samiwhitie
New member
Product:
An app that allows you to take money from your gift cards and put it into your pocket.
Use case:
Many times gift cards have balances of $1 or less on them. Say you have 100 gift cards with $1 on each of them. $100 dollars is a lot of money right? However, because you can only spend the money on one card you can only buy things for $1 or less. The goal of this app is to allow people with money left on their gift cards to take that money from their gift cards and put it towards something they want to instead of being forced to buy something that is within the limit of the gift card.
Cons: The app only allows conversion from open-loop gift cards.
Market:
Global Gift Card Industry is worth billions of dollars with increasing popularity of open-loop gift cards.
https://capitaloneshopping.com/research/gift-card-statistics/#:\~:text=Unused%20Gift%20Card%20Statistics,value%20between%202021%20and%202022.
App development:
Product is currently finished development.
Product Competition:
30 sec demo video:
An app that allows you to take money from your gift cards and put it into your pocket.
Use case:
Many times gift cards have balances of $1 or less on them. Say you have 100 gift cards with $1 on each of them. $100 dollars is a lot of money right? However, because you can only spend the money on one card you can only buy things for $1 or less. The goal of this app is to allow people with money left on their gift cards to take that money from their gift cards and put it towards something they want to instead of being forced to buy something that is within the limit of the gift card.
Cons: The app only allows conversion from open-loop gift cards.
Market:
Global Gift Card Industry is worth billions of dollars with increasing popularity of open-loop gift cards.
https://capitaloneshopping.com/research/gift-card-statistics/#:\~:text=Unused%20Gift%20Card%20Statistics,value%20between%202021%20and%202022.
App development:
Product is currently finished development.
Product Competition:
- My app allows to directly transfer money from gift cards to your pockets while other companies like Raise require you to sell them or somebody the gift card then get compensated.
30 sec demo video: