Cardtonic is the best platform to buy and sell gift cards, pay bills, buy gadgets and get virtual dollar cards.
Cardtonic's story is a testament to how a personal struggle led to a creative solution for a wider audience.
It all started when the founder needed to travel and could not use his card to book a flight, he discovered other payment alternatives like using gift cards to pay for these kinds of services. This led to the start of Cardtonic, a unique platform that connects businesses seeking gift cards with individuals holding them.
Cardtonic's initial focus was on facilitating gift card exchange. However, their commitment to understanding their target audience fueled their expansion into launching ‘Just Gadgets' - a section where people can buy affordable and authentic tech gadgets, a virtual dollar card, bill payments, and virtual accounts.
Failed deposits plagued Cardtonic's previous collection system. 'It felt like constant firefighting,' said the Head of Product, “Customer funds were not reaching Cardtonic's accounts, leading to frustration on both ends. Customers expected their money to be available, but these failed deposits resulted in support tickets and escalations with the service provider.”
This constant struggle diverted valuable resources from Cardtonic's core mission – growing its product offerings and user base.
Cardtonic needed a solution that took care of their failed deposit issues and customer dissatisfaction.
Cardtonic found Anchor and completed the integration of the following APIs: Accounts API, Payments API, and Transfer API which allows their customers to create virtual accounts, and send and receive money with ease.
Effectively, Cardtonic moved from dealing with failed deposits to enjoying a smooth collections process with instant settlements.
For Cardtonic, here's how Anchor's solutions made a significant impact:
Eliminated Collection Frustrations: No more back-and-forth with unreliable providers! Anchor's seamless system ensured smooth collections, leading to happier customers.
Frictionless Funding: With Anchor's APIs, Cardtonic customers can create free virtual bank accounts and instantly deposit funds into their Cardtonic wallets. This convenience eliminates delays and keeps cash flowing.
Compliance Made Simple: Anchor's KYC expertise helps Cardtonic stay compliant. This frees up resources so they can focus on core business activities.
Smooth Integration and Ongoing Support: The integration with Anchor took only a few days and their technical needs are catered to by a dedicated support team.
Cardtonic is not your average fintech company. They saw an opportunity where most wouldn't with unused gift cards and by leveraging Anchor's robust infrastructure and support, they have their sights set on expansion across Africa.
Whether you're a start-up or an established company, at Anchor, our suite of APIs empowers you to build, launch and scale your compliant financial solutions.
Contact us at hello@getanchor.co, we would love to hear about what you are building and how we can support you.