Giftbit, a company that operates a digital gift card marketplace for online retailers, is launching a new product today at TechCrunch Disrupt SF that will enable merchants to easily create their own custom currency — meaning gift cards, promo codes and refund credits — without having to build their own, internal systems. Available as an API, the new service drops into the checkout flow on the retailer’s website. Meanwhile, a web application also allows non-technical users — like the company’s biz dev team, for example — to create promo codes on the fly, as needed.
For several years, Giftbit has run a profit-generating gift card marketplace, which is how it was able to identify this gap in the market. Traditional gift card networks, like Blackhawk and Incomm, haven’t addressed the e-commerce space, as they’ve historically focused on brick-and-mortar businesses, instead.
Once implemented, Giftbit can power any custom currency the business needs, whether that’s promo codes it’s distributing online, refund credits the customer service team needs to issue or even sales of the company’s own digital gift cards on its site.
Merchants can also use the service to distribute codes with their own logo and branding; track, manage and edit contacts inside Giftbit; run detailed reports to see what’s working; email codes or download a set of links or codes to distribute themselves; and more.
The tool will also soon integrate with other business tools, like Salesforce or Zapier, for example. And it will be available to Shopify Plus merchants, through the e-commerce platform’s marketplace.
Because of its experience in this market, Giftbit’s system is secure, PCI compliant and capable of being used by enterprise-level businesses. Already, Giftbit has worked with several notable companies for its gift card marketplace, like Gusto, AutoDesk, Red Bull, LogMeIn, HubSpot and others.
Courtesy of TechCrunch
