Kiind launched in Canada this week.
Kiind's concept of pay-on-use gift card has "changed gift cards forever," according to the Victoria-based startup, by making it possible to send someone a digital gift card where you won’t be charged until the recipient redeems it.
This concept gained traction in the US in summer when Kiind signed up Amazon and iTunes USA. This month Kiind is adding major Canadian retail brands including Cineplex, iTunes Canada, and Gap, plus hundreds of North American vendors like Nike, Sephora, Red Robin.
“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. “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.”
Users appreciate that Kiind provides insights and analytics on every gift that goes through the system so givers can determine if and when a gift was used. Other customers like that there is no wasted plastic, no extra paper, no postage involved, and the gifts are immediate or can be scheduled—an added bonus for last minute holiday shoppers, says the startup.
“We are moving to a just-in-time world. People expect just-in-time payments whether they are downloading songs or applications for their phones. Gift cards shouldn’t be any different,” said Baradoy. “The gift certificate concept is over a century old and prepaid gift cards started in the nineties. Right now, the time is right for change."
"Everyone has a mobile device in their hand and retailers are more comfortable with mobile payments," he added. "Kiind is here at the right time to make the gifting experience much more efficient without taking any of the fun out of giving—or receiving—a great gift.”