Recharge has introduced a pilot B2B initiative that facilitates the corporate distribution of prepaid items, allowing companies to provide gift and prepaid cards to their workforce for recognition and motivation purposes, as reported by Retail Technology Innovation Hub.
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GLORecharge has introduced a pilot B2B initiative that facilitates the corporate distribution of prepaid items, allowing companies to provide gift and prepaid cards to their workforce for recognition and motivation purposes, as reported by Retail Technology Innovation Hub.
In response to a query from PYMNTS, Recharge has not yet provided a comment on this matter. According to Günther Vogelpoel, CEO of Recharge, this novel initiative reflects the company’s dedication to addressing the changing demands of businesses. Vogelpoel pointed out that the global corporate gifting sector expanded to $242 billion in 2021, underscoring the necessity for solutions akin to Recharge’s offerings.
The catalog of Recharge encompasses over 15,300 items from more than 800 worldwide brands. Through this freshly established service, enterprises can pick from this array of products to present to their staff members. Vogelpoel expressed enthusiasm regarding the company’s initial steps in this domain, aiming to provide an efficient and economical avenue for corporate gifting. He sees this as a chance to develop and expand Recharge’s capabilities in this sphere.
Last October, Recharge revealed its intentions to launch a global marketplace that would present digital branded gift cards and mobile top-ups. Although the initial focus was on consumers, the company claimed that the platform would serve as a comprehensive destination for various gift cards and branded payment cards spanning categories such as retail, credit, gaming, entertainment, and cash cards. This approach assists consumers in managing their finances, as they can only spend the amount loaded onto their cards. Vogelpoel emphasized the company’s pride in offering a diverse selection to a broad global audience while emphasizing the significance of safeguarding personal information online.
The efficacy of gift-giving in terms of cost and benefits varies, yet &Open, a global corporate gifting enterprise, reported that clients experienced a 12% rise in revenue after six months of implementing gifting strategies. Jonathan Legge, Co-Founder and CEO of &Open, noted in an October discussion with PYMNTS that gifting intuitively yields positive outcomes, fostering loyalty and ultimately improving profitability.
Source: PYMNTS
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