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Welcome Welcome

Rachelle Smith Pre. Pay Solutions Co-Chair UKGCVA Rachelle Smith Pre. Pay Solutions Co-Chair UKGCVA

Welcome • New Member – allpay – First Data – Smartbox – Smart Plastic Welcome • New Member – allpay – First Data – Smartbox – Smart Plastic Cards • Guests – – – Amazon Carlson Europe Corporate Innovations Dunelm Luminescence The Royal Mint

Conference • Wednesday 21 st April 2010 • Lancaster London • Lead sponsor is Conference • Wednesday 21 st April 2010 • Lancaster London • Lead sponsor is Pre. Pay Solutions (used to be Royal Lancaster Hotel)

Speakers include • • Tim Danaher – Retail Week Rebekka Rea – Retail Gift Speakers include • • Tim Danaher – Retail Week Rebekka Rea – Retail Gift Card Association, USA Cindy Mielke – JCPenney, USA Richard Burchill – Arcadia Ali Jones – Debenhams Ian Sanders – WHSmith Matt Lanford – Master. Card

Agenda Agenda

Agenda Agenda

Exhibition • Only 2 stands remaining • £ 1750 rate for members • Exhibition Exhibition • Only 2 stands remaining • £ 1750 rate for members • Exhibition during arrival, morning coffee, lunch, afternoon tea and drinks reception

Delegate Rate • £ 175 – member (No Free Places this Year) • £ Delegate Rate • £ 175 – member (No Free Places this Year) • £ 250 - non member • Book online via members web portal • 30% of members have not booked yet

Andrew Johnson Director General Andrew Johnson Director General

Agenda for Today • • Fraud Group Regulation Group Ernst & Young Data Market Agenda for Today • • Fraud Group Regulation Group Ernst & Young Data Market Research Group • Lunch • Issuer Members Only – EY Data Workshop

Fraud Prevention Project Group Update Graham Sellors Fraud Prevention Project Group Update Graham Sellors

Fraud Prevention Project Group Members • • • Mike Avery – Smith & Ouzman Fraud Prevention Project Group Members • • • Mike Avery – Smith & Ouzman Tracey Brown – Bemrose David Butler - National Garden Centres Julie Coxhill – DX Group Alex De Berry – Book Tokens Malcolm Edney – Kalamazoo Nicky Jeffrey – Smith & Ouzman Brian Kenworthy – Orion Tony Rich – Halfords • • Martin Rooney – Gift Voucher Shop Andrew Sellers – John Lewis Graham Sellors – Jordan Media Simon Truelove – Nitecrest Jon Walkington – Ceridian SVS Caroline Watson – Voucherline Yvonne West – Sainsbury’s Julie White – Grass Roots

Fraud Prevention Project Group Where we are • Need to indentify potential fraud risk Fraud Prevention Project Group Where we are • Need to indentify potential fraud risk in all aspects of the gift voucher and gift card production and sales chain • Current focus on 4 key areas: – Additional security on vouchers – Dispelling gift card fraud myth – Security in delivery of vouchers – e. Bay and voucher/card reselling • Long term objectives in discussion

Fraud Prevention Project Group Security on Vouchers Graham Sellors - UKGCVA Nick Cooper - Fraud Prevention Project Group Security on Vouchers Graham Sellors - UKGCVA Nick Cooper - Luminescence

Fraud Prevention Project Group Security on Vouchers • Various security features already in use Fraud Prevention Project Group Security on Vouchers • Various security features already in use by members on their individual vouchers • Printers came together to suggest an additional feature exclusive to UKGCVA members • Use of a thermochromic ink as an additional feature to those you already have • Nick Cooper from Luminescence

Fraud Prevention Project Group Tri-Thermochromic & Fluorescent ink • Combination of overt & covert Fraud Prevention Project Group Tri-Thermochromic & Fluorescent ink • Combination of overt & covert features • Tri-Thermochromic: Grey to Green at 25°C & Green to Yellow at 35°C. Can be easily verified in most ambient temperatures • Yellow UV fluorescence as secondary verification feature Below 25°C Above 35°C

Fraud Prevention Project Group Security on Gift Cards Graham Sellors Andrew Johnson Fraud Prevention Project Group Security on Gift Cards Graham Sellors Andrew Johnson

Fraud Prevention Project Group Gift Card Fraud • Like vouchers, issues with stolen credit Fraud Prevention Project Group Gift Card Fraud • Like vouchers, issues with stolen credit cards used to purchase gift cards • Press before Christmas due to Corsaire White Paper, stating mag stripes on gift cards are easy to copy • Corsaire is a security consultancy specialising in mag stripe fraud – just a PR stunt • Group working with Gift Card Processors to formulate best practice for gift card processing

Fraud Prevention Project Group e. Bay & Reselling Gift Cards Graham Sellors Caroline Watson Fraud Prevention Project Group e. Bay & Reselling Gift Cards Graham Sellors Caroline Watson Andrew Johnson

Fraud Prevention Project Group e. Bay – reselling • Customers are buying ‘second hand’ Fraud Prevention Project Group e. Bay – reselling • Customers are buying ‘second hand’ gift vouchers and cards e. Bay. • These may have been obtained fraudulently or the gift cards may have no value • Damaging to the industry • e. Bay wont do anything to stop this happening • Can we stop e. Bay selling gift cards and vouchers? • Written a buyers guide to be placed on e. Bay • Hints placed that buyer may end up with nothing • What else can Issuers do?

