Rich Lister’s tech venture cashes in on gift card boom

Prezzee’s technology overcomes the hassle consumers faced by losing or forgetting their gift cards when going to the shops. But it also captures a growing trend for consumers to shop online, for both gift giving and purchases. Via its app, consumers can buy, send and store eGift cards from a range of retailers.

It also sells a Smart eGift Card allowing the gift recipient to choose from a suite of big name retailers they want to spend their gift card with.

Mr Bonett said a forced shift in consumer spending driven by the COVID-19 crisis was helping drive demand for Prezzee’s Smart eGift card. It has accelerated a shift already occurring through online shopping growth and a trend for consumers to make more environmentally friendly choices.

The gift card market is worth about $6 billion and Prezzee claims to hold a 5 per cent share. Other providers include global tech

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