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Frequently Asked Questions

Listed below are some of the most frequently asked questions GRI Financial Services receives pertaining to its Gift and Loyalty Card programs.  Feel free to e-mail us at
info@grifinancial.com with
any further questions you may have regarding our Gift and Loyalty Card programs.

1.  How does the gift card program work?
  A customer enters the merchant's business and requests to purchase a gift card. The merchant collects the funds and takes a card from inventory.  The card is activated for the desired dollar amount by swiping the card through hardware. The card is now active and ready to be redeemed at any participating store location(s).

2.  Why should I switch from paper certificates to plastic cards?
A.  Electronic gift cards have become the medium of choice for retailers across the country. Reasons for this shift include: (1)  No cash back. (2)  If card is only partly redeemed, the remaining balance stays on the card and in the company's cash register. (3)  Cards can be reloaded and reissued again and again.  (4)  Plastic cards are harder to counterfeit than paper certificates

3.  What reports are available to a merchant?
  There are many helpful reports available to a merchant.  Every merchant on our system has their own user name and password to log in and retrieve their reports.

4.  What is breakage?
A.  Breakage is a term used to indicate gift cards sold but never redeemed. Revenue from breakage is almost entirely profit since companies need not provide any goods or services for unredeemed gift cards.

5.  What is pooling?
  Pooling is tracking and reporting card activations, added value and redemptions that occur at different locations in a multi-store, multi-owner environment. If requested, GRI can initiate an ACH funds transfer to move funds between the bank accounts of store locations to reconcile redemption imbalances according to the Pooling Report.

6.   What is a virtual terminal?
A.  A Virtual Terminal is a web-based transaction processing and customer data capture solution.  It allows a merchant to process all of the same transaction types as hardware with one additional feature. Demographic data can be entered for each cardholder so that customer purchase activity can be stored, "mined" and used to target marketing offers to specific groups of customers.  This is especially useful for loyalty card programs.

7.  Is theft a problem if cards are displayed at the point of sale?
  No, cards are produced without value on them.  Merchants assign the card's value at the point of sale when the card is purchased.

8.  What if a customer loses their gift card?
A.  Cards do not have to be replaced by the merchant.  However, if the cardholder has receipts and if merchant so desires, a new card may be issued for the remaining balance of the lost card.  Make sure to void the lost card after the balance is transferred.

9.  How will my employees know how to use the program?
  Every Gift & Loyalty Card package contains a Quick Reference Guide that walks a user through every transaction type in easy to follow steps.

10.  Will your gift and loyalty card programs work with our existing card terminal?
A.  That depends on the type of terminal you have.  Our program is certified on most major terminals in today's market.  All programs can also be run via our online Virtual Terminal at no extra charge.  This setup requires only a computer with an internet connection.

11.  How soon can the card be used after value has been added?
  All transactions are processed instantaneously making funds available immediately.

12. When are monthly statement mailed?
A.  Merchant accounts are debited around the 10th of the month for the previous month's activity. Statements are then mailed on or around the 11th day of the month. 

13. What kind of support does GRI provide?
A.  GRI offers support on many levels to its merchants:

Accounting answers any questions merchants have about their statements, billing inquiries, bank charges and ownership/location changes.

Technical Support is a traditional 24/7 hotline for merchants experiences a technical issue with hardware.  Our staff is trained in the functions and features of all of today's major hardware.

Artwork Help Desk assists merchants that are in the process of submitting custom artwork for cards. These trained graphic designers field questions about the technical and subjective qualify of the artwork.