prepaid Solutions

BRYAN WANG

Givex

KATHARINE LASEE

Travel Tags

HEATHER ABBOTT

Powerhouse Brands

NICKY SCHARDT

Vantiv

KRISTIN HORAK

Heartland Payment Systems

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Gift Card 101 | Processing Overview www.thegiftcardnetwork.com Gift Card 101 | Processing Overview 7 6

Introduction

One of the most critical vendor decisions to make is how to process the

transactions that are a core competency of any gift card program. Gift card

processors create and manage the databases and connections in which gift

card transactions run. When a merchant chooses a processor, an “integration”

with the merchant’s POS and ecommerce systems is established so gift cards

can be sold as a product and redeemed as a tender type. This decision is

vital to the health of the program, and is often difficult to change after initial

integration occurs due to the impact on internal resources.

DID YOU KNOW? Gift Card

processors do not hold funds for

gift card programs—the funds are

held on the books of the merchant

or issuer along with an accounting

liability until redemption occurs,

which converts the gift card value

into revenue, sometimes called

“deferred revenue.”

This integration allows card numbers and PINs to be transmitted from a variety of POS types to the processor in a transaction mes- sage. The processor then verifies the card number, currency type, and value on a card and sends authorization or denial messages.

NOTE: A common term used in referencing stored value cards is “split tender.” Split tender describes the process that occurs when the gift card value is less than that of the total transaction value (a common occurrence), and another form of tender (like cash or credit) is used to make up the balance. In order for gift cards to work properly, the POS must be coded to be able to take multiple forms of payment for a single transaction total.

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PURCHASE PATH

REDEMPTION PATH

STORE

PROCESSOR

STORE

PROCESSOR

POS Gift Card

Purchase Transaction POS Transaction

Verify Card Information

Verify Card Information and Value

Transaction Finalized

Send Authorized Dollar Amount to POS Gift Card Transaction Recorded Gift Card Transaction Recorded Transaction Finalized

POS Asks for Additional Payment if Split Tender Send Authorization

to POS

POS Takes Payment

POS Registers Payment

Transaction Processor Builds and

Provides Reports Transaction Processor

Builds and Provides Reports

In

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DID YOU KNOW? The connections between

processors and merchants are sometimes

referred to as “rails,” i.e., “what rail are you

running that transaction on?” This term can

apply to gift cards, credit cards, or loyalty

programs—any situation in which there is a

direct connection between the POS and an

authorizing database. A merchant can have

multiple rails depending on how their processing

system is set-up. Everything can run on one rail if

a “switch” vendor is used to route transactions to

different entities. This vendor acts like a railroad

switch—the POS sends all transactions to the

“switch” who decides based on the transaction

information where to send the transaction to in

order to get it authorized.

WHY DO I NEED

A PROCESSOR?

While a small number of companies act as their own processor, most companies realize a large number of benefits from outsourcing their processor duties. Since a gift card processor is the centralized “hub,” merchants can enhance and develop their program more easily by outsourcing processing and/or other program responsibilities. Basically, the processor generates gift card numbers and PINs, keeps a list of transactions against each card number, and authorizes transactions.

HAVING A PROCESSOR HELPS A MERCHANT

IN A NUMBER OF DIFFERENT WAYS:

Capability Merchant Benefit

Generate Card Numbers and PINS Internal IT is not required to accomodate requests, vendor is accountable for accuracy Specialize in functionality and expertise for

gift card transactions Internal resources are not taxed for functionality and card generation requests Standardized technology hub that can

allow easy integration for distributing to third parties

Allows direct integration with processor rather than with internal system

Specialized reports that address standard

gift card issues Utilizes best practices and/or other client feedback for reporting Access to technology, production, and

fulfillment partners and solutions Makes technical integrations much easier without taxing internal teams Specialized knowledge and capability to

deliver flexible gift card related solutions Can bring technological ideas and solutions to common gift card or retail challenges

In

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Functions

PROCESSOR BASIC FUNCTIONS

The point of having a processor is that they will take on the specialized database work, provide comprehensive reporting, and easily connect with third parties. These basic functions include:

l Gift card number generation and management

l Receive and authorize (accept or reject) transaction messaging

l Keep a running history of all card transactions

l Provide balance inquiry results (return value)

l Cancel or void transactions

l Report card transactions

l Manage integrations and transaction maintenance with third party companies

PROCESSOR OPTIONAL FUNCTIONS

There are other functions that some processors offer. The thing to keep in mind is whether these additional functions are things you want or need assistance with, and what their cost is relative to their value. Not all processors offer these services, but it is notable that each of these functions have competitive management services offered by a number of other vendors or they can be managed internally.

