Big deal on technology blogs and business news: Square has gotten into the gift card business. Some crafters are super excited and according to reporters, it could be a big deal for small businesses by boosting their sales by a lot. Some folks though are lukewarm about it, for two main reasons. First, the whole thing is a bit counterintuitive: the sender has to download wallet (Square’s mobile application for making payments without sliding your card) and then find the business (which has to have a square account and shop enabled), to be able to use the gift card option. Second and most important, the sender has to have wallet, the new Square application; and Square is not very popular yet, as a matter of fact. Yet, something tells me that this may be potentially a big deal for me. I’ve been wanting to offer gift cards through my shop for such a long time, but all the option I’ve explored so far are way out of my reach (aka, too expensive!)
Here’s how I see it:
1) The wallet option per se does not provide gift cards. Gift cards are part of every shop on the wallet shops directory. However, you can enable your shop visibility on the directory. This is done through your account @ squareup.com, by changing your business profile options. If your shop has a physical location, it come up very easily, also because of the relatively low competition at the moment.
That said, I have a “mobile” business and my shop does not come up easily in the business search on wallet if I type generic words such as “jewelry” and there’s not much room for customization on the Square profile. Besides, the person HAS to have Wallet, to be able to buy gift cards, and I don’t see a large number of people having it anytime soon. The next option is my real source of excitement.
2) The person ordering the gift card needs to have wallet. True, but who said that it cannot be YOU at a craft show, ordering the gift card from your phone and sending it to the receiver’s email on the buyer’s behalf?
I think this is the real deal.
If you are an Etsy seller and want to participate in the discussion, I have an open thread here.
Stefania – Twice
Creator and Owner
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