Gyft Launches Rewards Platform
Just this morning, Gyft, Inc, the lead mobile gift card company announced the Gyft Points program to reward customers for use of gift cards. In May of this year, Gyft began accepting Bitcoin for payment back and as a result exponentially increase the growth of the number of opportunities for individuals to shop with Bitcoin. An individual is able to purchase 1 of 50,000 gift card options and as a result put Bitcoins to use.
Gyft put out the following press release:
Gyft Launches Rewards Platform to Give Consumers Up to 3% Back on Gift Card Purchases
Expands Options for Payment to Include PayPal In Addition to Credit Cards and Bitcoins
SAN FRANCISCO, Nov. 14, 2013 – Gyft, Inc, the leading mobile gift card company that allows customers to buy, send, manage and redeem gift cards via mobile devices and the web, has announced the launch of the Gyft Points program which has been specifically designed to reward consumers for their growing use of gift cards. Gift cards can be purchased through Gyft’s mobile app or the web site using credit cards, PayPal or bitcoins.
In a recent report by the National Retail Federation, almost 60% of Americans want gift cards – the most requested item to send and receive this holiday season. Just in time for the holidays, consumers can now earn Gyft points when purchasing gift cards from over 200 retailers and earn Gyft Points to apply towards future purchases. Those who purchase with bitcoins earn 3% while PayPal earns 2% and credit card purchases earn 1% back.
“With the launch of Gyft Points, we are showing our appreciation to our customers for helping us become the leading mobile gift card retailer,” says Gyft CEO and co-founder, Vinny Lingham. “We have also chosen to reward and thank the Bitcoin community in particular for their support, with 3% back in points for all purchases made using bitcoin until the end of the year – which is better than any credit card program out there.”
As a part of the launch, Gyft is giving away over 10,000,000 in Gyft Points from now until the end of the year to reward customers for all their purchasing and usage of the service.
Gyft also recently announced the launch of their Gyft Registry, a great way for consumers to create a wish list of their favorite gift cards. Gyft also received a $5 million round of funding in August 2013.
The Gyft platform now allows consumers to seamlessly earn rewards for shopping at over 100,000 retail stores across the country, all linked to a central rewards program. The Gyft mobile app allows for instant purchase and redemption of gift cards at the point of sale.
Consumers will still receive all of the benefits from their credit card providers on top of the rewards offered by Gyft, and will receive additional rewards points for making purchases with PayPal and Bitcoin.
Gyft, a Techcrunch Disrupt Finalist, launched in 2012 and has quickly risen to be one of the most popular gifting apps. To learn more about Gyft points, please visit www.gyft.com/points/ or download the app from Google Play or the App Store.
Gyft was founded in January 2012 by Vinny Lingham, CJ MacDonald and Mark Levitt – with a goal to disrupt the existing $100 billion gift card market. Gyft provides a gift card platform for consumers and retailers that enables customers to upload, buy, send, and redeem gift cards conveniently from their mobile device. Gyft is seamlessly integrated with Facebook so users can send gift cards to their friends around special events. Gyft is a private company funded by Google Ventures, Karlin Ventures & Ashton Kutcher’s A-grade investments, with offices in San Francisco, CA. For more information, visit www.gyft.com.