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Why are gift vouchers/tokens non-refundable?

April 26, 2017gift non-refundable tokens vouchers

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Why are gift vouchers/tokens non-refundable?

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I’m just wondering what the logic is behind it. I run a small business and issue gift vouchers. I know large retail stores etc have a policy where gift vouchers/tokens are non-refundable and have an expiry date and I just wonder why they do this.