Giftz & SensePass Create Alliance to Provide Rewards Payment Solutions at Point of Sale
The partnership provides consumers a seamless way to redeem "blockchain-secure" rewards at participating merchants.
LOS ANGELES, Aug. 12, 2021 /PRNewswire-PRWeb/ -- Rewards Media, Inc., a Delaware Corp and holding company of Giftz, LLC & Giftz Exchange, LLC (Giftz) and SensePass US, Inc. (SensePass) also a Delaware Corp is proud to announce that they are joining forces to change the way we all pay at checkout.
Giftz is a portfolio company of Tim Draper, Alon Goren and Josef Holm (DGH). Giftz' mobile app provides consumers a central place to collect, gift, exchange, or pay with loyalty program currencies and eGift cards from any iOS or Android smart device. Giftz tokenizes branded stored-value using blockchain smart contracts which enables customers to easily exchange points, miles and eGift cards peer-to-peer or be distributed as incentives and rewards, more securely, at a fraction of the cost of traditional programs. With Giftz, participating merchants can deliver instant digital value to enhance their customers' shopping experience, live-in-store, without the user knowing that value is being transferred via the blockchain.
SensePass has developed an innovative digital payment network, called SensePay, the platform enables brick-and-mortar merchants to accept any digital payment method, such as Giftz, Venmo, PayPal, Apple Pay, Google Pay, Coinbase, Trusty, account-to-account e-wallets, as well as traditional credit and debit cards. SensePay's proprietary Hardware as a Service device, offers retailers significant cost savings on traditional credit card terminals and maintenance. It is designed to integrate easily with any PoS to process transactions at a banking-grade-level security, and to offer detailed customer analytics to the merchants.
The partnership between SensePay and Giftz, provides consumers a seamless way to redeem third party rewards (cross-platform) and use that captured value to pay at point of sale. Giftz and SensePass will use a combination of patented PoS hardware and software solutions.
John Paukulis, Giftz' CEO explains, "SensePass provides an additional, secure way for Giftz to connect to in-store services which alleviates our need to integrate with disparate PoS architectures across the market."
Moty Arcuschin, SensePass' CEO says, "We believe this partnership with Giftz will extend SensePay's portfolio in North America, adding more options to pay at the checkout and enabling consumers to pay at any merchant using stored eGift cards, at a reduced processing cost."
According to Haydn Jones, Senior Blockchain Market Specialist, PwC UK, and author of The Executive Guide to Blockchain, stated: "...expect Blockchain to breathe new life into traditional, card-based loyalty and reward programs, generating some US $54 billion for the global economy by 2030." Jones also says in a PwC report, Time for Trust: The Trillion-dollar Reasons to Rethink Blockchain: "The younger generation is likely to be carrying around nothing more than a smartphone as a means of payment. They don't want a wallet full of plastic cards. They want to redeem, share and swap their points, whether air miles or supermarket rewards, on their smartphone. It can also be used in a similar way for gift cards and vouchers. With digital payments now the norm, consolidation of these programs is inevitable, and blockchain is key in unlocking value, in a fair way, for all involved."
With its focus on Blockchain, Giftz was named one of the Most Fundable Companies® in the U.S. According to Pepperdine Graziadio Business School and The Venture Alliance.
Media Contact
John Paukulis, [email protected], +1 8187931000 Ext: 700, [email protected]
SOURCE Giftz
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