Payments

Global Payments' Merchants Enters the Competitive Digital Gift Cards Space With Yiftee

Yiftee, Inc. signed an agreement with Global Payments Inc., a leading provider of payment technology services worldwide, to deliver Yiftee No-Hassle Gift Cards to retailers.

Yiftee is a digital gift card solution with no additional POS integration. By integrating gift cards to their site, merchants gain additional sales and increased foot traffic. With the Yiftee mobile and online app, merchants and consumers can send gifts via Twitter, email and text. Recipients pick up their Yiftee gifts using their mobile device at their favorite local restaurants and stores.

The hassle-free Yiftee Mobile Gift Card is designed to provide a simple method for Global Payments' US retailers to participate in the gift card space by simply adding a gift card link to their website. Global Payments allows merchants to sign-up to the service in a few minutes to be gift card-enabled.

Any retailer can subscribe to the service with the condition that he should accept MasterCard. The merchants can then allow their customers to buy digital gift cards from mobile devices or online. The customers instantly get a virtual gift voucher and personal message via email, text or Twitter. Yiftee is responsible for the administration and tracking work.

"Enabling Yiftee's mobile gift card solution fulfills Global Payments' promise to make available to our merchants products which will allow them to stay competitive and grow top line revenue," Frank T. Young, SVP, Global Product and Innovation at Global Payments, said in the press release.

“It's clear that commerce is going online, mobile and social, and today's independent merchants need to be there for the customers who already know and love them, plus to engage new customers. We are here to help them grow top line revenue with one simple link for all channels: their website, Twitter, Facebook, email, text and in-store,” said Donna Novitsky, CEO of Yiftee, in the press release.

Digital gift cards represent a small segment of the $100-billion prepaid card market. But the segment is growing rapidly, with digital gift cards gaining popularity among merchants and consumers because of their flexibility. Traditional plastic gift cards prove costly to manage and deploy and are thus an unattractive option for small and midsized businesses. The advent of mobile as a platform for digitizing gift cards has made the segment highly efficient and cost-effective for businesses big and small.

Priti Thakur

Priti has keen interest in digital money and fintech startups . She completed her B-School education this year and likes to write about innovation with respect to digital payments.

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