Now with Centz's creation of a universal gift card registry, every gift card, reward and loyalty credit will be changed into a secure and totally mobile form of credit that is portable anywhere with the Centz mobile wallet.
Not all countries have the same regulations which control the sale and use of gift cards, such as Australia where retailers have expiration dates on the cards - something which has been eliminated in the USA. Centz will unlock the value on all unused gift cards and make them a universal method of payment for any goods or services worldwide. Centz provides the method of combining all gift card balances into one spendable lump sum.
The surge in gift card purchases has proved hugely profitable for the retailers that issue them. The Credit CARD Act did not do much to address what happens when the less-than face value of a gift card is used and then, the fractional balance sits in the junk drawer in perpetuity. The sale of a gift card represents an infinite obligation of the retailer under generally accepted accounting principles (GAAP). The SEC and IRS have issued guidelines for retailers to remove these liabilities, and break the "obligation" based on historical redemption rates.
Centz's creation of a universal gift card registry will be blockchain based and represent a chance to reimagine existing businesses, and create new business opportunities.
This is where not only the identity of each gift card holder will be registered, but also where every gift card, reward and loyalty credit will be placed, onto the Centz mobile wallet.
A results driven, senior executive with over 30 yrs of successful experience in a diverse set of industries. Experience in procuring venture capital, contract negotiations, product development for the on-site regulated medical waste industry, wine industry (developed the concept & structure utilized for the first wine hedge fund in the USA), manufacturing and distribution of container and closure products for the food and cosmetic industries. Named inventor on U.S. and foreign patents.
He brings over 14 years' experience in the IT field. For the last 8 years, Mark has worked on products for major digital payments providersincluding Apple Pay, Samsung Pay, and Google Pay. With in-depth experience constructing and utilizing mobile application tap payments and DSRP payment systems, Mark has experience with Java web services and apps dealing with credit card monitoring and settlement, card authorization and fraud settlement.
Brad Barnes is a seasoned, competitive leader with a track record in successfully assisting start-up and high-growth businesses to realize their greatest potential. Brad has been responsible for business development on a global scale and implemented many corporate and financial processes, including a successful IPO in April 2006.
As counsel to a number of Danish and foreign financial undertakings and investment schemes, Jacob advises on a broad range of financial regulatory matters, e.g. cross-border transactions, securities offerings, portfolio transfers, AIFMD/UCITS-matters, and payment services. Furthermore, he has significant experience with complicated company law matters and M&A transactions.