back Back

Bakkt and Blackhawk Network partner to make eGifts purchase easier with digital assets

By Pavithra R

April 07, 2021

  • America
  • Bakkt
Share

Bakkt and Blackhawk Network partner to make eGifts purchase easier with digital assetsGlobal branded payments provider Blackhawk Network has announced partnering with Bakkt, a Financial service company, aimed to bring transparency and trust to digital assets, enabling users to easily purchase eGifts using digital assets, such as bitcoin, supported loyalty points and cash.

The move comes at a time when consumers and merchants accelerate their adoption of digital payment options. Under the collaboration, Blackhawk’s portfolio of eGift brands will enable Bakkt users to buy, send and redeem digital gift cards for everyday shopping using the Bakkt App. Gift cards from over 60 retailers including, DoorDash, PetSmart, and other major retailers will be available for purchase and use in peer-to-peer transfer in the Bakkt App.

“Consumers appreciate the versatility of gift cards to convert digital assets into real spending power. Blackhawk is excited to launch this partnership with Bakkt and deliver on our commitment to innovative payment solutions which accelerate the growth of our partners and meet the demands of our customers,” said Helena Mao, vice president, global strategy for payments at Blackhawk Network.

The collaboration brings together two innovators with solutions for merchants and consumers in the digital marketplace. Bakkt App requires registration to use and enables consumers to unlock the value of digital assets, including bitcoin, supported loyalty points and gift cards while giving merchants and loyalty program sponsors deeper customer engagement and a lower cost of payment acceptance. The gift card management functionality within the app allows users to check their balances, aggregate physical and digital gift cards, and buy, spend or send gift cards all from one place.

“Today, consumers do not realize or leverage the real value of digital assets, including gift cards, due to the fragmented state of personal finance tools and services. Bakkt aims to provide the app, marketplace and payments infrastructure to make all digital assets transactable, and our partnership with Blackhawk Network is a significant part of enabling that flexibility and utility for consumers,” said Bakkt’s CEO, Gavin Michael.

Launched in 2018, Bakkt is leading a new era of financial services innovation, focused on reimagining and unlocking the value of digital assets like rewards and loyalty points, gift cards, and cryptocurrency owned by Intercontinental Exchange (ICE). The company’s goal is to make all digital assets as liquid as any fiat currency. Core to its platform is tapping into ICE’s ability to create a secure and regulated market infrastructure for users to safely transact all forms of digital assets in one place, as opposed to separate siloed apps for individual types of assets.

Previous Article

April 06, 2021

Stripe enters Middle East market with new office in Dubai

Read More
Next Article

April 07, 2021

Wipro appoints Sarah Adam–Gedge as MD for Australia and New Zealand

Read More








IBSi Daily News Analysis

March 22, 2024

America

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 28, 2024

5 Major FinTech Acquisitions announced in March 2024

Read More

March 28, 2024

Tempo France suspends classical remittances, to focus on DeFi

Read More

March 28, 2024

Sindhuja Microcredit secures $14.5m in Series C Funding round

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023