Originally published by Alex Palmer on Incentive Magazine.
Integration with gift card marketplace aims to extend control and risk mitigation for merchants
Discount gift card marketplace Raise has partnered with prepaid commerce firm CashStar to provide retailers a secure and easy to manage platform from which to sell their gift cards.
Raise, launched in 2013, is currently used by almost two million consumers who use the service to buy and sell unused gift cards from more than 3,000 brands for cash. It has also expanded beyond this service to partner directly with more than 200 retail brands, which use Raise’s mobile app and website to sell their prepaid cards to consumers. The partnership with CashStar Exchange will allow Raise to expand to more than 250 merchants and 40 payment processors.
“We are excited about our partnership with Raise, especially because they share CashStar’s commitment to providing merchants with security and control,” said Matt Kerper, vice president of strategic business development at CashStar. He emphasized the control and greater level of security that the integration would provide, saying that, “This partnership will enable retailers to participate in the secondary market by making it easier for merchants to protect their brand, mitigate fraud risk and provide an excellent customer experience.”
Steve Rodgers, vice president of merchant partnerships at Raise, added, “When choosing a distribution partner, we were looking for a company like CashStar that is focused on technology and innovation. CashStar is a trusted prepaid platform and a technology company that understands the need to innovate as the retail payments landscape changes, making this partnership between our two companies seamless.”