Chase checking account customers in the US can now send digital gift cards to other US residents instantly using the Chase mobile app or Chase.com. All that’s required is a recipient’s email address.
“Our digital gift cards make it more personal than sending a person-to-person payment,” said Prashant Gandhi, head of digital payments for Chase.
Handy gifting features
The new gift card service is free to send for Chase customers and offers several features that consumers will enjoy, including:
- gift cards in $5 denominations up to $100 with no additional fees
- choice of 60 retailers including Whole Foods, Domino’s, AMC Theaters, Panera Bread, The Home Depot, Sephora and Starbucks
- personalized messages to recipients
- scheduling in advance so you don’t miss a gift occasion
- tracking of gift cards and value sent
- sending from Chase mobile app or Chase.com customer account.
The e-gift card is immediately available for recipients to spend directly from their email by scanning a barcode at checkout or entering a digital code online.
Chase said it plans to continue improving the e-gift card features in the months ahead.
Gift card facts
Here are a few e-gift card industry facts from Giftcards.com:
- total (digital and physical) global gift card sales are expected to reach $698.2 billion by 2024
- sales are growing at 10% annually
- 25% of gift cards are digital and 75% of gift cards are physical cards
- 65% of consumers spend more than gift card value
- 58% of shoppers like receiving gift cards and 55% are interested in receiving digital gift cards
- 60% of 18- to 34-year-old consumers surveyed would be interested in receiving a gift card through a social platform, like Facebook, and 54% would be interested in giving one
- nearly half of consumers surveyed (42%) have purchased e-gifts for both gifts and self-use.