Digigifting
When Chennai based Sreenath TP completed 10 years at an IT MNC last year, the company gave him an HDFC Gift Plus card. "Earlier, we used to get food coupons or other merchandise as gifts," he says. A digital gift card with pre loaded cash is much more "handy, offers wider options for redeeming, and has better security features". It worked "like an ATM card, had a PIN and could be used at all Visa merchants".
Like Sreenath's employer, many companies have started distributing digital gift cards for rewarding employees, festival gifting and giving incentives to channel/sales partners. These cards are also becoming a trend in the personal gifting space.
The format of digital gift cards is similar to that of debit and credit cards. They have a PIN, a 16 digit card number and a CVV number generated in real time. They can be purchased and delivered over SMS, WhatsApp or e mail. "The demand is growing among businesses. Our studies reveal 70 per cent employees prefer to receive rewards and incentives through digital gift cards rather than traditional
