Partnership creates a path to convert unwanted gift cards into cash, or exchange them for other gift cards
September 6, 2019 (ATLANTA) – (NEWSWIRE DISTRIBUTION) – Cardpool, a gift card exchange that makes it easy for anyone to safely and securely buy discounted gift cards or sell unwanted gift cards, is partnering with KyckGlobal, Inc., a company providing next generation payouts that enable funding across numerous alternative payment methods.
Through Cardpool, consumers can buy gift cards for up to 35 percent off and sell gift cards for up to 92 percent of their value. By connecting gift card holders in a central gift card exchange marketplace, Cardpool helps consumers get exactly what they want, whether it’s a discounted gift card, a different gift card, cash or another form of payment altogether.
“We are excited to partner with KyckGlobal to enhance the payout options available to our customers,” said Matt Frye, president of Cardpool. “In addition to check and Amazon eGift cards, our customers will now be able to choose from more gift card options, reloadable prepaid cards, direct deposit to bank accounts, funds push to debit cards, deposit into PayPal accounts or cash pick-up from any MoneyGram location.”
KyckGlobal expands businesses’ payout options by providing a single platform that connects to numerous payment networks. Companies like Cardpool benefit from maintaining one single integration for payment and reconciliation across all payment types. Whether making one-time payouts or recurring payouts, the KyckGlobal platform simplifies the entire transaction from payee onboarding, verification and financial account funding to payment reconciliation and tax compliance.
“Cardpool is an impressive company with a unique offering that answers the question of what to do with unwanted gift cards,” says Jessica Koenig, founder and chief product officer of KyckGlobal. “The KyckGlobal platform is highly configurable and designed to solve multiple use case scenarios in a scalable manner. It’s always great to partner with an innovative company like Cardpool to leverage our platform to solve for a new and interesting use case.”
Converting gift cards into cash will be a turnkey process. Gift card recipients will go through the same selling process as they do today, with the added benefit of selecting from more payout options. Once sellers have accepted the payout offer, they’ll choose their preferred payment method and can even elect to split the payout across multiple payment methods. Even ‘store-exclusive’ gift cards can be quickly exchanged into widely-accepted forms of payments.
KyckGlobal, Inc.is a cloud-based fintech firm dedicated to helping companies streamline their outgoing payments, both recurring and one-time payouts. KyckGlobal recently raised $8 million in seed capital, enabling the company to build a next-generation platform to enhance the user experience for one-time payouts and strengthen loyalty among contractors by giving them dynamic control to manage their compensation, accounting, and compliance across payers. Headquartered in Atlanta, KyckGlobal was founded in 2018 by fintech executives and entrepreneurs. For more information, visit www.kyckglobal.com.
Cardpool, Inc. is a leading gift card exchange company where customers can buy discounted gift cards or sell gift cards for cash. Cardpool verifies the balance of each of its gift cards and offers the Cardpool Purchase Guarantee; see cardpool.com for terms and conditions. Cardpool also helps retailers provide their shoppers with these exchange services in their own physical stores or on retailer-branded sites. Cardpool provides a turn-key solution driving commerce for its partners, and retailers may integrate with the exchange services by using Cardpool’s proprietary APIs. Located in San Francisco, CA; visit Cardpool at www.cardpool.com.