Openbucks

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

Openbucks enabled online merchants to accept cash and retailer gift cards as a form of payment from consumers who do not have bank accounts, credit cards, or prefer to pay cash online to protect their privacy and financial information. By using Openbucks, 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.  

With 60,000+ locations in their network, consumers can buy readily available gift cards or present a barcode at the POS to reload an account, making Openbucks the largest and safest alternative cash payment provider in North America. Their partnerships include CVS Pharmacy, Dollar General, and MoneyGram in the U.S., Canada Post in Canada, and Pacific Coffee in Hong Kong. Openbucks services over 2,000 merchants directly such as BigPoint, Plarium, Razer, Wargaming and more or via payment service providers and aggregators such as Xsolla and Paymentwall, G2APay and more.[3][4][5][6]

History

Foundation

Openbucks was founded in 2010 by current CEO, Marc Rochman. The company participated in TechCrunch Disrupt in 2011 to showcase their payment platform.[7][8]

Awards

2011 FortyThree Awards - Best Internet Cash Service

2012 PayBefore Awards - Best in Category Prepaid Gaming Card [9]

2013 Tie50 Award - Silicon Valley Top Startup [10]

2015 Tie50 Award - Silicon Valley Top Startup [11]

Mission

Founded in 2010, Openbucks envisions a world where online payments are affordable, safe and available to the millions of consumers who are excluded from e-commerce because they do not use credit cards or bank accounts.

References
  1. https://www.digitaltransactions.net/paysafe-to-buy-openbucks-and-other-digital-transactions-news-briefs-from-7-27-20/. Missing or empty |title= (help)
  2. https://www.financemagnates.com/fintech/payments/paysafe-card-added-as-a-payment-option-in-microsoft-store/. Missing or empty |title= (help)
  3. Openbucks. "Openbucks Partners with Bigpoint to Provide Gamers with an Alternative Online Payment Option". www.prnewswire.com. Retrieved 2020-07-23.
  4. "Xsolla and Openbucks Unite to Provide North American Customers with a Revolutionary Payment Option for Online Video Games". PRWeb. Retrieved 2020-07-23.
  5. "G2A PAY partners with Openbucks".
  6. "New payment possibility for Canadian users".
  7. Openbucks. "Openbucks Launches the Gift Card Payment Network". www.prnewswire.com. Retrieved 2020-07-23.
  8. "Gift Card Payment Network Openbucks Raises $4.8 Million Series A, Led By Yahoo Co-Founder Jerry Yang". TechCrunch. Retrieved 2020-07-23.
  9. "Openbucks Named Best-In-Category Winner in Sixth Annual Paybefore Awards - Press Release - Digital Journal". www.digitaljournal.com. Retrieved 2020-07-23.
  10. "Openbucks Winner of 2013 TiE50 Awards, Recognized as One of the Hottest Technology Startups". PRWeb. Retrieved 2020-07-23.
  11. "Openbucks Winner of 2015 TiE50 Awards, Recognized as One of the Best Technology Startups among over 2700 contestants". PRWeb. Retrieved 2020-07-23.
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