Gifting Platform Swych To Start Accepting Payments In Crypto

Swych, a Dallas-based online gifting platform, announced to be supporting cryptocurrency payments starting next week. The platform will allow users to use five cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ethereum Classic according to their official statement that reached our blockchain news today.

Swych was established in 2015 by Deepak Jain and is backed by a money transfer exchange from the UAE exchange group and payment solutions provider. The gifting platform allows users to buy and send gift cards virtually from about 500 retailers including Amazon, Banana Republic, Best Buy, Old Navy, Gap, Target, Nike and many more.

Also, if some of the users don’t like the brand of the gift card they received, they can switch it with the brand they preferred and would like to use. The platform also allows users to swap virtual funds of the received brand with a brand of the users’ choice. In the official announcement, Deepak Jain said that the good thing about accepting crypto payments is the huge step forward in regards to other competitors:

 “We feel we are ahead of the game considering most retailers have not yet chosen to accept crypto payments.”

Also, Deepak claimed that the company had tons of requests to start accepting cryptocurrency and this is one of the reasons they decided to listen to their customers:

 “In keeping with Swych’s mission of providing our consumers with choice and flexibility, we’d like to provide new options based on our customers’ needs — crypto integration is one of the many requests we’ve received.”

Other online platforms are also joining the crypto bandwagon such as online dating platforms and other online purchasing apps.