Storecheq Innovation Pvt. Ltd. today announced the launch of India’s first GiftTech platform – Aimed at disrupting the $40bn gifting market in India, which is almost predominantly cash based. Storecheq provides a digital gifting currency, which is universally acceptable across hundreds of retail & online brands. With Storecheq, you can now, Gift and Redeem instantly on the web.

Storecheq is the Digital Currency of Gifting for the mobile enabled Indian and offers an easy system of gifting, which is trusted, universally acceptable, offering great choices, and delivering delight to customers.

Storecheq is useful for anyone who wants to give a gift of choice to his family or friends for any occasion such as birthday, anniversary, weddings, etc in any convenient denomination. The service is entirely free for the sender and the receiver.

Storecheq is also useful for corporates/businesses who have a need to reward their employees, create employee recognition & motivation programs, business gifting, run sales incentive programs for dealers, as well as, run consumer promotions. Storecheq offers a convenient enterprise application through which businesses can easily manage all the above programs using Storecheq gift cards.

Announcing this, Vivek Gupta, Co-Founder & CEO, Storecheq said, “Gifting, despite being USD 40 billion industry in India and growing at 30% annually, is plagued with inefficiencies and age old processes. Storecheq’s innovative GiftTech model aims to unlock and enhance the experience in gifting in a manner similar to how Fintech companies are revolutionizing monetary transactions. Over the last 3 months, we have seen wide acceptance by Corporates, who have discovered the enormous advantages of using Storecheq for their employee rewards & business gifting programs.

We will be shortly launching our merchant gift card feature, which will allow any retailer to start a gift card program for his business. Our vision is to empower every retailer with gift card technology and bring an amazing choice of redemption options to our customers, including their neighborhood stores.”

Initially, Storecheq has partnered with over 100 leading retail & online brands across India and is working to expand this network. The company will be partnering with fin-tech platforms, retailers and e-commerce players to offers best gifting experience to its customers.

The company is all set to take the Government of India’s objective of a Cashless Economy in the gifting space. Department of Industrial Policy and Promotion (DIPP) has recognized Storecheq in Startup Indiafor its innovative and creative model in gifting space.

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