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CardCash.com, a leading secondary gift card exchange operated by Giftify Inc., has partnered with buy now, pay later provider Zip Co. Ltd. to allow consumers to pay for gift card purchases in installments.
The partnership is expected to help CardCash users better manage their cash flow while receiving the savings on discounted cards offered CardCash.com, Giftify Inc. says. BNPL is an increasingly popular payment option, especially among Millennials and Gen Zers, the company adds.
CardCash.com is an online marketplace where consumers can sell unwanted gift cards or purchase them at discounts of up to 35% off face value, according to CardCash. The marketplace carries gift cards from Walmart, Kohl’s, Dillard’s, AMC Theaters, GameStop, Chili’s, Buffalo Wild Wings, and P.F. Chang’s, among others.
“By incorporating Buy Now, Pay Later functionality into CardCash, we’re enhancing the customer experience and providing more flexibility in how people access our discounted gift cards,” Giftify Inc. chief executive Ketan Thakker says in a statement. “We believe this additional payment option will help us better serve our customers while strengthening our position in the gift card marketplace.”
In related news, payment gateway provider Citcon is partnering with Splitit USA Inc. to offer one-click credit card-linked installment loans online and in-store through an embedded-checkout experience.
Offering BNPL is expected to help Citcon merchants increase conversion, reduce shopping cart abandonment, and offer payment options consumers want, Citcon says. One advantage to offering Splitit is that it leverages the credit consumers already have on existing credit cards to offer installment loan plans, as opposed to qualifying them for an installment loan at the time of purchase.
“Partnering with Splitit allows us to offer flexible omnichannel installments, bringing over 190 million U.S. cardholders with available credit, driving new sales at high average-ticket merchants,” Citcon co-founder and president Wei Jiang says in a statement.
