CashStar announced today that the U.S. Patent and Trademark Office granted the issuance of U.S. Patent Number 8,442,866 recognizing the company’s early innovations for creating and distributing virtual gift cards. This patent recognizes CashStar’s unique approach for enabling customers to personalize digital gift cards with messaging, text, and images, as well as its early leadership in processing and securely delivering digital gift cards.
“The awarding of this patent further cements CashStar as both the early innovator and the current market leader in the digital gifting space,” said Steven Boal, CEO of CashStar. “There is no doubt that the gift card business is heading for a complete digital transformation and I’m proud of the CashStar team and what they have accomplished over the past 5 ½ years to continue to lead the change.”
CashStar powers a network of nearly 300 leading retailer and restaurant brands on its eGifting platform including Best Buy, Chili’s Grill & Bar, Gap, Pottery Barn, QVC, Sephora, Staples, Starbucks, The Cheesecake Factory, The Home Depot, and Williams-Sonoma. Consumer demand for eGifts has exploded, with CashStar reporting first-quarter sales more than double the same period in 2012.
CashStar’s patent also includes innovations for mobile-optimized eGift purchases, which represent a fast-growing segment; digital gift cards purchased from the CashStar platform on a mobile device during the 2012 Holiday season increased 800 percent compared to 2011. Less than two weeks ago, on Mother’s Day, one of every four eGift purchases was made using a mobile device.
“Like many of our everyday activities, gifting is increasingly going digital. CashStar invented a new way for businesses to increase sales and loyalty using digital gifts,” said Gene Cornfield, vice president of marketing for CashStar. “This milestone patent marks the first time a process for virtual gift cards has been created for use by retailers and restaurants that covers the complete end-to-end process.”
For more information about CashStar’s platform, which is based on the patent, visit: http://www.cashstar.com/egift-card-solutions
CashStar is the world’s leading digital gifting and incentives company, preferred by the world’s leading retailers. More than 250 brands leverage CashStar’s on-demand B2C and B2B gifting technology and multi-channel marketing strategies. CashStar’s brands acquire new customers, drive incremental sales, increase loyalty, and boost profitability by delivering unparalleled personalized, secure, and engaging eGift experiences via email, mobile and social channels. CashStar’s clients include Best Buy, Chili’s Grill & Bar, Gap, Pottery Barn, QVC, Sephora, Staples, Starbucks, The Cheesecake Factory, The Home Depot, and Williams-Sonoma. To learn more about how CashStar is constantly innovating the way businesses strategically leverage gifting in the digital world, please visit www.cashstar.com or e-mail .
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