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Category Archives: Industry News

Court puts New Jersey’s gift card law partially on hold

    Provisions of New Jersey’s gift card law may be unconstitutional, the Third Circuit recently ruled, affirming a temporary injunction against the retroactive application of certain parts of the law. USA February 1 2012 In 2010, the state passed a law that, for the first time, provided for the escheat of gift cards to the state.

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    End gift-card grab for N.J. budget

      New Jersey’s attempt at a gift-card grab from consumers has created a fresh casualty. American Express has decided that New Jersey is not everywhere it wants to be, to cite a slogan from rival Visa. AmEx decided this week to pull its co-branded gift cards from retailers’ shelves in the Garden State, rather than comply

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      IGCC and RGCA Offer Reciprocal Membership Discount

        IGCC and the Retail Gift Card Association have formed a partnership to extend a reciprocal membership discount to eligible members of each other’s association. While IGCC was organized to promote the use of cards as preferred award choices in B-2-B programs, RGCA complements the IGCC’s focus in the incentive segment by providing advocacy, support, education

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        InComm to Continue the Sale of Gift Card Products in All New Jersey Stores

          Sunday, 01 July 2012 InComm, a leading prepaid product and transaction services company, announced today it plans to continue the sale of its Vanilla-branded Visa® and MasterCard® gift cards, as well as its retail branded gift card mall program in New Jersey.

          InComm had previously announced its plans to withdraw these programs from New Jersey retail locations because of the detrimental economic impact to businesses and consumers created by the 2010 modifications to New Jersey’s unclaimed property law. Now, however, as a result of the new bill signed into law this week amending New Jersey’s unclaimed property and consumer protection statutes, InComm will continue offering these programs in New Jersey retail locations for the immediate future. In addition to implementing a four-year moratorium on the law’s previous data collection requirement, the new bill protects consumers by eliminating expiration dates and post-purchase fees on gift cards sold in New Jersey.

          “We plan to continue selling gift cards in New Jersey indefinitely as long as there is no requirement to collect consumer data at the point of sale,” said Brooks Smith, President and CEO of InComm. “That new bill signed into law places a moratorium on the collection of consumer data for four years, which would expire in 2016. InComm intends to spend the next four years working to have any such data collection requirement permanently removed from the law. In the end, the data collection requirement negatively impacts all gift card issuers as well as New Jersey businesses and consumers, and we are hopeful that our continued efforts will result in further improvements to the law and continued protection for consumers.”

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          Measure to stop N.J. from seizing value of unused gift cards advances

            TRENTON — The Assembly Budget Committee today advanced a bill that would postpone the state’s ability to claim the value of unused gift cards for at least four years. The bill (A3045), approved 12-0, was amended to include stronger consumer protections, such as prohibiting gift cards from expiring and allowing those worth $5 or less

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