CARD PRODUCTION

The end-to-end management of card production. Card production setups vary by processor, and some offer flexible options. Keep in mind that printers specialize in different things and have different price points, so a program planning lots of different kinds of innovation should also plan on working with multiple printers or with a processor who can bring a number of printers with a variety of printing capabilities.

Setup #1: “Black box” guaranteed per-unit pricing, where the processor chooses the printer and manages every aspect of the production cycle. This provides maximum convenience but little to no transparency to vendors, production process, or margins, and little direct control over substrates, quality, or overall product output.

Setup #2: Processor-managed card production with merchant involvement where the merchant can choose from a variety of printer options and pricing. This offers a large degree of flexibility and transparency while receiving assistance with the administrative and quality assurance process.

Setup #3: A large number of printers have internal management processes and may offer card management services independent of the processor. General consultancy, production brokerages, or internal staff are also management options. This offers maximum flexibility but a separate contract and negotiation with another vendor or investments for the time and expertise for management by internal staff, usually the sourcing/purchasing/ procurement department.

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PACKAGING PRODUCTION

This is the project management of identifying packaging vendors, options and production. Processors can bring packaging vendors and sample options to their clients.

Setup #1: “Black Box” guaranteed per-unit contract pricing for certain packaging types. Selection is limited to the packaging types that have been agreed to. Visibility to innovative solutions may be limited.

Setup #2: Project Management to source packaging ideas and produce the packaging with a chosen vendor. This option more easily

allows innovation as well as flexible pricing.

Setup #3: Make recommendations on packaging vendors and be a source of advice for packaging requirements for easy fulfillment and activation. Project management is handled internally or through external consultation. Maximum flexibility.

B2C AND/OR B2B ECOMMERCE PLATFORM:

Hosting or powering a website to sell gift cards to consumers or businesses. A back end portal is usually included with the solution to allow staff members to place orders directly.

Setup #1: Separate Web Page: The processor hosts a separate web page and takes orders directly. Usually uses the processor’s merchant ID for credit cards. If fraud protection guarantees are included in the solution, this is usually the required choice.

Setup #2: Framed-in Solution: The processor provides an interface to “frame” into an existing web page. Can utilize the merchant’s own credit card merchant ID and sometimes their online basket. Fraud tools are sometimes offered, but fraud protection guarantees are usually limited.

Setup #3: Self-Managed Process or outsourced process with another vendor. Some merchants choose to host ecommerce themselves and send authorization messages to the processor in a daily file, or find a vendor whose core competency includes offering ecommerce solutions. The processor would be integrated into the solution to process activation transactions.

“Setup # 1 and Setup #2 tend to be more limited

in terms of customizing the web page’s look and

feel. Many processors offer off-the-shelf templates

for these platforms. Setup #3 might be preferable

if the merchant wants to use an existing website

or wants it to be very custom.”

—Bryan Wang, Givex.

PHYSICAL OR DIGITAL FULFILLMENT (B2B OR B2C)

This is the management of fulfilling orders taken online through pre-printed cards stored in a warehouse or the digital fulfillment of cards. Usually processors find vendors to outsource these services, but may act as the broker to identify and manage vendors.

Setup #1: Processor manages physical fulfillment house, taking and processing files daily and activating cards as needed. Sends physical cards to clients or customers through an outsourced fulfillment house, and digital cards directly.

NOTE: Some processors offer auto-replenish-ment programs that can automatically detect sales per location and auto-replenish

inventory from those sales. Keep in mind that store feedback loops are necessary to make sure that lost, discarded, or misplaced inventory is replaced as well as sold cards.

