I would like the community thoughts on this as we are in the secondary gift card space.We are "ATTEMPTING" to build a payment processing system similar to stripe but for gift cards where payment processors can augment their payment processing capabilities through the use of gift cards or merchants directly can integrate our service to accept gift cards as a form of payment. IE an end user can pay for an item or service say with a walmart or best buy gift cards. We already have the ability to do instant balance verification for gift cards. What do you guys think about this?
1. Why would I want my store to accept payment with someone else’s gift card?<p>2. What consumers want this?<p>3. How do you make money?<p>4. Balance verification seems a bit easier than balance transfer. The stores issuing gift cards make a fair amount of money in interest on those card balances. Cooperating with you and other stores might result in a loss of net interest income.
Beware of the use of the gift cards for credit card fraud. For example see <a href="https://news.ycombinator.com/item?id=7501821" rel="nofollow">https://news.ycombinator.com/item?id=7501821</a> (51 points | Mar 31, 2014 | 54 comments)