Swych Expands International Footprint into $698B Global Gifting Market, U.S. Users Can Now Send Instant Digital Gift Cards to Friends and Family in India
Following its recent acquisition of GiftCardsIndia.com, Swych launches platform in the U.S., allowing users to send and “swych” locally relevant gifts from hundreds of Indian brands including Big Bazaar, Flipkart, Myntra, and more
Dallas, TEXAS, August 2, 2018 — Following its recent acquisition of GiftCardsIndia, digital gifting platform Swych has launched the trusted and widely used gift card service in the United States for instant cross border gifting to India. Swych users in the U.S. are now able to send personal digital gift cards instantly to friends and family across India and choose from hundreds of well-known and popular, locally relevant retailers such as Big Bazaar, Flipkart, Myntra, and more. This expansion significantly increases Swych’s mobile gifting capabilities on an international scale and marks the first step in the company’s global plan to facilitate mobile gifting for users across borders worldwide.
CEO and Founder of Swych, Deepak Jain, said “By launching GiftCardsIndia.com in the U.S., we are addressing a large market demand from the Indian diaspora here. Now anyone can easily send their favorite gift card from their mobile phone to their loved one’s mobile phone in India. The process takes less than 30 seconds, the gift is delivered instantly and is guaranteed to be perfect because the recipient can ‘swych’ it for another retailer they prefer, making sure they can always get exactly what they want, when they want it.”
The global gifting market is estimated to be worth USD $698 billion with India expected to be one of the largest markets by 2024. Swych endeavors to tackle the existing issues within this growing market, allowing users not only the convenience of digital gift cards, but also the freedom to “swych” or select an alternate gift card from an extensive list of brand options. The current cross-border gifting options for consumers are limited, including direct money transfer, plastic gift cards from limited brands, or sending perishables or flowers from local gifting firms that may or may not arrive on time. With Swych, gifting is instant. With a growing list of nearly 500 retailers — from Big Bazaar to Zappos — today’s launch of Swych GiftCardsIndia adds even more retailers to the Swych network. Swych gifts can also be split into multiple gifts, or re-gifted to another recipient. Transactions are highly secure and free of fees; users only need a valid mobile number in order to send gifts, making the process of gifting seamless and accessible.
Jain added, “Existing cross-border gifting options are either costly or inefficient. When sending cross-border gifts, consumers and businesses need to manage liability, foreign exchange and customs, as well as regulatory and compliance issues which are complex and time consuming. We’re proud to offer our users a convenient, secure, and fee-free alternative to this emerging ecosystem, all while simultaneously working to facilitate ease of accordance with changing regulatory and compliance requirements.”
Swych has pioneered the creation of globally “swychable” digital gifts that integrate seamlessly within mobile banking, messaging, conversational commerce, rebate, check disbursement, and loyalty platforms to drive customer acquisition and increase engagement. Swych is focused on fostering global connections between retailers, customers, and businesses in order to create an autonomous global gifting network.
Swych also offers a gifting app within the U.S. domestic market which is available for download on iOS and Android. GiftCardsIndia also offers a gifting service within the Indian domestic market which is available at http://www.giftcardsindia.in. For more information, please visit http://goswych.com.
Swych’s patent pending mobile gifting platform enables users to send “swychable” gifts from their mobile device that can be instantly redeemed for electronic gift cards from more than 600+ popular brands. Swych users can instantly buy, send, re-gift, upload, “swych” and redeem gift cards conveniently from their mobile device. Swych is a private company funded by seasoned angel investors from banking, financial services, payments, gifting, telecom and enterprise computing space.
GiftCardsIndia, recently acquired by Swych, provides consumers and businesses with a reliable, efficient and high-quality source of the widest selection of gift products from the top brands in India. GCI has successfully operated a robust aggregation and distribution network for gift cards and has been serving millions of consumers, enterprises, loyalty platforms and wallet operators in the Indian market.