Setup #2: Act in a processing role only, taking files from the merchant’s internal system, ecommerce vendor, or fulfillment house of choice and processing activation transactions for each order.

LOYALTY POINT PROGRAMS

Loyalty point programs are very similar to gift card transactions and functionality. Many proces-sors will act as a bank to store loyalty points as well as gift card currency. Setup options are very flexible and are reliant on client needs.

CREDIT CARD CHARGES (B2B OR B2C)

Gift Cards are very similar to credit and debit transactions, so some processors have the ability to bundle credit card processing services along with gift card processing.

Setup #1: The Processor is the merchant’s credit card processor as well. This offers some bundling opportunities but potentially less flexibility in the solution.

Setup #2: The Processor only transacts credit card transactions for gift card transactions through their ecommerce or B2B

ordering system. These processors do not tend to do their own credit card processing and may bring in a partner to process those credit cards.

Setup #3: The Processor is not involved in credit card transactions and another, more specialized credit card processor is used.

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IVR AND CALL CENTER FOR CUSTOMER SERVICE

A large number of inbound consumer calls are balance related. In order to minimize the labor costs of balance inquiries over the phone, Processors can offer IVR (Integrated Voice Response) services that allow consumers to check balance through a toll-free phone number. Some processors also offer the ability for the customer to escalate their call to a customer service call center for human-to-human balance inquiry and issue resolution.

Setup #1: The processor handles IVR balance inquiries and acts as a first line of defense for consumer questions, as well as an online balance check system that interacts with the processor for card balances. Usually any value-related resolutions are passed to the merchant for authorization and execution.

Setup #2: The processor handles IVR balance inquiries and forwards all customer service calls to the merchant’s call centers. Online balance check is standard.

Setup #3: The merchant hosts IVR services, uses an API to connect to the processor for card balances, and utilizes their own call center and online balance check.

Setup #4: The merchant does not offer IVR services and provides a direct number for customers to call their call centers or directs them to a website balance check.

FRAUD NOTE:

Fraudsters want your card numbers and

PINS! When utilizing IVR or online balance

inquiries, limit the number of balance

inquiries that a specific person, phone, or

device can ask for within specific time

periods. Fraudulent “gift card number

generators” act on the concept that they

can keep trying card numbers randomly

until they find the correct ones with value

on them which they immediately sell.

Limiting the device and session counts can

reduce this fraud significantly.

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Reporting

Each processor has a different slew of reporting, and most provide some sort

of portal and customized reporting structure. Reports that are used all the time

for most programs include:

l Transaction Reporting: Shows a history of all gift card transactions within a certain time period. Transaction types (activate, redeem, balance inquiry) are noted.

l Daily/Weekly/Monthly/Annual Gift Card Sales Reports: may be broken down by stores, registers and time periods.

l Breakage/Escheatment Reporting: A variety of report types focused on value left on gift cards over time.Missing Transaction Reporting: A report that identifies any issues the POS may have had communicating with the processor. Usually built from two files—POS transaction files and the processor’s own transactional database.

This is typically made up of two parts:

1. Transactions the POS recorded but are not recorded in the processor database

2. Transactions the processor database recorded but are not recorded in the POS system

l Lift Report: Shows the redemption value of the gift card as well as the total transaction amount for that transaction, which is the calculation of “lift.”

l Escheatment Compliance Reports:

Shows gift cards by number of months since last use. Used in state escheatment processes and breakage.

DID YOU KNOW?

“Lift” is the difference between the average

transaction value and the average gift card

redemption value. Incremental spend,

another significant metric, is the difference

between the average total transaction value

of transactions including a gift card

redemption and the average total

transaction amount (measures the influence

of a gift card on the total transaction value).

“Float” is another metric, measuring the

average time between gift card purchase

and gift card redemption.

