Openbucks Explained

Openbucks is an alternative payment gateway founded in 2010 and based in Silicon Valley. It enables online merchants to accept cash and retailer gift cards as a form of payment. Consumers can redeem, like cash, the branded gift cards of major U.S. and Canadian retailers directly at a merchant’s checkout as an alternative to credit card payments. The company participated in TechCrunch Disrupt in 2011 to showcase its payment platform.^{[1] [2]}

Openbucks was acquired by payment processor Paysafe Group in July 2020 for an undisclosed amount of money.^[3]

Notes and References

1. Web site: Openbucks. Openbucks Launches the Gift Card Payment Network. 2020-07-23. www.prnewswire.com. en.
2. Web site: Gift Card Payment Network Openbucks Raises $4.8 Million Series A, Led By Yahoo Co-Founder Jerry Yang. 2020-07-23. TechCrunch. en-US.
3. Web site: Paysafe Card Added as a Payment Option in Microsoft Store.