GiftUp, software providers for selling business gift cards online, has partnered with TouchTunes. TouchTunes are the leading providers of digital jukeboxes in bars and restaurants across the US. The partnership involves the companies co-launching a charitable initiative to support establishments affected by COVID-19.
The project involves TouchTunes launching its eGift offering via the Gift Up! software platform. TouchTunes is also donating 25% of eGift sales to the United States’ Bartenders’ Guild’s charity, the USBG National Charity Foundation. The USBG Foundation provides a lifeline for bar staff impacted by the coronavirus crisis. It provides staff with reduced income financial assistance to pay for utility bills, groceries, and other essential living expenses.
Hospitality Sector Hit Hard by COVID-19
The impact of COVI-19 has been felt by all businesses and sectors. Hospitality has been one of the hardest hit by the pandemic, with many businesses forced into closure. Research shows that hospitality, including restaurants and bars, is the second top industry likely to report a negative impact from COVID-19.
TouchTunes eGift Empowering Bars in the United States
The TouchTunes and GiftUp partnership aims to empower bars and restaurants by encouraging customers to purchase its eGift jukebox credits. With jukebox credits in hand, customers are ready to use them and enjoy returning to bars post-lockdown.
As David Rompf, vice president of consumer marketing for TouchTunes, commented in a press statement:
“Our eGift program fulfilled our customers’ desire to instantly send gifts of jukebox credits, which has been a boon during the holiday season and for special occasions. And now our eGifts are making it possible for us to help bar staff who have lost their jobs during the pandemic.”
The initiative is open to any bar in the United States. The establishment does not need to have a jukebox machine, as it can be redeemed through the mobile app as well.
Relieving Cash Flow Issues
Businesses can sign up to Gift Up! and the company will waiver its fee completely for the first $5000 of gift cards businesses issue or sell. This offer will remain until the end of June 2020, when it will be re-evaluated.
When businesses sell a gift card, they get paid 100% of that revenue immediately. By immediately crediting merchants with the total revenue of a gift card on sale, rather than on redemption, Gift Up! is helping negatively impacted businesses relieve their cashflow crisis.