Breaking News (Updated): Second (and Third) Gift Card Retailer Leaves NJ

by admin

Coincidence or Exodus?  According to the Associated Press, a second company is pulling gift cards from New Jersey shelves in response to that state’s unclaimed property requirements.  According to the article, Atlanta based InComm (which provides Visa, Macy’s, iTunes and other gift cards to more than 2,500 retail locations) is leaving New Jersey at the end of June.  InComm, like AmEx before it, has cited compliance with New Jersey’s unclaimed property law (which requires sellers to collect purchaser name and address information at the point of sale) as the reason for the withdrawal.

UPDATE (5:15pm):  According to an additional AP article, a third card seller, Blackhawk Network, has joined the exodus.