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.
