Buyhatke launched ‘UseMyCards’, World’s first and only credit/debit card sharing platform. During the Republic Day Sale on leading e-commerce platforms such as Amazon, Flipkart, Myntra etc. UseMyCards witnessed a whopping 820% rise in customers shopping through its website. The number of online transactions also saw a sharp rise of 1060% during the same period.
UseMyCards is an innovative concept introduced in India for the first time by the Founders of Bitbns, country’s leading cryptocurrency exchange. It allows debit / credit card holders to offer best of the deals available on their cards to interested online shoppers.
UseMyCards is a win-win scenario for both buyers and card holders wherein buyers get superior deals available on select cards whereas cardholders earn points and rewards on their unutilized or underutilized cards. Usemycards is completely safe as the cardholders never need to give any of their card details and the money is held in escrow till the product is delivered to the buyer. It’s instantly settled to the cardholder once the buyer confirms the receipt.
For example: Say there is 15000 phone and 10% discount on Axis bank card. You as a buyer do not have Axis bank card. You can pair with someone who has an Axis card and he would order it for you. You save 1500 INR. The cardholder also earns the reward point on purchase through the card.
UseMyCards has many categories like e-commerce, food delivery, utility bills, ticket purchase etc. The platform’s superior technological infrastructure enables seamless transactions with utmost safety and security. Within a short span of its launch, UseMyCards has achieved a GMV growth of 1200% during the republic sale.
Prashant Singh, Founder and CTO, UseMyCards, said, “We are here to redefine consumerism in India. UseMyCards does away with the requirement of consumers having to own multiple cards to avail the best deals. I believe, sharing economy is the future and the massive surge in our consumer base during the ongoing sale is a testimony to the fact that Indian buyers are appreciating this innovative concept. Best deals and discounts captivate online shopping and together with our price comparison website, Buyhatke, UseMyCards is here to make shopping experience more memorable for customers.”
Top three product categories bought by UseMyCards’ customers during the Republic Day Sale are mobiles, fashion and home appliances. The average value of transactions on the platform is Rs. 5400.