Buyers to Recoup Part of $10 Billion Wasted on Unclaimed Gift Cards With Cash-Back Service

Digital gifting service, Kiind, announces new, cash-back payment model for gift cards

Marketwired

VICTORIA, BRITISH COLUMBIA--(Marketwired - Jun 2, 2014) - Gift card buyers can now regain cash that would have otherwise been wasted on the estimated $10 billion of gift cards that go unclaimed each year.

Today, Kiind-the creator of cost-saving gift card technology-announced the addition of cash-back accounts for gift card buyers. Kiind has grown its reputation by pioneering technology that makes it possible to offer a gift card but only pay if and when the recipient claims the gift.

The newest evolution of the service sees Kiind expanding beyond credit cards for payments. Now, Kiind enables users to fund gift orders via a re-loadable account balance, which can be paid for via bank transfer, cheque, purchase order, or credit card. Additional payments options are anticipated later in the year. Available account balances can be refunded to a buyer at anytime.

"Cash-back accounts mean that Kiind users get more flexibility and control when it comes to their gift incentive programs. This is critical for the businesses that use Kiind for customer engagement," explains Leif Baradoy, the CEO of Kiind. "The payment space is evolving quickly. Customers rightly expect services like Kiind to provide them convenient options for payment, rather than narrowing their choice."

The concept of only paying for gift cards that recipients use gained immediate traction with buyers and major brands when Kiind launched in 2013. Used as a tool by businesses to incent and reward customer behaviour, a cash-back account allows Kiind users to send and track digital gift cards for hundreds of brands in North America, including Amazon.com Gift Cards, Amazon.ca Gift Certificates, iTunes Gift Cards for both USA and Canada, The GAP, Cineplex, Nike, Home Depot, Columbia Sportswear, JC Penny, and many more.

"Kiind has questioned many of assumptions in the established B2B gift card pricing model," states Matt Davis, the Director of the Gift Card Network. "They have rethought how gift cards are bought, sold, and given, in a way that benefits buyers, recipients, and merchants."

More About Kiind

Kiind was founded in 2012 on the premise that you should not pay for gift cards that are not used. Kiind has revolutionized the $120 billion North American gift card industry by saving businesses money on customer incentives and rewards. The company recently launched a digital gift card API that makes it possible to use Kiind within other tools and have announced a Merchant Service option that lets brands and retailers launch digital gift card programs on their own websites.

Demo Kiind for free or learn more at www.kiind.me.

For screenshots, logos, and more, visit Kiind's Media Kit at media.kiind.me.

Contact:
For interviews or to learn more, contact:
Kiind Inc.
Leif Baradoy
CEO
media@kiind.me
1-877-554-2186

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