Repor

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INTEGRATION

How the systems talk to each other, usually through messaging and daily sales files. The solution may be a “complete integration” with the POS system (Full integration between the processor and the POS systems) or another solution that transacts gift cards outside the POS. Integration cost may be flat pricing or hourly based. Sometimes cost is included in an overall pricing package. NOTE: By employing a processor, you are

giving a third party access to see your customer’s transactions and potentially personal data. Make sure to have a non- disclosure agreement in place around the consumer data as personal consumer data may be available to all vendors involved in the purchase or sending of gift cards.

Contractual Elements

EXPECTED FEES

Each processor may have different structures and may propose pricing in a variety of different ways.

TERMINATION

Relationships are rarely infinite or perfect, and systems may need new partners to address unknown future challenges. Since processors are fully integrated with a number of different systems (at a minimum, integration with the POS and ecommerce) moving to a new processor may involve a major IT project and the transfer of all card numbers and transaction history to a new provider. It will probably also take a few months to complete, based on the merchant’s IT support situation. Make sure the following items are covered in the initial contract to make sure that if needed, a transition to another provider is as seamless as possible.

Ownership of card numbers and data: Due

to the setup of numbering structures, some processors may seek to retain ownership of card numbers, BIN ranges, and transactional or consumer data. Identify which data may be needed in a transition, and what the terms of that transition might be so that there is a comprehensive plan in place that does not affect cards in the hands of consumers currently in the market.

The ideal transition of data includes historical transactional data. This allows the transfer-ence of escheatment and other related activities to the new provider. At the very minimum, a transfer of card numbers and balances should be planned for. Plan for one transference of data with the bulk of historical data early in the process (the new processor will need some time to load the data into their system and test it for accuracy), and another

“Delta” file with the remainder of the transactions on the day of cutover. Another “final value” file generated by the original processor with card numbers and correspond-ing remaincorrespond-ing value is vital to make sure that the new processor has access to the entire historical record and accurate totals for EVERY card number.

Make sure that these files and their approxi-mate delivery times are outlined in the contract, and that consequences for not delivering them are incorporated into the contract. Remember—the circumstances in which you choose to leave the original processor may not be an ideal situation to receive cooperation on file transfer accuracy and timeliness.

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CARD NUMBER GENERATION:

Industry-standardized card numbers contain 16 or 19 numeric digits, but some in-store numbers can have more. Some cards have alphanumeric codes (only some processors can support alphanumeric). There are five parts to every card number.

IIN: International Identification number (6 digits)—assigned by ANSI to declare the card issuer.

BIN: Unique numbers within the card number that declare a certain merchant (relevant when utilizing a processor’s card number sequence, or using the card number to identify certain types of cards). The BIN can fall between two and four digits depending on the application.

PAN: The sequential portion of the card number (being sequential allows batch activation). Sometimes part of the PAN is randomized (depending on the processor’s requirements) to increase security. The number of digits in the PAN is determined by the total length of the string minus the IIN, BIN, and check digit.

Check Digit: A number at the end of the card number that is calculated by the rest of the numbers in the string. Can be incorporated into “quick” security checks at POS.

PIN: A shorter string of randomized digits that usually lives under a scratch-pad—used for added in-store security and online redemption. Most processors have the ability to sell or “lend” a set of card numbers to their clients. However, you can affordably register your own set of card numbers through the ANSI. org platform. Look for the International Identification Number or “IIN” at www.ansi. org to register your own number.

Most processors allow you to register and use your own number and will utilize it for number generation. This means that any number generated will be unique to that merchant and that a large quantity of card numbers can be generated (depending on the card number structure)

DATA CENTERS

Data center setups vary by processor. Larger processors have at least one primary and one separated, backup system where transactions are archived regularly for disaster recovery. Some processors have data centers in many locations globally. The invention of increased security technology of the “internet cloud” has allowed flexibility in data center arrangement as well. Typically the cost of data centers is included in the overall pricing of the processor solution, but special connections or setups based on the integration requirements may create additional costs. NOTE: Some processors hold data for the length of the contract, some only hold data for a certain number of years prior to archiving and moving the numbers and their transactional history off the system. Make sure that the process for your chosen processor matches your requirements for escheatment and financial reporting.

