Introducing the Mi Card – A unique consumer gift card for your town.
The Mi Card is a prepaid Visa private label card which provides a new, simple way for local people to buy a gift for friends, family and colleagues. The recipients of the cards can then choose to spend their cards at a network of local businesses including restaurants, cafes, shops, attractions and entertainment businesses.
Miconex have partnered with Scandinavian company Presend to set up this new product designed to help retain more retail spend in towns and cities. There are currently 30 such programs in Nordic and Baltic countries with some of them generating over £500k of additional revenue for towns and cities every year.
How Does It Work?
• Via a small retail network
• Online via the e-commerce website provided
• At range of purpose built kiosks
• At a restricted network of local businesses
• Using existing Visa card terminals
• In full or in part at any local registered business
• Via hard copy marketing materials handed out with card purchases
• Via the website provided
• Via companion smartphone apps provided
Other uses for this infrastructure
This same infrastructure can be used to create a tourist pass. Tourists can purchase pre-paid cards and then when they use them they can receive discounts and incentives at local attractions and relevant tourism businesses.
Why Do Consumers Like It?
• It provides more choice than a single brand gift card
• Features all your favourite local businesses
• You don’t need to use it one place
• It includes mix of experiences and products i.e. cafes, restaurants, entertainment, leisure and retail
It supports the local economy
• It helps support and promote local businesses
• Provides an alternative to existing cards such as Amazon, Google and Apple
Why Do Businesses Like It?
• When surveyed UK consumers said that they would buy at least one card, on average they would spend £23 per card and purchase 3 cards per year
• On average people that redeem their gift card spend 30-35% over the value of the card
• This a proven way to introduce new customers to your business – people that receive the cards like to explore new businesses
• This is an opportunity for businesses to work together to create a strong joined up proposition for consumers
• The cards can be used online so can support local e-commerce websites