The case is clear. In the world of class action settlements, the goal is to provide fair and just compensation to the affected parties accurately, efficiently, swiftly and equitably. The team at eGifter Rewards understands the challenges attorneys face when distributing monetary awards to satisfy class action lawsuits. We’re here to introduce you to a strategic solution that can revolutionize your settlement process—gift cards. In this article, we’ll explore the numerous advantages of using gift cards to streamline payouts, ensuring a smoother and more modernized approach for managing class action settlements. When you buy gift cards in bulk for class action settlements, your firm continues to win, even after the case has been decided.
10 Reasons to Buy Gift Cards in Bulk for Class Action Lawsuit Settlements
1. Cost-Effective and Efficient Payouts
Opting for class action payouts with bulk gift card purchases can dramatically reduce per-transaction costs as compared to to traditional methods like checks or bank transfers. This enhanced cost-effectiveness empowers you to allocate a more substantial portion of funds directly to your recipients, thereby amplifying the impact of the settlement.
2. Instant Delivery for Swift Resolution
Once a case is settled, time is of the essence and deadlines are unyielding. The swiftness of monetary payout distribution becomes critical. The eGifter Rewards platform is ideal in this instance, because it facilitates instant delivery of digital gift cards to participants. With no prolonged waiting periods, class action participants swiftly receive their awards. And, your team can move on to the next case expeditiously.
3. Overcoming Banking Barriers
The reality exists — not all recipients possess access to banking facilities. Or, they may prefer not to share sensitive banking information. In instances where access is limited or privacy concerns arise, gift cards provide a convenient and reassuring alternative. Buying gift cards in bulk and distributing them by email or postal mail allows law firms to satisfy a wider range of participants. This ensures that every recipient can access their monetary awards with ease, regardless of their unique circumstances.
4. Minimizing Unclaimed Funds
A standout feature of gift cards is their substantially higher likelihood of being redeemed. This fact stands in stark contrast to uncashed checks. In the realm of monetary awards, unclaimed funds can present a substantial challenge. The inherent appeal of digital rewards motivates recipients to promptly redeem their awards across a diverse array of popular retail stores, restaurants and experiences. This heightened likelihood of redemption serves two purposes. First, it bolsters the efficiency of the settlement process. Second, it contributes to a more equitable distribution of funds. This underscores your dedication to ensuring that the rightful recipients reap the full benefits of the class action settlement.
5. Empower Recipients with Choice
You can deliver the power of choice to class action participants through the avenue of gift cards, most specifically the eGifter Rewards Choice Card. This flexibility allows them to cherry-pick a gift card (or cards) from a vast selection of over 300 top retail brands. By fostering this sense of empowerment, you contribute to a more gratifying and meaningful engagement between participants and the settlement process itself.
6. Streamlined Logistics
The digital frontier has ushered in a new era of efficiency. Bulk gift card distribution seamlessly leverages these advancements. Sending gift cards by email and text is an easy way to overcome concerns related to delivery delays, lost envelopes and other postal mishaps. Those kinds of logistical challenges used to require teams of people having to work for days or weeks to execute a payout. The ability to source, personalize and send digital notifications containing gift cards offers tremendous advantages. With speed and security on your side, you can navigate settlement administration with confidence and ease.
7. Secure and Smart
Digital gift cards are safe, secure — and also trackable. That means they can be easily reissued if unused. With powerful out-of-the box dashboards and reports, record keeping is hassle free.
8. Fully Sustainable
Digital gift cards are eco-friendly with virtually no impact to the environment, comparatively. Your thought leadership by adopting sustainable practices is good for everyone. Migrating from paper-based payouts to paperless ones promote a greener settlement process. This practical action that proves you are not simply “talking the talk”, but actually “walking the walk”.