Retailers Form Association to Defend Closed-Loop Gift Cards

Posted by John B. Frank Friday, March 13, 2009

The Retail Gift Card Association is recruiting new members with the aim of building a positive image of closed-loop gift cards, getting members to follow an ethics code, and countering the bad publicity directed at gift cards in recent months by consumer groups and legislators monitoring marooned cards whose sponsor retailers have failed.

The RGCA announced its birth in early December, but waited until Tuesday to outline its growth plans at the Prepaid Card Expo trade show in Orlando. The group has nine members and is looking to grow to about 40 in its first year, according to association spokesperson Carman Wenkoff, president of Value Pay Services LLC, a prepaid card firm owned by franchisees of the Subway sandwich chain. Wenkoff and Tom Boucher, senior program manager of gift cards at consumer-electronics retailer Best Buy Co. Inc., gave a progress report at the conference.

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Founding Members of the RGCA

Applebees
Best Buy
Home Depot
Kohls
Limited Brands
Marriott
Nike
Subway
Wal-Mart

Retail Gift Card Association, Closed Loop, Gift Cards

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