properties of digital
vouchers and gift cards.
Secure – Flexible – Personalised.
VOUCHAIN provides a decentralized infrastructure for shopping centers and retailers,
facilitating voucher issuing and management, leading to tangible benefits and
cost-efficiency throughout the entire value chain.
The problems of contemporary vouchers & gift cards
Vouchers come with security risks
Vouchers are not bound to any financial industry standards for activation, tracking, and use.
Vouchers are anonymous, untraceable, and inflexible
Vouchers provide no means for personalisation
Voucher solutions are uneconomic
Average costs for voucher management are significantly high.
Clearing of payments/invoicing between shopping centres and retailers are highly inefficient.
Some examples for voucher/gift card fraud:
Asking for a voucher instead of a refund or exchange
Taking over customer accounts & buying gift cards
Buying online gift cards with stolen payment data
Hacking the retailer to steal the pre-issued gift card numbers in bulk
Hacking stolen credit card and loyalty accounts to convert points into digital gift cards+
“We provide a full-scale solution that eliminates the security risks of conventional voucher systems, and reduces the efforts of voucher management to a minimum for the retail industry”.
The global market for vouchers & gift cards is significant!
The global voucher/gift cards market was $750 Bn in 2020, and it is expected to reach $1,787 Bn by 2028, considering a CAGR of 11-15%. This includes all voucher card types (open and closed loop) and all distribution channels, and all sectors.
“With the unprecedented COVID-19 health crisis, the demand for vouchers and gift cards has experienced significant growth, owing to limited use of cash payments in the market. In addition, as consumers have increased the usage of more effective & secured payments for shopping online, the key players have an opportunity to implement better product offerings by providing discounts for gift cards, during the pandemic situation.”
VOUCHAIN focuses on both open and closed-loop vouchers in the retail establishment. We project this not only to be as one of the most lucrative segments in the voucher market, but we envisage that closed- and open-loop vouchers will evolve or converge to “hybrid-loop vouchers”, combining the best of both worlds
(VOUCHAIN Consortium 2021)