Giftcards

Gift Card Handling

Handling gift cards allows for (partial) payments as part of the total payment. There are two types of gift cards: open-loop and closed-loop.

Types of Gift Cards

• Open-loop: Card sold by different issuing points and can be used at different merchants/retailers. The flow of money can go from one entity to another.
• Closed-loop: Card issued and accepted by the same merchant. The cash flow remains within the same entity.

Paying with and Testing Gift Cards

Paying with gift cards can involve partial payments, so it is important to test this extensively. Test data for gift cards can be found on a dedicated page by searching for "Gift Cards".

Statuses of Gift Cards

Rules for Issuing and Accepting Gift Cards

New anti-money laundering guidelines have changed the rules for issuing and accepting open-loop gift cards. These cards can be issued at multiple merchants, and their value is stored electronically, thus considered electronic money. This makes it possible to use illegally obtained funds to purchase gift cards and then make purchases or redeem them in another way, returning the funds to regular transactions.

These guidelines do not apply to closed-loop gift cards, such as retailer-specific cards or limited category cards like the Dutch "Nationale Bioscoop Bon".

Restrictions on Gift Cards

• Maximum Value:
  • The maximum value of a gift card is €150 (previously €250).
• KYC (Know Your Customer) Obligation:
  • A KYC obligation applies to a payer with a gift card valued at more than €50. Therefore, a maximum of €50 can be withdrawn from the gift card for a (part) payment.
  • It is allowed to purchase a card up to €150 online without requiring a KYC procedure.
• Redeeming Multiple Gift Cards:
  • It is possible to redeem multiple open-loop gift cards up to a value of €50.
  • Above this value, the payment can be supplemented with a closed-loop gift card.
  • The remaining amount can also be paid with another payment method.