SOURCE: Gyft

Gyft

November 29, 2013 06:00 ET

Gyft Drops Bitcoin Bombshell on Black Friday With 4% Back on Gift Cards Purchased With Bitcoins

PayPal and Credit Card Purchases Also Receive Extra "Gyft Points" for New Gift Cards

SAN FRANCISCO, CA--(Marketwired - Nov 29, 2013) - Gyft (http://www.gyft.com/), the leading mobile gift card company, has announced that it will provide an unprecedented 4 percent points on gift-card purchases made on Thanksgiving Day and Black Friday using Bitcoin. For non-Bitcoin users, Gyft will provide 3 percent points back on PayPal purchases, and 2 percent points back on credit card purchases. These percentage points will be rewarded in the form of "Gyft points" and may be exchanged for new gift cards.

Gyft currently sells gift cards from more than 200 retailers, including top retailers like Foot Locker, CVS, Kmart, Sears, Target and Zappos; apparel manufacturers, including Columbia Sportswear, Gap, Lands' End, Nike, Old Navy; restaurants, electronics, and much more. The promotion will begin at 9 p.m., Pacific Standard Time, Thursday, Nov. 28, and ends at 11:59 p.m., PST, on Friday, Nov. 29.

Gyft allows consumers to buy gift cards through their mobile phones, eliminating the expense and hassle of mail order or in-person purchases, as well as adding security lacking in physical gift cards that leave them prone to theft and fraud.

For the first time, holiday shoppers can buy gift cards that can be used at more than 100,000 physical stores across America, as well as more than 200 e-commerce sites. Unlike plastic cards, which can be lost, stolen or hacked, Gyft allows shoppers to carry hundreds of gift cards inside a single app, with secure password protection and cloud-based backup.

Besides its ease of use for mobile phone users (available for free download at the iPhone or Google Play app stores), Gyft integrates with Facebook, email and text, so gifts can be sent quickly and securely throughout the world. Gyft even lets users track whether the gift cards purchased for friends and family have been used, and it lets gift recipients re-gift the card to others.

Gyft has not only been a pioneer in mobile gift cards, but in Bitcoin e-commerce, with several thousand Bitcoin transactions to date. "We are happy to be offering an extra 1 percent back on all purchases, be they by credit card, PayPal or Bitcoin, so everyone can have a happy holiday," said Vinny Lingham, Gyft's co-founder and CEO. "There are no transaction costs, and in the case of Bitcoin, one is able to eliminate all risk of currency fluctuation by seeing the exact exchange rate at the time of purchase."

About Gyft
Gyft was founded in January 2012 by Vinny Lingham, CJ MacDonald and Mark Levitt with a goal to disrupt the existing $100 billion gift-card market. Gyft provides a gift-card platform for consumers and retailers that lets customers upload, buy, send, and redeem gift cards conveniently from their mobile device. Gyft is seamlessly integrated with Facebook so users can send gift cards to their friends around special events. Gyft is a private company funded by Google Ventures, Karlin Ventures and Ashton Kutcher's A-grade investments, with offices in San Francisco. For more information, visit www.gyft.com.