Giftify's white label partnership with CVS for gift card exchanges enters its second year, enhancing consumer options.
Quiver AI Summary
Giftify, Inc. announced that its white label partnership with CVS, which powers the CVS Gift Card Exchange, is entering its second year. The platform allows CVS customers to exchange unwanted gift cards for store e-credit, enhancing customer experience by eliminating the burden of unused gift cards. Giftify CEO Ketan Thakker emphasized the growing trend among retailers to recognize the versatility of gift cards while providing a convenient solution for consumers to trade in unwanted cards. Giftify, the owner of CardCash.com and Restaurant.com, continues to lead in the incentives and rewards industry, helping consumers and businesses realize value through gift cards and dining deals.
Potential Positives
- The white label partnership with CVS is entering its 2nd year, indicating sustained collaboration and possibly ongoing success in their gift card exchange program.
- The CVS Gift Card Exchange provides a valuable service by allowing customers to trade in unwanted gift cards, enhancing customer satisfaction and loyalty.
- Giftify, Inc. positions itself as a pioneer in the incentive and rewards industry, highlighting its leadership in the market with established platforms like CardCash.com and Restaurant.com.
Potential Negatives
- While the press release highlights a partnership with CVS, it does not provide specific performance metrics or financial details related to this relationship, which may lead to concerns about the sustainability and profitability of the partnership.
- The cautionary notes regarding forward-looking statements may raise red flags for investors, suggesting uncertainty in the company's future performance and reliance on assumptions that could prove incorrect.
- The lack of substantive achievements or innovations disclosed alongside the renewal of the partnership may imply stagnation in the company's growth and strategic direction.
FAQ
What is the purpose of Giftify's partnership with CVS?
The partnership powers CVS's Gift Card Exchange, allowing customers to trade unwanted gift cards for store e-credit.
How long has the Giftify and CVS partnership been active?
This partnership is now entering its 2nd year since its inception.
Where can I access CVS Gift Card Exchange?
The CVS Gift Card Exchange can be accessed at https://cvs.cardcash.com.
What services does Giftify, Inc. provide?
Giftify operates CardCash.com and Restaurant.com, focusing on incentives, rewards, and offering deals in retail, dining, and entertainment.
What benefits do customers get from using the gift card exchange?
Customers can trade in unwanted gift cards online, turning potential burdens into versatile gifts and e-credit for their preferred stores.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GIFT Insider Trading Activity
$GIFT insiders have traded $GIFT stock on the open market 6 times in the past 6 months. Of those trades, 6 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $GIFT stock by insiders over the last 6 months:
- KETAN THAKKER (CEO) purchased 10,000 shares.
- BALAZS WELLISCH (CTO) has traded it 2 times. They made 2 purchases, buying 36,000 shares and 0 sales.
- STEVE HANDY (CFO) has traded it 3 times. They made 3 purchases, buying 25,620 shares and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
Full Release
White Label Partnership Enters its 2
nd
Year
SCHAUMBURG, IL, Jan. 13, 2025 (GLOBE NEWSWIRE) --
Giftify, Inc. (NASDAQ: GIFT) (the “Company”), the owner and operator of leading digital platforms, CardCash.com and Restaurant.com, with a focus on incentives and rewards in retail, dining & entertainment experiences, is pleased to announce its white label partnership with CVS, powering their CVS Gift Card Exchange is now entering its 2
nd
year.
The platform that enables CVS to accept unwanted gift cards for store e-credit is accessible here:
https://cvs.cardcash.com
.
Ketan Thakker, Chief Executive Officer of Giftify, Inc., commented, “We are pleased to enter our second year working together with CVS in enabling their gift card exchange program. More and more retailers are aligning with our vision in that when they're well-chosen, gift cards are probably the best, most versatile gifts anyone could receive. But if you've been given a gift card to a store or restaurant that you don't enjoy, it can feel like a burden weighing down your wallet. The option to trade in your unwanted gift cards online is a win-win for all.”
About Giftify, Inc.
Giftify, Inc. is a pioneer in the incentive and rewards industry with a focus on retail, dining & entertainment experiences, as the owner and operator of leading digital platforms, CardCash.com and Restaurant.com. CardCash.com is a leading secondary gift card exchange platform, allowing consumers and retailers to realize value by buying and selling gift cards at various scales. Its Restaurant.com is the nation’s largest restaurant-focused digital deals brand. Restaurant.com and our Corporate Incentives division connect digital consumers, businesses and communities offering thousands of dining, retail and entertainment deals options nationwide at over 184,000 restaurants and retailers. Restaurant.com prides itself on offering the best deal, every meal. Our gift cards and restaurant certificates allow customers to save at thousands of restaurants across the country with just a few clicks.
For more information, visit:
www.giftifyinc.com
and
www.cardcash.com
and
https://www.restaurant.com
.
Forward-Looking Statements
Press Releases may include forward-looking statements. In particular, the words “believe,” “may,” “could,” “should,” “expect,” “anticipate,” “estimate,” “project," "propose," "plan," "intend," and similar conditional words and expressions are intended to identify forward-looking statements. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Accordingly, you should not place undue reliance on these forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the company. Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Giftify, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Giftify, Inc. is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability identify a suitable business model for the corporation.
Investors Contacts:
IR@giftifyinc.com
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