Loop Commerce helps retailers offer better gifting options.

Loop Commerce’s GiftNow, an e-gifting platform, was named the Most Innovative Payments Player at the Innovation Project’s 2017 Innovator Awards. GiftNow won first place and Gold Medal in the category. Nominees included Amazon, Facebook, Venmo, Alipay and Zelis Payments.

The platform allows for a personalized gift-giving experience for consumers who can send gifts through online merchants by supplying the recipient’s e-mail address. Recipients accept the gift and customize it with personal preferences by selecting desired size, style, color or exchanging the gift, all before the item is shipped to its designated address.

GiftNow’s streamlined shopping experience, checkout and delivery of gifts is used by Bergdorf Goodman, Coach, Saks Fifth Avenue, Neiman Marcus and Macy’s, among others. The software-as-a-service (SaaS) solution offers a zero-integration implementation that drives incremental sales, reduces costly returns, exchanges and shipping costs, while improving customer acquisition and loyalty.

Shopping online e-commerce

Consumers crave a more personalized online shopping experience.  Shutterstock / Maxx-Studio

Roy Erez, the chief executive officer and cofounder of Loop Commerce, said, “Four years ago, we embarked on a mission to redefine how consumers buy and receive gifts online, challenging the fundamentals of how commerce operates and overcoming the obstacles associated with these type of purchases, to benefit the industry as a whole.”

“The commerce, retail and payment industries are experiencing the beginning of a behavior shift in consumer gifting, as well as the birth of a new type of online transaction that benefits consumers, merchants and payment providers alike. During this time of significant transformation, we are truly [pleased] to receive such a prestigious industry award,” Erez added.

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