Mobile gift card platform adds Bitcoin support
Partnership “blows open the door” to major retailers
US mobile gift card platform Gyft has added support for bitcoin purchases of gift cards on the Android platform.
The support comes from its partnership with BitPay Inc., the world’s biggest payment processor for the bitcoin virtual currency.
“The partnership with Gyft and BitPay blows the doors open to major retail for bitcoin users,” claimed Tony Gallippi, co-founder and CEO of BitPay. “Any shopper in a participating retail store, with bitcoins on their Android device, can easily convert bitcoins into a store gift card and pay for their purchase. The whole process takes less than one minute and can be done on a single mobile device.”
Vinny Lingham, Gyft co-founder and CEO, said that, by using its existing network of retailers, Gyft will be able to offer bitcoin customers the ability to instantly spend their virtual currency at “hundreds of merchants” in the US.
Customers will be able to buy mobile gift cards using bitcoins and redeem them at over 50,000 physical retail locations across the USA including GAP, Lowes, Sephora, GameStop, American Eagle, Sports Authority, Nike, Marriott, Burger King, Fandango, Brookstone, and many more household brands.
Users download the Gyft app select bitcoin as the payment method at checkout and make the payment from their bitcoin wallet.
Gyft is a mobile gift card app that allows customers to send, receive, and store all gift their cards virtually as well as check balances for what it says are hundreds of supported retailers. Existing cards can be re-gifted or new gift cards purchased from retailers across the US.
Gyft is a San Francisco-based company backed by Google Ventures, 500 Startups, Karlin Ventures and Founder Collective. The Gyft app can be downloaded from to iTunes or Google play.
BitPay is a Payment Service Provider (PSP) specialising in eCommerce, B2B, and enterprise solutions for virtual currencies. It offers tools to accept bitcoin payments online or in person, with the option to receive the funds as a bank direct deposit.