A Billion NIS Lost in unused vouchers: Gifka to solve Issue

Rosh Hashanah is upon us and there are two things that you can know for sure: we will once again receive shopping vouchers for the holidays from the workplace or family members and once again, we will not use them. The characters will get lost in the mountain of emails, we won't find the code, just when we're at the checkout, we'll be in a hurry and won't have the patience to mess with them, or we'll simply forget about them until they expire. Maybe this year it will be different - the new Gifka app has come to help us with just that. 

Gifka is a digital wallet application that aims to address a global phenomenon called "brakeedge", in which 15% of the value of gift cards, credit invoices and vouchers do not reach realization. In the world this is reflected in consumer damage of hundreds of billions of dollars, and in Israel it is a damage of about a billion shekels per year, which is expressed in hundreds of shekels for the individual consumer.

Instead of the money entering the economy and supporting businesses, it remains with the issuers - the note companies or the brands themselves, who will enjoy a line of net profit that stems solely from our entanglements with the notes. This is exactly where Gifka comes in, as its goal is to help us realize the funds found in notes and vouchers.

So how will it work? 

Gifka came to address the problem by activating four mechanisms that will help us utilize the funds: 

1. One digital wallet, organized and visual where we can store all our vouchers and notes in a memorable and accessible way. 

2. Making clear information available regarding the locations of the respectful stores and their usage restrictions, including contact details and address.

3. Providing usage reminders based on proximity to the store and expiration date, or when it is evident that the user is not using his card.

4. A trading platform where you can sell tickets and notes that we don't need to other users at a 20% discount. 

Eli Elad Cohen, the entrepreneur and owner of Gifka, spoke to "Maariv" and explained, "For a transaction to take place, several vectors need to interface - card, network, location and intention. In situations where there is no meeting between the four parameters - no purchase will occur. Our goal is to map and bring the parameters together These are for the consumer." 

Cohen, 43 years old from Tel Aviv, who has a bachelor's degree in business administration from the University of Florida and an MBA from Tel Aviv University, says: "The need arose for me when I received a NIS 30 voucher from work for coffee and pastries at Roladin. I felt more frustration and obligation than satisfaction and joy - man, NIS 30 for a coffee and a pastry and I need to make sure I'm not being taken advantage of right now, but what am I going to start steering myself to Roladin?" He adds: "I didn't know it would change the course of my life to such an extent, but it's really a small event which turned into lemonade." 

Tips from Gifka for using vouchers, vouchers and gift cards:

1. Did you receive a BUYME voucher? - Ask to change it to "BUYME ALL" which contains 1,000 brands. 

2. Keep a copy of the credit invoice to avoid a situation where the ink is erased and you lose the documentation. 

3. Look in your email and SMS boxes for combinations like "voucher code" and "gift card" and locate lost vouchers.

 4. Prioritize the use of vouchers and notes according to the expiration dates and set reminders.

5. Print the leaflets detailing the list of brands and mark yourself with highlights. 

6. If you don't use your vouchers - share them with family members or sell them online to other consumers. 

7. Download the Gifka app that will do all these and more for you. 

Gifka went live three weeks ago, just in time for the approaching holiday season. Cohen adds: "Rosh Hashanah is an excellent opportunity to do a 'Passover Seder' with our vouchers" and concludes: "The goal is really to catch a real consumer problem of a lot of money and make it fun, something good."