Fraud Prevention Project Group e. Bay – play their game • In the USA, Fraud Prevention Project Group e. Bay – play their game • In the USA, emergence of several ‘resellers’ of gift cards via internet sites • Examples include Plastic Jungle

Fraud Prevention Project Group e. Bay – play their game • Exchange unwanted gift Fraud Prevention Project Group e. Bay – play their game • Exchange unwanted gift card for cash or one you want • Donate the card you don't want to charity • All above board and legitimate • Big retailers in USA all participate

Fraud Prevention Project Group Solution • Plastic Jungle are already looking at the UK Fraud Prevention Project Group Solution • Plastic Jungle are already looking at the UK • Should the Association be proactive in this sector • Do a deal so the Association ‘owns’ the concept in the UK • Association sets the rules and has some control • May even make small revenue

Fraud Prevention Project Group Delivery - Best Practice Julie Coxhill – DX Group Fraud Prevention Project Group Delivery - Best Practice Julie Coxhill – DX Group

Fraud Prevention Project Group Julie slides Fraud Prevention Project Group Julie slides

Fraud Prevention Project Group Moving Forward Graham Sellors Fraud Prevention Project Group Moving Forward Graham Sellors

Fraud Prevention Project Group Long Term Objectives • Better relationships with: – Merchant services Fraud Prevention Project Group Long Term Objectives • Better relationships with: – Merchant services providers – Card issuing banks – On line auction operators • Greater co-operation between Issuer members and Service providers • UKGCVA Code of Conduct

Fraud Prevention Project Group Long Term Objectives • Making sure UKGCVA members are in Fraud Prevention Project Group Long Term Objectives • Making sure UKGCVA members are in control • We may not beat fraud but at least we need to ensure that we have explored every avenue to minimise its effects on the UK gift card and voucher business

Fraud Prevention Project Group Any Questions? Fraud Prevention Project Group Any Questions?

Regulation Group Siobhan Moore - Salans Regulation Group Siobhan Moore - Salans

Regulation Group Members • • • Siobhan Moore – Salans Julie White – Grass Regulation Group Members • • • Siobhan Moore – Salans Julie White – Grass Roots Jon Walkington – Ceridian SVS David Butler – National Garden Gift Vouchers Alex De Berry – Book Tokens Toby O’Reilly – Ernst & Young Helen Child – GTP Ajay Sethi – Pre. Pay Solutions Deirdre Synnott – Gift Voucher Shop Robert Courtneidge - Salans

Regulation Group Objectives • Legislation in all aspects of the value chain • Current Regulation Group Objectives • Legislation in all aspects of the value chain • Current focus on two areas which are going through changes the European Union: – Emoney Directive – Harmonisation of VAT on Vouchers

Emoney Directive Siobhan Moore Emoney Directive Siobhan Moore

Where we are • Formulated a simpler table to assist in defining Emoney products Where we are • Formulated a simpler table to assist in defining Emoney products • Attended 2 meetings with HM Treasury to ‘present our case’ • Treasury have met with European counterparts and used our table as part of their presentation

Current e-money definition Monetary value, as represented by a claim on the issuer, which Current e-money definition Monetary value, as represented by a claim on the issuer, which is: – Stored on an electronic device – Issued on receipt of funds of an amount not less in value than the monetary value issued – Accepted as a means of payment by undertakings other than the issuer

New e-money directive Effective April 2011 • Any electronically, including magnetically, stored monetary value New e-money directive Effective April 2011 • Any electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is: – Issued on receipt of funds for the prupose of making payment transactions – Which is accepted by a natural or legal person other than the issuer

1. Paper Voucher Definition Where value is not stored electronically, single use or voucher 1. Paper Voucher Definition Where value is not stored electronically, single use or voucher given as change Example National Garden Gift Voucher Today, In or Out? Falls outside e-money directive as product is not electronic 2011, In or Out? No change

2. Paper Voucher Definition Paper Voucher with limited electronic application where voucher number is 2. Paper Voucher Definition Paper Voucher with limited electronic application where voucher number is stored online but a voucher, not cash, is given as change Example John Lewis Today, In or Out? Fall outside e-money directive as only used for validation purposes 2011, In or Out? No change

