Dallas based digital gifting platform, Swych announced that it would start supporting cryptocurrency payment from next week. Swych will enable its users to use five cryptocurrencies as the mode of payment, which includes Bitcoin [BTC], Bitcoin Cash [BCH], Litecoin [LTC], Ethereum [ETH], and Ethereum Classic [ETC]
Swych is one of the popular mobile gifting platforms that use payment providers like Paypal, Apple Pay, Google Pay, and Amazon Pay. It was established in 2015 by Deepak Jain and backed by capital investment from UAE Exchange Group, a global money transfer exchange, and payment solutions provider.
The platform allows users to buy and send virtual gift cards from more than 600 retailers including Old Navy, Banana Republic, Amazon, Best Buy, Bed Bath & Beyond, Gap, Target, Kohl’s, Nike, Macy’s and more.
Furthermore, if the user does not like the brand of the received gift card, they can switch it easily with the brand they would like to use. The platform empowers them to swap the virtual funds of the received brand with the brand of their choice.
In an announcement, Deepak Jain claimed that the decision to accept crypto payments would definitely give them an edge over other competitors.
He said,
“We feel we are ahead of the game considering most retailers have not yet chosen to accept crypto payments.”
Besides, he expressed that the company received lots of requests to start accepting cryptocurrency and it will provide new options as per consumer demands.
“In keeping with Swych’s mission of providing our consumers with choice and flexibility, we’d like to provide new options based on our customers’ needs — crypto integration is one of the many requests we’ve received.”
Recently, we reported that a virtual gift card platform Bitrefill started crypto payment on the dating app Tinder. It seems like virtual gift card platforms are looking at integrating crypto solutions.
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