Canonical URL: https://giftcard.news/research-trends/tendercard-gift-card-processing-revenue-first-half-2026/ --- description: Kindcard reports USD145,433 in six-month gift-card service fees, while lower expenses narrow the parent company’s loss. title: Tendercard gift-card processing revenue falls 17.3% in first half image: https://giftcard.news/images/social/v1/tendercard-gift-card-processing-revenue-falls-17-3-first-half-36301947d40466e776838696f31ef7d9.jpg --- 1. [Home](https://giftcard.news/) 2. [Research & Trends](https://giftcard.news/research-trends/) # Tendercard gift-card processing revenue falls 17.3% in first half Kindcard reports USD145,433 in six-month gift-card service fees, while lower expenses narrow the parent company’s loss. By [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 21, 2026 3 min read [ Google News ](https://google.com/preferences/source?q=giftcard.news&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Ftendercard-gift-card-processing-revenue-first-half-2026%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Tendercard+gift-card+processing+revenue+falls+17.3%25+in+first+half&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Ftendercard-gift-card-processing-revenue-first-half-2026%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "LinkedIn") [ ](https://wa.me/?text=Tendercard+gift-card+processing+revenue+falls+17.3%25+in+first+half+https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Ftendercard-gift-card-processing-revenue-first-half-2026%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "WhatsApp") ![Kindcard company logo](https://giftcard.news/images/variants/v1/tendercard-gift-card-processing-revenue-falls-17-3-first-half-kindcard-company-w596.webp) Kindcard owns Tendercard, the gift-card processing subsidiary reported in its September 21 filing. Photo: Kindcard [Tendercard](https://giftcard.news/company/tendercard/)'s gift-card processing programme generated USD145,433 in service-fee revenue for the six months ended July 31, 2026, down 17.3% from USD175,771 a year earlier, according to parent [Kindcard](https://giftcard.news/company/kindcard/)'s latest quarterly filing. The unaudited results, filed with the U.S. Securities and Exchange Commission on September 21, show a USD30,338 decline in the programme's revenue. Tendercard remained the group's principal source of revenue, accounting for approximately 99% of its USD146,933 total. [\[S01\]](#article-source-1) [\[S02\]](#article-source-2) The figures measure the processor's fees. They do not measure the amount customers loaded onto gift cards, the value redeemed at merchants or outstanding gift balances. ## A recurring-fee business serving smaller merchants Tendercard, a wholly owned Kindcard subsidiary, provides stored-value gift-card processing at the point of sale for small and mid-sized North American retail businesses. Its hosted system maintains records of gift-card account activity and supplies monthly reporting, the filing says. The programme earns fixed monthly and annual service fees. Monthly fees are recognised each month, while annual fees are collected in arrears and accrued as revenue. This business model makes the reported result a measure of income from providing the processing service, rather than a direct reading of consumer demand for gift cards. [\[S01\]](#article-source-1) The data behind the story ### Tendercard service-fee revenue Fees earned over each six-month period, in USD. Tendercard programme revenue USD Tap or hover for details. All values are also available in the data table. Source Kindcard Form 10-Q, revenue-recognition table F-7 Service fees are not card loads, redeemed value or outstanding balances. The filing does not disclose active merchants or the cause of the decline. Show data tableHide data table Scroll left or right to see all columns __Tendercard service-fee revenue (USD)__ | Category | Tendercard programme revenue | | --------------------------- | ---------------------------- | | Six months to July 31, 2025 | 175,771 USD | | Six months to July 31, 2026 | 145,433 USD | Kindcard does not disclose the number of active merchants, changes in pricing or gift-card transaction volumes in the report. It also does not provide a programme-specific explanation for the revenue decline. The figures alone cannot establish whether it reflects fewer customers, changed service arrangements or another factor. The group's other reported revenue stream, cash-pickup commissions through its Deb subsidiary, increased from USD750 to USD1,500\. That small increase only partly offset the decline at Tendercard. ## Lower expenses narrow the group loss Kindcard's consolidated six-month net loss narrowed to USD116,601 from USD233,544\. Operating expenses fell to USD228,356 from USD371,365, including lower general and administrative costs and amortisation. The comparative period included USD129,020 of shares issued for services in the cash-flow reconciliation. These are group results, rather than a separately reported Tendercard profit measure. [\[S01\]](#article-source-1) The data behind the story ### Kindcard consolidated operating expense components Parent-group costs in the two six-month periods, in USD. Six months to July 31, 2025Six months to July 31, 2026 USD Tap or hover for details. Select a series above to show or hide it. Source Kindcard Form 10-Q, statements of operations F-2 Consolidated parent costs, not Tendercard profitability or customer gift-card losses. Lower accounting costs do not remove the disclosed funding uncertainty. Show data tableHide data table Scroll left or right to see all columns __Kindcard consolidated operating expense components (USD)__ | Category | Six months to July 31, 2025 | Six months to July 31, 2026 | | ----------------------------- | --------------------------- | --------------------------- | | General and administrative | 349,646 USD | 223,281 USD | | Depreciation and amortization | 21,719 USD | 5,075 USD | The filing reported USD9,254 in cash at July 31 and a working-capital deficit of about USD1.06 million. Management said additional funding was required and disclosed substantial doubt about the company's ability to continue as a going concern. It also reported a material weakness in controls over related-party transactions and described remedial steps following a transfer of Tendercard loan proceeds to the chief executive. Those disclosures concern the operator's finances and governance; the filing does not report a loss of customer gift-card balances. For the gift-card sector, the results provide a specific view of a small merchant-processing business: recurring service income weakened even as lower costs reduced the parent's loss. The missing merchant and transaction data limit how far that result can be used to explain trading conditions across the wider gift-card market. ## In this article ### Companies * [Kindcard](https://giftcard.news/company/kindcard/) * [Tendercard](https://giftcard.news/company/tendercard/) ### Sources and documents * [\[S01\] Unaudited quarterly filing and revenue-recognition notes](https://www.sec.gov/Archives/edgar/data/1696025/000147793226005728/kcrd%5F10q.htm?