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ACI Focus: Innovations in Retail and Promotions

From the ACI website:
ACI’s Focus on Innovations in Retail and Promotions is an intensive study in sweepstakes, consumer incentive programs such as rebates and gift cards, and consumer privacy as it relates to these practices.

Agenda Highlight

11:45 AM - “No Expiration Fees” (Except the Ones in Fine Print) – Intensive study on Gift Cards & Incentive Programs

Nerissa Coyle McGinn, Loeb & Loeb LLP

  • How companies are dealing with the sweeping non-compliance for gift card regulation
  • Complying with the need to refund specific amounts
  • Managing risks of loss prevention if cards with remaining balances are never used again
  • How the gift card laws and their definitions are leading to increased confusion
  • Recognizing which states allow or require cash back
  • Monitoring state escheat laws and their interplay with card dormancy fees and “breakage”
  • If taxes are being paid, at what point does the revenue become bookable?
  • The recent explosion of state laws that govern electronic gift cards
  • Drafting clear language regarding point redemption
    • separating the collection period from the redemption period
  • Ensuring that the accounting department keeps an accurate inventory of points
  • Creating unique messages to describe aspirational awards
    • setting dormancy requirements