Gift cards are a perfect tool to keep revenue flowing and stay liquid in bad times. It is an easy way to automatically refund many customers at once for canceled flights, trips, or other events that failed to take place.
- Ask your customers if they accept this type of refund or if they would prefer to get cash. Incentivize the gift card refund by offering some (for example, 5%) extra cash for that type of refund versus getting direct cashback.
- Offer a long gift card expiration date, especially if the cancellations are due to governmental restrictions and people are not sure when they can travel again.