VICTORIA, BRITISH COLUMBIA--(Marketwired - Dec. 9, 2013) - Kiind, (www.kiind.me), the BC startup that attracted huge attention from US retailers such as Amazon and iTunes with its digital gift cards that don't cost the giver money until the card is used, launches in Canada today.
This new concept of pay-on-use gift cards created by Kiind has changed gift cards forever. Kiind makes it possible to send someone a digital gift card but you won't be charged until the recipient redeems it.
This concept gained immediate traction with major US brands this past summer when Kiind launched the platform and signed up Amazon and iTunes USA within three months. The first group of brands that users could choose from included iTunes, Amazon, Nike, as well as hundreds of local businesses in cities like San Francisco and LA.
Today Kiind officially launches in Canada by adding major Canadian retail brands including Cineplex, Foot Locker, iTunes Canada, Harvey's, Kelsey's Restaurants, Milestones, and Swiss Chalet. There are currently hundreds of North American vendors on the site, including Columbia Sportswear, Gap, Home Depot, Nike, Red Robin, Sephora, and Tony Roma's.
"Kiind's digital pay-on-use gift cards aren't about being cheap they're about being smart," said Kiind's CEO and co-founder Leif Baradoy. "Kiind eliminates questions like 'I wonder if so-and-so ever used that card I gave them.' There's no more wondering and you don't pay until they redeem it. We are seeing huge traction from people who appreciate value and who like to track the gifts they give."
Kiind lets people defer if and when they pay for a gift and also offers an option for recipients to choose between multiple gifts or donate the amount to charity.
Businesses and professionals are using Kiind's gift platform to give holiday gifts to employees and clients. Many users appreciate that Kiind provides insights and analytics on every gift that goes through the system so givers can determine if and when a gift was used. Other customers like that there is no wasted plastic, no extra paper, no postage involved, and the gifts are immediate or can be scheduled-an added bonus for last minute holiday shoppers.
The North American gift card market is estimated at $120 billion and growing. Gift cards are notoriously wasteful with up to 18% of prepaid cards going unused. Recent changes to consumer protection and tax laws in both Canada and the US have made unused gift cards costly to manage for retailers. Kiind solves these headaches by managing the process, end-to-end, for retailers.
"We are moving to a just-in-time world. People expect just-in-time payments whether they are downloading songs or applications for their phones. Gift cards shouldn't be any different," said Baradoy. "The gift certificate concept is over a century old and prepaid gift cards started in the nineties. Right now, the time is right for change. Everyone has a mobile device in their hand and retailers are more comfortable with mobile payments. Kiind is here at the right time to make the gifting experience much more efficient without taking any of the fun out of giving-or receiving-a great gift."
More About Kiind
Located in Victoria, Canada, Kiind was founded in 2011 by Leif Baradoy and Peter Locke. Backed by a team of experienced advisors and investors, Kiind is a notable innovator in the gift card industry. The company recently launched an API that makes it possible to use Kiind within other tools and services (http://integrations.kiind.me) and has a patent pending on their proprietary technology. Try Kiind for free or learn more at www.kiind.me.