3. Electronic/Virtual/Digital Definition Electronic, virtual or digital voucher for redemption at site on one 3. Electronic/Virtual/Digital Definition Electronic, virtual or digital voucher for redemption at site on one legal owner Example Amazon Today, In or Out? Fall outside e-money directive as single legal entity involved 2011, in or Out? No change

4. Gift Card Definition Redeemed in issuers own stores or online at issuers own 4. Gift Card Definition Redeemed in issuers own stores or online at issuers own site. One legal entity, i. e. The same group company issues and accepts gift cards as payments for goods/services (closed loop) Example Harrods, Selfridges, Today, In or Out? Fall outside e-money directive as single legal entity involved 2011, In or Out? No change

5. Multi Brand Gift Card Definition Redeemed in stores or online under different brand 5. Multi Brand Gift Card Definition Redeemed in stores or online under different brand names but there is only one legal entity, i. e. The same group company issues and accepts gift cards as payment for goods/services (closed loop) Example Arcadia Today, In or Out? Fall outside e-money directive as single legal entity involved 2011, In or Out? No change

6. Single Brand Gift Card Definition Redeemed in own stores or on line but 6. Single Brand Gift Card Definition Redeemed in own stores or on line but complex group structure such as membership, franchise or international companies accept gift cards Example Debenhams (if accepted in Irish stores), Starbucks Today - In or Out? E-money regulations apply 2011 - In or Out? May be able to take advantage of limited network

7. Multi Brand Gift Card Definition Redeemed in own stores or on line but 7. Multi Brand Gift Card Definition Redeemed in own stores or on line but complex group structure such as membership, franchise or international companies accept the gift cards (restricted loop direct connect with companies within the gift card group) Example Book Tokens (new card), Kadeos (France) Today - In or Out? E-money regulations apply 2011 - In or Out? May be able to take advantage of limited network

8. Master. Card/Visa Scheme Gift Card Definition Scheme Badged or unbadged. Use of cards 8. Master. Card/Visa Scheme Gift Card Definition Scheme Badged or unbadged. Use of cards in stores or on line can be restricted by merchant id or branding Example One 4 all, shopping centre gift cards Today - In or Out? E-money regulations apply 2011 - In or Out? No change however the scheme could fall within the exemptions however MC & Visa require programs to be run under new e-money regulations

9. Master. Card/Visa Scheme Gift Card Definition Scheme Badged or unbadged. Unrestricted use, accepted 9. Master. Card/Visa Scheme Gift Card Definition Scheme Badged or unbadged. Unrestricted use, accepted wherever the scheme badge is displayed. (open loop) Example General purpose prepaid cards Today - In or Out? E-money regulations apply 2011 - In or Out? No change

Next Steps • Continuing to liaise with Treasury • Expect legislation to be in Next Steps • Continuing to liaise with Treasury • Expect legislation to be in place by April 2011 • Expect to get confirmed timetable by January 2011

Any Questions? Any Questions?

Harmonisation of VAT on Vouchers Toby O’Reilly – Ernst & Young Andrew Johnson - Harmonisation of VAT on Vouchers Toby O’Reilly – Ernst & Young Andrew Johnson - UKGCVA

Where we are • EU have been looking at VAT on vouchers for nearly Where we are • EU have been looking at VAT on vouchers for nearly 3 years • We have engaged with EU Commissioner and expected to be invited to attend meeting • Unexpectedly EU have commissioned research on our sector across all member states • Andrew has been liaising with Deliotte Belgium who are doing research on behalf of EU • Asked to submit data for UK market

Deliotte Research • Deloitte research is intended to support ‘Economic Impact Assessment that will Deliotte Research • Deloitte research is intended to support ‘Economic Impact Assessment that will inform proposed VAT changes • Based on broad, poor definitions used in last draft consultation document: – Multi Purpose Vouchers (almost everything) – Single Purpose Vouchers (almost redundant) – ‘Paid Product Discount Vouchers’ (not very relevant) • Approach to gathering data is patchy and not representative: only asking some traders

Why do you need to know? • Critically, research demonstrates lack of understanding of Why do you need to know? • Critically, research demonstrates lack of understanding of the voucher market • No recognition of: – – – – B 2 B v B 2 C paper v plastic Different roles, including issuers v intermediaries ‘retailer’ v ‘credit’ voucher regimes sales at discounts to face value Border line with financial services Use of composite rates in UK

Why do you need to know? • Could change the way you account for Why do you need to know? • Could change the way you account for VAT on the sale and redemption of gift vouchers and gift cards • E. g. VAT could be charged on sale of voucher/card rather than redemption • Could ‘overturn’ 2003 Schedule 10 A VAT • No recognition of the Emoney Directive and therefore under EMD open loop gift cards are VAT exempt, under VAT ruling they are subject to VAT

Next Steps • Arranged to meet Deliotte and EU Commissioner in Brussels on 16 Next Steps • Arranged to meet Deliotte and EU Commissioner in Brussels on 16 th March • Already submitted sales data to Deliotte to determine the overall % of the total gift sales in the UK • Agree next steps after meeting in Brussels

Any Questions? Any Questions?

