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Giftbit Visa Incentive Card — Take control with a new approach to credit card incentives.
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@stan incentive cards, promotional value, and gift cards are all subject to different laws and regulations. This is not a gift card and not meant to be purchased by consumers. To enable this Visa Incentive Card, we went through thorough compliance work and diligence with the bank and network. I hope this clarifies your concern.
We strongly feel that recipients should spend the value they get. But, the industry stats show a range of 5%-14% of value never getting spent. That waste is unfair to the incentive buyer.
@leif Makes sense. Though it definitely sounds like a gift card given the name and comparison to "traditional" gift cards (if this isn't a gift card then why is the adjective "traditional" needed to differentiate?). I get the difference now but I wonder if your customers' end users will.
@stan it's our job to make sure that the use cases for this incentive card are compliant. The user experience for the recipient makes it very clear and we send reminders to people to spend their value.
Hey Product Hunt,
This product is for companies that need to send awesome rewards or incentives and don't want to waste money. 🙂
A problem with traditional gift cards and incentive cards is that recipients forget to spend the full value.
The Giftbit Visa Incentive Card let you send a digital or physical Visa card to someone.
If they don't spend the full value within a year—despite reminders to do so—then you get credit back for the unspent value.
Giftbit ensures you only pay for what people actually spend.
I'd love to hear your questions and feedback.
- Leif
@leif Congrats on the launch Leif! Looks amazing :) Sure the partnership took a long time to bring together, this is huge news!
And wow, the landing page is so smooth!
@realsimonburns Thanks, Simon. Yes, this product comes with a significant amount of technical and compliance overhead. The good news is that Giftbit has done the hard work so that people who want to send this card don't have to!
How does this compare to Dash Card (from Karmic Labs)? besides Giftbit is Visa and Dash is MasterCard? http://www.getdash.io/
@trentbigelow Dash is made for corporate expense accounts and making it easy for your team to pay for business expenses. Giftbit is for corporate rewards and incentives, which is usually a business sending value to a customer or a user.
If you want to reward someone for testing out your UX, you might use Giftbit.
@askdaylen Yes! Giftbit's head office is over in Victoria, so we'd love to get a Canadian card going. 🇨🇦
Sadly, it likely won't come until 2017. 😞
Hmm.. So to clarify, as appose to sending a specific gift card tied to a specific brand, this product is redeemable at anywhere excepting VISA?
-Thanks
@chris_pitchford You've got it. This card is accepted anywhere that Visa is accepted in the USA. Plus, you can give recipients a digital or physical option.
....
and the money-back is sweet.
@leif @chris_pitchford If its so, then why do we need to associate the brand cards, instead of labeling them as virtual credit cards ? :thiking:
@acpmasquerade Hey, I'm a little unclear on your question. Could you restate it?
@leif My question was, if giftbit doesn't tie cards to specific brand, why is it required to select the brand while creating the cards.
@acpmasquerade Got it. You must have logged into www.giftbit.com. You're wondering why you're only seeing Amazon, Starbucks, iTunes, etc.
For compliance, Giftbit has to review any user who wants to send the Visa Incentive Card. You have to apply for it before you'll see the card in your account.
@tomarran 🇬🇧 We don't have a set plan to roll out the UK yet. 2017 would be an optimistic timeline. Our first step is to really roll this out in North America. 🇬🇧
Remedy