The purchase price of tokens for you as an admin is not the same as the cost of gift cards purchased by your users, due to transaction fees imposed by vendors.
The exchange value of tokens for gift cards depends on the vendor's specific agreement and can vary between shops. Vendors charge transaction fees for their gift cards when users exchange their tokens for cards, and the fee will be automatically deducted from the employee’s available token balance.
The transactional fee in the US is 10% for any purchased gift card and 15% for all other countries, as it includes an exchange rate fee.
These fees are taken in order to pay for the various transaction fees related to providing gift cards in multiple countries. The fees "paid" are to our gift card provider and include credit card and bank transfer fees and exchange rate fees.
Note that when purchasing tokens you are always notified that the price of purchasing tokens and the prices of the gift cards may differ.
It is also important to note that as a company Connecteam does not profit from these fees - they are simply taken to cover the cost of providing gift cards in multiple countries.
To learn more about these transaction fees, click here.
To learn more about the Rewards feature, click here.
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