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — Kindcard / U.S. Securities and Exchange Commission * [\[S02\] Filing date and report-period index](https://www.sec.gov/Archives/edgar/data/1696025/000147793226005728/0001477932-26-005728-index.htm?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — U.S. Securities and Exchange Commission Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Ftendercard-gift-card-processing-revenue-first-half-2026%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Tendercard+gift-card+processing+revenue+falls+17.3%25+in+first+half&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Ftendercard-gift-card-processing-revenue-first-half-2026%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "LinkedIn") [ ](https://wa.me/?text=Tendercard+gift-card+processing+revenue+falls+17.3%25+in+first+half+https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Ftendercard-gift-card-processing-revenue-first-half-2026%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "WhatsApp") ![Portrait of Oliver Reed](https://giftcard.news/images/variants/v1/oliver-reed-editorial-portrait-w320.webp) About the author ## [Oliver Reed](https://giftcard.news/author/oliver-reed/) Journalist — Industry Deals & Research Oliver Reed covers industry acquisitions, investment and market research for Gift Card News. From reading to building ## Your next move in gift cards. Tell us what you’re building. We’ll help you explore suitable providers. [Find a provider ](https://giftcard.news/find-a-provider/) ## Related articles [Research & Trends](https://giftcard.news/research-trends/) News ### [InComm’s holiday survey puts gift cards first in U.S. purchase plans](https://giftcard.news/research-trends/incomm-2026-holiday-gift-card-purchase-plans/) [Emma Carter](https://giftcard.news/author/emma-carter/) October 21, 2026 5 min [Research & Trends](https://giftcard.news/research-trends/) News ### [Gift cards lead NRF’s 2026 holiday wish list at 47%](https://giftcard.news/research-trends/nrf-2026-holiday-gift-card-wish-list/) [Emma Carter](https://giftcard.news/author/emma-carter/) October 20, 2026 3 min [Research & Trends](https://giftcard.news/research-trends/) News ### [iGift’s three-brand index records a lower Roblox discount in week 42](https://giftcard.news/research-trends/igift-week42-2026-gift-card-discount-index/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) October 19, 2026 4 min ```json {"@context":"https://schema.org","@graph":[{"@type":"NewsMediaOrganization","@id":"https://giftcard.news/#publisher","name":"Gift Card News","url":"https://giftcard.news/","description":"News and analysis covering gift cards, retail, loyalty, rewards and payments worldwide.","logo":{"@type":"ImageObject","url":"https://giftcard.news/icon-512.png","contentUrl":"https://giftcard.news/icon-512.png","width":512,"height":512,"@id":"https://giftcard.news/#logo"},"publishingPrinciples":"https://giftcard.news/editorial-policy/","correctionsPolicy":"https://giftcard.news/editorial-policy/"},{"@type":"WebSite","@id":"https://giftcard.news/#website","url":"https://giftcard.news/","name":"Gift Card News","description":"News and analysis covering gift cards, retail, loyalty, rewards and payments worldwide.","inLanguage":"en","publisher":{"@id":"https://giftcard.news/#publisher"},"potentialAction":{"@type":"SearchAction","target":"https://giftcard.news/search/?q={search_term_string}","query-input":"required name=search_term_string"}},{"@type":"Person","@id":"https://giftcard.news/author/oliver-reed/#person","name":"Oliver Reed","url":"https://giftcard.news/author/oliver-reed/","description":"Oliver Reed covers industry acquisitions, investment and market research for Gift Card News.","jobTitle":"Journalist — Industry Deals & Research","image":{"@type":"ImageObject","url":"https://giftcard.news/images/oliver-reed-editorial-portrait.webp","contentUrl":"https://giftcard.news/images/oliver-reed-editorial-portrait.webp","width":1254,"height":1254,"caption":"Illustrated portrait representing the Oliver Reed editorial profile.","@id":"https://giftcard.news/images/oliver-reed-editorial-portrait.webp#image","encodingFormat":"image/webp","description":"Illustrated portrait for Oliver Reed, Gift Card News","creditText":"Gift Card News / AI-generated illustration"}},{"@type":"ImageObject","url":"https://giftcard.news/images/tendercard-gift-card-processing-revenue-falls-17-3-first-half-kindcard-company.webp","contentUrl":"https://giftcard.news/images/tendercard-gift-card-processing-revenue-falls-17-3-first-half-kindcard-company.webp","width":596,"height":188,"caption":"Kindcard owns Tendercard, the gift-card processing subsidiary reported in its September 21 filing.","@id":"https://giftcard.news/images/tendercard-gift-card-processing-revenue-falls-17-3-first-half-kindcard-company.webp#image","encodingFormat":"image/webp","description":"Kindcard company logo","creditText":"Kindcard","isBasedOn":"https://www.kindcard.com/"},{"@type":"Dataset","@id":"https://giftcard.news/research-trends/tendercard-gift-card-processing-revenue-first-half-2026/#dataset","url":"https://giftcard.news/research-trends/tendercard-gift-card-processing-revenue-first-half-2026/","name":"Tendercard gift-card processing revenue falls 17.3% in first half: figure data","description":"Tabular data for the figures accompanying \"Tendercard gift-card processing revenue falls 17.3% in first half\". 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