TRANSACTION PROCESSING

There are a number of different kinds of transactions that processors support, including:

l Activate: Place new value onto a new, inactive gift card

l Reload: Place value onto an existing, already-active gift card

l Redeem: Remove existing value from an existing gift card as a tender type

l Balance Check: Return the current balance on a gift card

l Redemption Preauthorization: Places a hold on the card balance until the transaction is completed (primarily utilized online)

l Cancel/Void: reverses a previous transaction

l Block/Freeze Value: Makes the value on a card unusable until unblocked. Used for fraud prevention and research.

Other transactions may exist depending on the processor’s offering and capability. Pricing may be per transaction or some sort of monthly fee. This pricing can get very creative and unique per processor and overall processing package.

NOTE: Two standardized metrics for processing transactions are “uptime,” meaning the amount of time that a processor is available to process transactions, and “processing time,” meaning the time between request from the POS and the POS receiving a response. Guaranteed 100% uptime is not common as maintenance is sometimes required on the system. However, uptimes of 99% or higher are not uncommon. Processing time is usually sub-second to a few seconds based on where the server resides in relation to the POS and how fast the connection between them is. Make sure the uptime and average processing time for the processor, maintenance windows, and the times their system is available coincides with the needs of the business.

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RESPONSE TIME AND SERVICE LEVEL AGREEMENTS:

An “outage” when the transactions do not process is the worst case scenario, but there are other issues that occur that may need immediate research and resolution, including cards being printed incorrectly, mag stripes not working through magnetic swipe units, customers having issues with transactions at the store or online, etc. These issues come in three major categories:

Critical: Defined by customers being impacted by an issue in real-time. I.e., transactions are not going through. The standard response time should be really fast. Make sure that your processor’s standard (or negotiated) time frame makes sense for the pace and demographic of your business. (As a rule, faster is better.) A response time of this level should be minutes, with resolution following in minutes or hours, depending on the issue.

Important: Defined by a customer-facing issue that needs research—such as a disputed

balance, strange activity on the account history, or the card showing up as not activated. Response time for these issues should be hours with resolution within a reasonable time frame based on the nature of the issue.

Minor: Defined by a non-customer facing issue, such as reporting issues, or a business process or data feed that is lower priority and whose impact can be rectified easily. Response should be within a couple of days while resolution may take days or weeks.

CLIENT SERVICE POLICIES:

The way the processor interacts with the merchant is paramount in the day-to-day management of the processor. Understanding the level of service and attention the processor supports per client based on the amount of programs they are managing can be a major differentiator. Usually there is a primary account manager and if card production is involved, there may be a second point of contact for those projects. Make sure that any major areas of project management have an accountable party that is responsible for their execution.

THIRD PARTY INTEGRATIONS:

Part of the benefit of a processor is the fact that it can connect to third party companies easily. These could include:

l Gift Card Aggregators (who sell to distributors)

l Gift Card retail or B2B distributors (direct connection)

l Fulfillment Houses (to activate and fulfill cards)

l Ecommerce Solutions (Vendors who specialize in consumer facing online gift card stores)

The integration process with an outsourced vendor tends to be quick and relatively painless. Pricing for integrations should be included in a standard contract, and will be wildly different based on the processor’s pricing structures and negotiation.

CUSTOM DATABASE AND DEVELOPMENT

Depending on the systems and solutions required, processors may need to enhance their system to accommodate for new transaction types or consumer-facing functionality. Pricing for custom work is typically on an agreed upon hourly basis, and is not usually outsourced.

REPORTING DEVELOPMENT AND MAINTENANCE

Most processors will develop reporting internally or externally for their clients. Online reporting portals are typical, and reporting options and technology differ by processor. Pricing varies widely and can encompass the creation and ongoing maintenance of the reports. Some solutions include reporting development within a pricing package.

PRODUCTION MANAGEMENT

The processor may offer production management services and may offer guaranteed unit pricing, a management fee or percentage of goods value, or management included in an overall package. NOTE: Processors sometimes offer project management of outsourced vendors or act as brokers for the production of cards, packaging, and other items. Typically processors manage these projects at a cost, one that may not be transparent to the client. Understanding your options and the amount of control, pricing transparency, and empowerment you will have with an outsourced solution should be considered within contract negotiation. Doing a bit of research by pricing these items outside of the processor relationship may be helpful for understanding these issues better.

