Etsy, a popular website where consumers can purchase handmade and vintage goods, was recently honored in the seventh annual Paybefore Awards for its custom gift cards.
The vendor’s custom gift cards won in the category for Most Effective Closed-Loop or RAN Prepaid Card Program. This victory gives Etsy the chance to go on to win Best-in-Category in March at the Prepaid Expo, where Paybefore will be holding a ceremony for its honorees.
“It’s a dynamic time in electronic payments as companies like StoreFinancial, Etsy and University National Bank continue to innovate to solve payments problems,” said Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel. “We are proud to recognize their contributions to advancing the prepaid and emerging payments industry.”
Etsy has only been offering custom gift cards as part of its services since late 2012, but they have already proved to be a popular item. According to a January 2013 update provided by the company, $1.9 million dollars worth of these purchase options have been sold.
The Next Web specified that the cards can only be purchased with United States credit cards, and that, while they can be used at many of the small businesses that make up Etsy’s network of vendors, they can only be used at stores that have enabled a direct checkout option. The source also noted that Etsy gift cards can be used on mobile devices, through channels such as the Etsy iPad app.Back To Blog