A new gift card that can be ordered on line and sent via email comes with a solution to unused balances which reached $1.8 billion in 2013.
Payment Data Systems‘ Akimbo Gift is integrated with its reloadable prepaid MasterCard. Unused balances can be transferred to that card, enabling the holder to withdraw cash at an ATM and transfer funds to a personal external bank account. That includes fractional balances and entire cards from merchants of no interest to the recipient.
That allows the recipient to spend on their priorities, Akimbo Financial CEO Houston Frost explained.
“We’re reinventing the idea of a gift card so that you’re no longer forced to spend. With Akimbo Gift you can move the funds to a reloadable Akimbo Prepaid MasterCard product and use the gifted money toward, savings, investments, or even to pay bills.”
Businesses can order and send cards in bulk via the Akimbo Now platform and API.