• All major Canadian retailers offer gift cards. Most of the cards issued include an expiry date, averaging between 18 months and two years.
• Ontario is the first Canadian jurisdiction to move to regulate gift cards
• Informal surveys indicate that the majority of gift cards sold by major retailers in Ontario have expiry dates. Many do not provide prominent disclosure of terms and conditions and several include some kind of service fee or loss of value after a specific length of time
• Gift cards and other stored-value cards are one of the fastest-growing products in the marketplace today. Figures from retail consultant firm J.C. Williams shows the American gift card market grew to $45B in 2003 from $1B in 1995, and is expected to reach $70B this year
• At least 24 states in the U.S. have enacted laws governing gift cards. Many require clear disclosure of the expiry date and other terms and conditions. Other states prohibit expiry dates and any fees that reduce the value stored on the gift card. Still others regulate the specific terms and conditions of expiry dates and service fees. (Source: National Conference of State Legislatures)
• Regulating gift cards will protect the dollar value of the card that the consumer purchased.

Contacts:
Paul de Zara
Minister’s Office
Office: 416-327-3072
Cell: 647-388-9671 

Ciaran Ganley
Ministry of Government Services
416-325-8659