Kiind, a business-to-business gifting startup, has launched a reloadable account and added new funding methods to its platform to meet the demands of its business clients for payment flexibility.
Users can now fund the reloadable account also with a wire transfer, automated clearinghouse (ACH) transfer or a check. Previously, credit was the only payment method Kiind supported.
Kiind differentiates itself in the gift card space by charging buyers only if and when the recipient claims the gift within a certain time frame. The reloadable account will work similarly, with users funding an account with Kiind and being refunded if a gift is not claimed.
"That credit can be used towards future orders or be cashed out," says Leif Baradoy, co-founder and CEO of Kiind, in an emailed statement. For example, a business owner might provide department heads with access to the reloadable account to send out gift cards instead of giving those employees a company credit card.
More payment methods will be added later in the year, says Baradoy. Kiind launched its platform across North America in the summer of 2013 and by December had a client base that includes Foot Locker, iTunes Canada, Amazon.com, Nike and Home Depot.