CARDYARD: FINTECH Company Pivots from Plastic in COVID-19



Money-saving platform, Cardyard, is leading the way in changing how we use gift cards, offering a service that switches physical plastic cards into digital vouchers.

The UK’s number one gift-card exchange had big plans for 2021, including transforming the 2nd user gift-card market to digital. Like many fin-tech firms, the recent COVID-19 pandemic has given them the drive to shift forward their timetable by 12 months

This initiative comes as part of an effort to reduce the amount of physical handling that cards go through before they get to the customer.

By cutting down physical contact with cards for customers, Cardyard is eliminating extra journeys and contact which might be the source of unnecessary risk in the current COVID-19 Pandemic.

Cardyard works by buying unwanted or unused gift-cards either for cash or Cardyard credit. After running the cards through rigorous security checks, the cards are sold to people looking to bag a bargain or swap out an unwanted birthday present for something more useful.

Using an e-gift builder the card exchange can convert physical gift-cards into digital formats, available to use across a range of online retailers and services. Digital cards can be used with Amazon, Netflix, Tesco, Asda, and a range of other retailers, including mainstream fashion brands such as Next and New Look.

Mike Hayman, founder and managing director of Cardyard, said: “This is a tricky time for everyone. Cardyard has always helped people to save money, whether that is getting cash off the weekly grocery shop, or a more unique purchase like shoes or jewellery.

“Now, more than ever before, money is tight. We wanted to continue to provide our service but in a way that was sensible and safe. Digital vouchers mean that we can keep saving people money without putting anyone at risk.”

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Background - Cardyard

In 2014, Mike Hayman needed to sell some unwanted eVouchers, but there was no safe way to do so in the UK. Fast forward 6 years, Cardyard is the only gift card exchange in the UK, processing thousands of gift cards a week worth millions of pounds a year.

Mike is a technology entrepreneur who stays the course, having spent 20 years building data analytics company Blueprint Management Systems before selling to itelligence in 2012 for an undisclosed 7 figure sum.

Cardyard now provides Mike with plenty of challenges including anti-fraud, cyber security, value pricing, and customer services.

“A large portion of the population holds unwanted gift cards and want to trade them before they expire. Another group of people want to save money and are prepared to pay up front for free cash. Cardyard enables both groups to get what they want in a safe environment. Technology makes it easier to trade online all the time, but it also allows threats to emerge, and that’s why its so important to have a trusted and secure service we can offer the public."

Cardyard works on mobile, PC and iPad, and was developed over 5 years using specialist technology including high level encryption and anti-fraud algorithms. Development work continues to keep pace with technological improvements and commercial opportunities.

7th of July, 2020More blog posts