Apparel startup UNTUCKit is partnering with global payments provider Blackhawk Network to grow its gift card program into malls and supermarkets.
“As more states reopen and people trickle back to work and social gatherings, many find themselves in need of a wardrobe refresh,” Aaron Sanandres, CEO and co-founder of UNTUCKit, said in a press release on Thursday (June 17). “We expect demand to grow steadily as Americans start to live their lives again — and Father’s Day may be a catalyst that enhances that demand.”
Blackhawk will issue UNTUCKit’s physical and digital gift cards and distribute them to brick-and-mortar stores and online gift card malls. The company also will handle customer service for the gift card program. The cards will range from $25 to $250 and can be used at UNTUCKit’s 86 retail locations as well as on its website.
A survey conducted by Blackhawk showed that 76 percent of respondents are planning to give more gifts now that pandemic lockdowns are being lifted. Some 79 percent of those surveyed are also anticipating they will spend more on gifts.
Brett Narlinger, head of global commerce for Blackhawk Network, said that as people venture out and “spend big,” it’s important that brands have a flexible “two-pronged gift card program” in place.
“Meeting consumers where they are — whether in-store or online — is a must for brands looking to optimize customers’ brand experiences, nurture growth and drive loyalty,” Narlinger added.
Blackhawk Network is one of the top issuers of gift and prepaid cards, according to the press release.
UNTUCKit was co-founded in 2011 in New York City’s SoHo by Chris Riccobono and Sanandres, who serves as CEO. The startup apparel company is known for designing men’s shirts made to be worn untucked. The brand has since expanded and offers a cross-section of clothing for men and offers shorts, dresses, and blazers for women.
Blackhawk Network CEO and President Talbott Roche told PYMNTS CEO Karen Webster in April that gift cards are an “on-ramp to the digital payments highway for consumers.” She said gift card rails are a seamless way to transfer funds in both B2C and B2B contexts.
Mastercard and Unipaas partnered to help the providers of vertical software-as-a-service (SaaS) platforms embed modern card processing capabilities.
The collaboration aims to digitize and streamline transactions in industries where digital payments remain underused, including health services, education, field services and professional training, the companies said in a Thursday (April 3) press release.
“Many [small- to medium-sized businesses (SMBs)] using vertical SaaS platforms today still rely on manual, offline payment methods, causing inefficiencies, poor user experiences and lost revenue opportunities,” Unipaas founder and CEO David Avgi said in the release. “Our partnership with Mastercard is about changing that.”
By embedding modern card processing capabilities into the platforms used by these SMBs, this partnership will help providers transition their platforms’ users from manual invoicing and bank transfers to card-based payments, improve acceptance rates and transaction speed, reduce operational complexity and overhead, and offer payment options that are more convenient, secure and user-friendly, according to the release.
The collaboration brings together Unipaas’ fully embedded, compliant payment infrastructure and Mastercard’s global payment network and fraud protection, per the release.
“By leveraging our extensive global network and advanced fraud protection, we are enabling [SMBs] using SaaS platforms to enhance their payment experiences, improve acceptance rates and unlock new opportunities,” George Simon, executive vice president of market development at Mastercard, said in the release. “Together with Unipaas, we are empowering [SMBs] using software providers to scale their operations and drive business growth with confidence.”
Embedded finance creates a more streamlined, user-friendly experience and makes payments smooth and accessible, Jennifer Marriner, executive vice president of global acceptance solutions at Mastercard, told PYMNTS in an interview posted in July.
“The future of commerce is at the intersection of new technology and digitization,” Marriner said.
Optimizing the payment process ensures a streamlined experience for platforms, vendors and customers, and opens up a new revenue stream for the businesses that want to own the payment experience, Avgi told PYMNTS in an interview posted in 2021.
“Companies will be the owner of the payment experience,” Avgi said. “They control the flow of funds, and they can monetize payments.”
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