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Voucher Marketplace
Voucher Marketplace and how to get set up
Voucher Marketplace and how to get set up
Updated over a week ago

❗️Important❗️ Before proceeding, to be part of the Voucher Marketplace you must be on the Premium Subscription. If you would like to update to the Premium Subscription click here.

What is the Voucher Marketplace?

When a customer completes a loyalty card for your business on SQUID, the full card gets converted to a voucher for the specified reward type e.g. “1 Coffee”. This is stored in their SQUID Wallet until they redeem it from you.

The Voucher Marketplace allows you to sell these vouchers directly to users through the SQUID app. Customers can buy bundles of vouchers to redeem later.

Vouchers are redeemed just like loyalty rewards - when customers tap your SQUID Tag, they get an option to redeem a voucher.

Features

Fast Checkout for Customers

Customers can buy your vouchers directly in-app using Apple Pay, Google Pay or by entering Card Details. It takes 30 seconds!

Set your own Prices and Discounts

Set the unit price of the vouchers you sell. Incentivise customers to buy larger bundles of vouchers by offering discounts.

Stripe Connect for Security and Accounting

We are using Stripe’s platform for accepting customer payments and transferring funds to you. We never store any payment details; they only go through Stripe’s secure servers.

Why Join the Voucher Marketplace?

  • Selling vouchers is better for your cashflow as it’s money in the bank faster

  • Good for customer loyalty- customers are committing to returning X times

  • You can sell vouchers online even if your physical premises must close temporarily

  • It saves time at the point of sale – a single tap is required to redeem (payment and loyalty already dealt with in advance)

  • No upfront or monthly fees- the monthly Stripe Connect account fee is included in SQUID Premium plans. This means if you sell no voucher bundles, you pay nothing.

  • Transparent transaction fees - 35c + 2.5% from each bundle sold (less than 1% goes to cover the cost of SQUID processing, the rest is to cover the various Stripe fees, a detailed breakdown is available on request).

Gifting

You can now opt-in to “Gifting”, allowing customers to also send vouchers to friends. When they buy for a friend, a unique voucher code is created. This can be sent to the

buyer’s email address or as a themed e-gift to a friend. The voucher code is activated in the SQUID app by the recipient. The vouchers are redeemed like normal loyalty rewards by tapping off the SQUID tag in your business

The buyer will receive the loyalty stamps for their purchase, incentivising customers to buy gifts through SQUID. All sales go directly to your bank account via Stripe Connect and are subject to the same Marketplace transaction fees. They are cheaper than physical gift cards (no point-of-sale setup, low transaction fees).

How to get started

1. Create your Listing

Tell us about the voucher bundle sizes and prices you’d like to sell them for in our simple form. You can also opt in to offering gift vouchers.

2. Create your Stripe Profile

Create your Stripe Connect profile through our Express form so we can pay you directly to your bank!

3. Get Verified

We create your seller profile on SQUID and Stripe verifies your business and bank details. This should take less than 48hrs.

4. Start Promoting and selling!

We will notify you when your vouchers go live on our marketplace so you can start promoting your campaign on social media.

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