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TMCNet:  As Digital Payments Continue to Surge, Blackhawk Network and Bakkt® Partner to Make it Easier to Purchase eGifts with Digital Assets

[April 06, 2021]

As Digital Payments Continue to Surge, Blackhawk Network and Bakkt® Partner to Make it Easier to Purchase eGifts with Digital Assets

As consumers and merchants accelerate their adoption of digital payment options, Blackhawk Network and Bakkt® have launched a partnership that enables users to easily purchase eGifts using digital assets, such as bitcoin, supported loyalty points and cash.

Blackhawk's industry-leading portfolio of eGift brands enables Bakkt users to buy, send and redeem digital gift cards for everyday shopping using the Bakkt App. Gift cards from over 60 retailers including DoorDash, PetSmart, and major retailers will be available for purchase and for use in peer-to-peer transfer in the Bakkt App. Bakkt's network will drive engagement for retailers and enable consumers to unlock additional spending power from the digital assets they collectively hold.

"Consumers appreciate the versatility of gift cards to convert digital assets into real spending power," said Helena Mao, vice president, global strategy for payments at Blackhawk Network. "Blackhawk is excited to launch this partnership with Bakkt and deliver on our commitment to innovative payment solutions which accelerate the growth of our partners and meet the demands of our customers."

"Today, consumers do not realize or leverage the real value of digital asets, including gift cards, due to the fragmented state of personal finance tools and services," said Bakkt's CEO, Gavin Michael. "Bakkt aims to provide the app, marketplace and payments infrastructure to make all digital assets transactable, and our partnership with Blackhawk Network is a significant part of enabling that flexibility and utility for consumers."

This partnership brings together two innovators with solutions for merchants and consumers in the digital marketplace. Known for being a pioneer in bringing together disparate payments and shopping experiences, Blackhawk is now a driving force innovating tomorrow's digital experiences. The Bakkt App-which requires registration to use-enables consumers to unlock the value of digital assets, including bitcoin, supported loyalty points and gift cards, while giving merchants and loyalty program sponsors deeper customer engagement and a lower cost of payment acceptance. The gift card management functionality within the app allows users to aggregate physical and digital gift cards, check their balances, and buy, spend or send gift cards all from one place.

About Blackhawk Network

Blackhawk Network delivers payment solutions through the prepaid products, technologies and network that connect brands and people. We collaborate with our partners to innovate, translating market trends in payments to increase reach, loyalty and revenue. Serving more than 28 countries, we reliably execute security-minded solutions worldwide. Join us as we shape the future of global branded payments. For more information, visit blackhawknetwork.com.

About Bakkt

Bakkt is a trusted digital asset marketplace that enables institutions and consumers to buy, sell, store and spend digital assets. Bakkt's retail platform, now available through the recently-released Bakkt App, amplifies consumer spending, reduces payment costs, and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018 by Intercontinental Exchange, Inc., Bakkt is headquartered in Atlanta. For more information, visit: https://www.bakkt.com/


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