Openbucks is an alternative payment gateway founded in 2010 and based in Silicon Valley. It was acquired by payment processor Paysafe Group in July 2020 for an undisclosed amount of money.[1][2]

The Openbucks platform enables online merchants to accept cash and retailer gift cards as a form of payment. Consumers can redeem, like cash, the branded gift cards of major U.S. and Canadian retailers directly at a merchant’s checkout as an alternative to credit card payments.

History

Foundation

Openbucks was founded in 2010 by the current CEO, Marc Rochman. The company participated in TechCrunch Disrupt in 2011 to showcase its payment platform.[3][4]

References

  1. ↑ "Paysafe To Buy Openbucks and other Digital Transactions".
  2. ↑ "Paysafe Card Added as a Payment Option in Microsoft Store".
  3. ↑ Openbucks. "Openbucks Launches the Gift Card Payment Network". www.prnewswire.com. Retrieved 2020-07-23.
  4. ↑ "Gift Card Payment Network Openbucks Raises $4.8 Million Series A, Led By Yahoo Co-Founder Jerry Yang". TechCrunch. Retrieved 2020-07-23.
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