Kiind has released a gift card in Canada that doesn't charge the giver until the card is used.
Kiind in launching in Canada with brands such as Cineplex, Foot Locker, iTunes Canada, Harvey's, Kelsey's Restaurants, Milestones, and Swiss Chalet. Its other North American vendors include Columbia Sportswear, Gap, Home Depot, Nike, Red Robin, Sephora, and Tony Roma's.
Kiind recently launched an application programming interface that makes it possible to use Kiind within other software and services. Kiind also lets people defer if and when they pay for a gift and offers an option for recipients to choose among multiple gifts or to donate the gift value to charity. The company positions itself as an option for businesses and professionals to bring cost certainty to gift cards.
"Kiind's digital pay-on-use gift cards aren't about being cheap, they're about being smart," says Kiind's CEO and co-founder Leif Baradoy in a Dec. 9 press release. "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."
The Victoria, British Columbia-based Kiind launched its card this summer in the U.S., and signed Amazon.com and iTunes shortly thereafter. Other companies pursuing the model include Tango Card, which estimates enterprise rewards programs cost businesses about $50 billion annually.