Ernst & Young Data Andrew Johnson, UKGCVA Bill Alexander, Red Letter Days Ernst & Young Data Andrew Johnson, UKGCVA Bill Alexander, Red Letter Days

Data Summary 2009 • Members report sales of £ 1. 9 bn for 2009 Data Summary 2009 • Members report sales of £ 1. 9 bn for 2009 • Total market estimate at £ 3. 8 bn for 2009 • Already submitted sales data to Deliotte to determine the overall % of the total gift sales in the UK • Agree next steps after meeting in Brussels

Market Research Sub Group Andrew Johnson, UKGCVA Alastair Bellwood, Debenhams Pam Matthews, Incomm David Market Research Sub Group Andrew Johnson, UKGCVA Alastair Bellwood, Debenhams Pam Matthews, Incomm David Butler, NGGV Caroline Watson, SS Tony Craddock, GPE Alex de. Berry, Book Tokens Jon Walkington, SVS Martin Rooney, one 4 all Amanda Farrell, Asda

Where we? • Lack of relevant meaningful market data • Good research can help Where we? • Lack of relevant meaningful market data • Good research can help to – – – – Increase sales Planning & forecasting Inform trends Understand other members’ markets PR stories Attract new members & inform other sub committees Speak as one authoritative voice

Scope of sub committee • Use UKGCVA as resource to pool existing research • Scope of sub committee • Use UKGCVA as resource to pool existing research • Commission comprehensive consumer research – – Ideally conducted every 3 years Who is the customer, how do they segment What are their need states, how and what do they buy What is the decision tree; how do they display loyalty and propensity to buy – What are their motivations and barriers to purchase – To include buyer and recipient in the retail environment – To include paper, plastic, contactless and environmental relevance • Further research (funding dependent) focused on the market in general; specifically B 2 B

How To Achieve This • Collate data from UKGCVA members that can be shared How To Achieve This • Collate data from UKGCVA members that can be shared amongst other members – this should be free • Commission comprehensive consumer research – already happening – Using the UKGCVA central fund – And/or sharing the cost of research by each member contributing to a co-operative budget • Further research (funding dependent) focused on the market in general; specifically B 2 B

Dare you share? • Benefits of sharing – Everyone can apply some results to Dare you share? • Benefits of sharing – Everyone can apply some results to their own business – Obvious cost savings, internal marketing, good reason to join UKGCVA • Examples – Asda Savings card research produced surprising results about incrementality – Multichannel tracker gave insights into which retailers score best in awareness, consideration and purchasing of 1, 000 nationally represented people

New Research • Biggest research project ever undertaken by the UKGCVA • Specifically designed New Research • Biggest research project ever undertaken by the UKGCVA • Specifically designed for us, the industry • Diligent selection of agency • Methodology – Omnibus survey to determine market penetration – 8 in depth U&A focus groups spread nationally and demographically – 500 face to face interviews of at least 15 mins – Acorn and/or Mosaic profiling for each of the defined segments

Why is it relevant to me? • Issuer Members – Help to understand your Why is it relevant to me? • Issuer Members – Help to understand your customer – Sell your business internally – Can inform your strategy or plan – Gain an advantage over nonmember competitors • Service Members – Views of service members helped shape the research brief too. . – Quality research helps us understand both current and potential customer needs – Sense check your business model and strategies by correlating findings with your service offering

What if you pay? • See the full results at presentation from Action Point What if you pay? • See the full results at presentation from Action Point on 22 nd June (next members meeting) • Opportunity to ask Action Point specific questions on the research • Printed copies of each research section results to take away

What if you don’t pay? • A brief overview of the project which will What if you don’t pay? • A brief overview of the project which will be delivered in two parts: – Part one – Omnibus results at the conference – Part two – top line summary at the next members meeting on 22 nd June – The same as the press release

Any Questions? Any Questions?

Andrew Johnson Director General Andrew Johnson Director General

UKGCVA has moved! • Main numbers – 0870 241 6445 – 01344 393068 • UKGCVA has moved! • Main numbers – 0870 241 6445 – 01344 393068 • New Phone Numbers: – Andrew 01344 393322 – Sarah 01344 393323 – Andrea 01344 393324 • Address Atrium Court The Ring Bracknell Berkshire RG 12 1 BW All email addresses remain the same

Lunch & Networking Lunch & Networking