IVR/CUSTOMER CALL CENTER

The processor usually offers management of inbound calls from consumers. These are typically balance inquiries, and can be handled by IVR with call escalation options. IVR and customer service pricing may be billed by call minute or a flat rate per call. Adding customer service spoken languages typically adds cost, based on current capability versus requested capability.

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26

Global Capabilities

International clients are growing in number and complexity. This subject will be

covered in depth in another article—look for global processor specific articles.

However, the main things to look for in a global processor are:

LANGUAGE

Being able to have consumer or client facing websites, IVR, call centers, and back end portals in certain languages for global support.

CURRENCY EXCHANGE

Currency can be set up in a number of different ways. Exchange risk is always a big decision point for companies that do business internationally. Processors support currency exchange in a number of different ways.

LEGAL AND REGULATORY ISSUES

Quite possibly, this is the most confusing part of having an international program. Laws around gift cards continue to evolve as the market grows. The laws and regulation items to review with a legal team and watch for include:

l Money Laundering

l Consumer Protection including Personal Information and Transaction Data Warehousing

l Cash Back Laws

l Regional Taxes

l Foreign-based businesses doing business in certain countries or regions

l Required languages on products or marketing materials

l Escheatment & Lost Property

l Adequate Program Disclosures Processors can assist their clients with solutions for these items, but usually opt out of managing these complicated legal issues for their clients. Seek proper legal counsel prior to launching any program.

2014 Gift Card Network

processing

overview

Contents

inTroDUcTion

6

reporTing

18

FUncTions

12

conTrAcTUAL

eLeMenTs

20

gLoBAL

cApABiLiTies

overALL

Contributors

MATT DAVIES

MATT HOOD

JAYNE STEGEMILLER

REBEKKA REA

BRYAN WANG

KATHARINE LASEE

HEATHER ABBOTT

NICKY SCHARDT

KRISTIN HORAK

Introduction

One of the most critical vendor decisions to make is how to process the

transactions that are a core competency of any gift card program. Gift card

processors create and manage the databases and connections in which gift

card transactions run. When a merchant chooses a processor, an “integration”

with the merchant’s POS and ecommerce systems is established so gift cards

can be sold as a product and redeemed as a tender type. This decision is

vital to the health of the program, and is often difficult to change after initial

integration occurs due to the impact on internal resources.

DID YOU KNOW? Gift Card

processors do not hold funds for

gift card programs—the funds are

held on the books of the merchant

or issuer along with an accounting

liability until redemption occurs,

which converts the gift card value

into revenue, sometimes called

“deferred revenue.”

PURCHASE PATH

REDEMPTION PATH

STORE

PROCESSOR

STORE

PROCESSOR

DID YOU KNOW? The connections between

processors and merchants are sometimes

referred to as “rails,” i.e., “what rail are you

running that transaction on?” This term can

apply to gift cards, credit cards, or loyalty

programs—any situation in which there is a

direct connection between the POS and an

authorizing database. A merchant can have

multiple rails depending on how their processing

system is set-up. Everything can run on one rail if

a “switch” vendor is used to route transactions to

different entities. This vendor acts like a railroad

switch—the POS sends all transactions to the

“switch” who decides based on the transaction

information where to send the transaction to in

order to get it authorized.

WHY DO I NEED

A PROCESSOR?

HAVING A PROCESSOR HELPS A MERCHANT

IN A NUMBER OF DIFFERENT WAYS:

Functions

PROCESSOR BASIC FUNCTIONS

PROCESSOR OPTIONAL FUNCTIONS

CARD PRODUCTION

PACKAGING PRODUCTION

B2C AND/OR B2B ECOMMERCE PLATFORM:

“Setup # 1 and Setup #2 tend to be more limited

in terms of customizing the web page’s look and

feel. Many processors offer off-the-shelf templates

for these platforms. Setup #3 might be preferable