On 6 July 2012, the CCAAC final report on Gift cards in the Australian market was released.
Gift cards are a market response to a consumer demand. On the whole, consumers benefit when giving and receiving gift cards. CCAAC encourages industry to develop and promote industry best practices when issuing gift cards
This review is closed
Terms of reference
The former Parliamentary Secretary to the Treasurer, now the Assistant Treasurer, on behalf of the Ministerial Council on Consumer Affairs, has requested CCAAC to examine:
- issues in relation to the purchase and use of gifts cards in Australia, for example, expiry dates, the discharge of low balances on gift cards, the disclosure of terms, conditions and fees of gift cards and the extent of unredeemed gift card balances;
- if there is consumer detriment, determine the level of consumer detriment arising from the terms and conditions of gift cards;
- the views of stakeholders affected by gift card sale practices, including consumers, retailers and other traders, insolvency practitioners and peak industry and consumer bodies;
- potential losses from insolvencies for consumers who hold a gift card;
- the effectiveness of international regulatory initiatives that seek to address consumer concerns related to gift cards and the appropriateness of these approaches to the Australian marketplace; and
- options to address any consumer detriment arising from the sale of gift cards.