I also asked him about why Walmart left Gyft.
One of eGifter’s biggest priorities for choosing new retailers and brands to add to our marketplace is customer feedback – and the same applies to how the market is run.
The Litecoin and Dogecoin communities are growing fast, and we began receiving several requests from active members of each community to add their currencies as options on eGifter. When GoCoin told us they were launching a new service that could make this possible, we began doing the integration. We decided to accelerate the timeline to make sure it was completed during the Inside Bitcoin conference in NYC.
By working with GoCoin we get a fraud-free service, low cost transaction, and they immediately convert the coins to cash, so we are never exposed to the market fluctuations. This enables us to provide a valuable service to an enthusiastic community. Our brand partners benefit as well, by gaining the opportunity to sell more gift cards. As the market continues to evolve, and new payment alternatives emerge, eGifter will continue to be a nimble and early adopter.
I like how Tyler and eGifter listen to the crypto communities’ inputs and adapts to the market in a proactive way instead of reactive after everything has already happened. His vision, ability to adapt to the ever changing online landscape and ear to the needs of his customers is what makes eGifter a leader in not only the online business world, but also the crypto currency world.
We had Walmart in Q4 of 2013, and the same thing happened. I think they have just decided for whatever reason that they don’t want B2C third-party distribution of their eGift card.
eGifter is always the first to bring on new brands the moment they are ready for B2C distribution. This is what all of our members want, including the enthusiastic crypto-currency community, so we work hard to address these needs. We have a huge demand for Walmart and are ready to bring the card back the moment Walmart is ready.
Walmart may just be using Bitcoin as an excuse to keep things in-house for their gift card sales or at the least to only certain affiliates. Gyft.com may be caught up in that as well, or Walmart could specifically dislike Bitcoin but that is not clear at this point in time.
Things are moving fast in the crypto currency world, and even alt-coins like Litecoin and Dogecoin are becoming acceptable forms of payment, and it is a great sign to see eGifter moving forward with their integration.
Thanks Tyler for answering these questions.
Last modified: April 17, 2014 18:38 UTC