New legislation to extend consumer protections for gift voucher purchases will be put in place before Christmas.
A range of new protections will be implemented with all gift cards having a minimum expiration of five years. This will end a practice where cards will expire and consumers will lose their value completely.
A new ban on the obligation to spend a coupon for a transaction will also be introduced.
The consumer protection bill was introduced as a result of numerous corporate controversies that place stringent requirements on gift certificates, often resulting in heavy losses for consumers.
One of the biggest sellers of gift certificates, One4All, said the new legislation would not affect its customers because their cards have no expiration date and can be used in various transactions.
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