Buyhatke launches card sharing platform, UseMyCards

Buyhatke announced the launch of ‘UseMyCards’, which it claims is the world’s first and only credit/debit card sharing platform.

UseMyCards is an innovative concept introduced in India for the first time by the Founders of Bitbns, cryptocurrency exchange. It allows debit / credit card holders to offer best of the deals available on their cards to interested online shoppers.

UseMyCards is for both buyers and card holders wherein buyers get superior deals available on select cards whereas cardholders earn points and rewards on their unutilized or underutilized cards. It is completely safe as the cardholders never need to give any of their card details and the money is held in escrow till the product is delivered to the buyer. It’s instantly settled to the cardholder once the buyer confirms the receipt, the press statement said.

For example: Say there is 15000 phone and 10 percent discount on Axis bank card. You as a buyer do not have Axis bank card. You can pair with someone who has an Axis card and he would order it for you. You save Rs 1500. The cardholder also earns the reward point on purchase through the card, it added.

UseMyCards has many categories like e-commerce, food delivery, utility bills, ticket purchase etc. The platform’s technological infrastructure enables seamless transactions with safety and security. Within a short span of its launch, UseMyCards has achieved a GMV growth of 1200 percent during the Republic Day sale, it said.

Prashant Singh, Founder and CTO, UseMyCards, said, “UseMyCards does away with the requirement of consumers having to own multiple cards to avail the best deals. I believe, sharing economy is the future and the massive surge in our consumer base during the ongoing sale is a testimony to the fact that Indian buyers are appreciating this innovative concept.”

The top three product categories bought by UseMyCards’ customers during the Republic Day Sale are mobiles, fashion and home appliances. The average value of transactions on the platform is Rs. 5,400 it said.

Published on: Friday, January 28, 2022, 12:45 PM IST