A new company called GiftRocket could be the next big revolution for the travel industry.
It may only be two weeks old, but GiftRocket is breathing new life into gift cards.
They have set up a location based electronic gift card that could help drive ancillary sales.
The idea is simple. A sender can sign on to the GiftRocket website and send any amount of money they want in an electronic gift card.
The card is delivered to the specified recipient who is notified they have been sent a gift.
To collect the money, the recipient has to go to a location specified by the sender.
This can be anywhere in the world.
Once they are there, the recipient simply clicks the redeem button which automatically forwards them the money.
This allows businesses to drive customers toward ancillary purchases.
It also has the potential to allow companies to track the success of a customer rewards campaign.
GiftRocket Founder, Kapil Kale said the idea is to make gift cards more versatile and user friendly.
“We want to replace gift cards,” he said.
“We have some limitations to our product but already we have overcome so many of the disadvantages of regular gift cards.”
“Our gift cards are digital and based on email so we just send people reminders every month or so and let people set their own reminders for when they want to use them so they will never forget.”
“We don’t have expirations on the cards and we don’t have hidden fees.”
“We just charge a service fee up front that’s about it.”
Currently, GiftRocket only supports U.S. currency, but they are working to expand their reach.
The company already supports any location listed on Yelp. This includes businesses in London, Paris and Amsterdam.
GiftRocket is also working with the start-up funding company, Y combinatory to grow their business.
The company may only be a small start-up, but it offers huge potential for the travel industry.