PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
20% of the transactions are processed via the Giftly mobile app.
An electronic gift exchange that consumers can use to send funds that can be used at any store that accepts credit or debit cards is extending online social interaction a step further. Giftly, the company behind the exchange, says consumers now can use its e-commerce site or mobile app to send funds via Facebook.
Giftly is an electronic gifting platform that sends a gift giver’s funds directly to the recipient’s credit, debit or prepaid card. Senders can specify a location to use the funds, but recipients can use the money wherever they like, Giftly says.
To send a Giftly, a consumer uses the web site or app to select a recipient from her Facebook friends, phone contacts or Giftly members list. Then the consumer chooses an image or location to make the gift more personal and selects the recipient and amount. Gift amounts can range from $3 plus a $1 fee to $250 plus an $8 fee. Consumers enter their payment card data to fund a gift.
Senders also can write a note to send along with the gift. Electronic delivery is via text message, e-mail or a Facebook wall post. Senders also can print the gift message or request Giftly to mail it.
Once notified of the gift, a recipient clicks the link in the text, e-mail or Facebook post. He must create a Giftly account to accept the funds, and then Giftly credits the gift amount to the bank or payment card account he has designated.
Giftly users who log in to the app using Facebook also can use the app to view Giftly members’ check-ins and birthdays.
20% of Giftly transactions are processed via the app, a Giftly spokeswoman says. The rest are via the web site. Giftly sold approximately 25,000 gifts in the fourth quarter of 2012 and the first quarter of this year, equating to about $1.5 million in volume, she says.
Giftly works with Fuze Network, which provides the payment network for transactions made via Giftly. Fuze Network’s platform accepts 99.9% of all bank-issued U.S. credit, debit and prepaid cards, enabling anyone with a bank card to send and receive a Giftly, the spokeswoman says.